My son is about to exchange on a house that has just been built in Beaminster with a home loan from Virgin Money. His solicitor has advised him of a delay in receiving the ‘Disclosure of Incentive Form’. This document is news to me - what is it and who needs sight of it?
The form is intended to provide information to the main parties involved in the transaction. Therefore, it will be provided to your son’s lawyer who should be on the Virgin Money conveyancing panel as a standard part of the process, and to the valuer when asked. The developer will be required to start the process by downloading the form and completing it. The form will therefore need to be available for the valuer at the time of his or her site visit. The form should be sent to the Virgin Money conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.
What is the difference between a licensed conveyancer and conveyancing solicitor in Beaminster
There are many registered licenced Conveyancers in Beaminster and Solicitor partnerships in Beaminster who can assist with your conveyancing We would stress that both are supervised by regulatory bodies with both specialising in the legal work in the home buying process. They may both also deal with other property legal work such as remortgage conveyancing, lease extensions and transfer of equity conveyancing.
Two weeks ago we had a mortgage agreed in principle with Aldermore. Beaminster conveyancing lawyers were appointed. What is the average time that one could expect to receive a mortgage offer from Aldermore?
Some lenders take longer than others. Have Aldermore done the valuation? Have you advised Aldermore as to your lawyers' details and checked that your lawyers are on the Aldermore conveyancing panel? Sometimes it can take as long as six weeks for a mortgage offer to be issued.
The formalities of my remortgage has taken place for my property in Beaminster. Conveyancing was satisfactory but I feel I should register my dissatisfaction about the lender. How does one go about formally complaining?
Almost all lenders have complaints procedures. Your first port of call should be one of the lender’s branches or the Customer Care Team at head office. Ordinarily complaints to a lender are resolved effectively and efficiently. However if you are not satisfied that the matter is not resolved you can write to Financial Ombudsman Service with full details of your complaint.
Me and my brother purchased a 4 bedroom Edwardian house in Beaminster. Conveyancing lawyer represented me and The Royal Bank of Scotland. I happened to do a free search for it on the Land Registry database and there are a couple of entries: the first freehold, the second leasehold with the exact same address. I'd like to know for sure, how can I find out??
You need to review the Freehold register you have again and check the Charges Register as there may be mention of a lease. The best way to be sure that you are also the registered proprietor of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Beaminster and other areas of the country and poses no real issues for owners other than when they buy they have to account for both freehold and leasehold interests when dealing with lenders. You can also enquire as to the position with your conveyancing lawyer who conducted the conveyancing.
Are there any apps to help identify a Beaminster solicitor on the Norwich and Peterborough Building Society conveyancing panel? I have wheels and am willing to travel upto 10kilometers to meet the lawyer.
Feel free to make use of the search on this page. Please select a lender and your location and you will see a number of Beaminster conveyancing lawyers locally. We have listed some Beaminster conveyancing firms towards the end of this page and you can telephone them to check if they are on the Norwich and Peterborough Building Society member panel
My husband and I are one month into a residential purchase having been referred to solicitors by the estate agent to do our conveyancing in Beaminster. I am am extremely dissatisfied with the level of service. Could you help me find new conveyancers?
A conveyancer would need to be very poor to suggest changing them. Has your mortgage been issued? If so you need to advise them of the new contact details and have the offer are issued to the new lawyers. Your conveyancer needs to be on the banks panel to avoid escalating expenses and frustration. So that should be your first question of the new conveyancers. Our search tool can assist you in finding a lender approved lawyer for your conveyancing in Beaminster
I am looking at a two maisonettes in Beaminster which have in the region of 50 years remaining on the leases. Will this present a problem?
A lease is a right to use the property for a period of time. As the lease shortens the saleability of the lease reduces and it becomes more expensive to extend the lease. This is why it is generally wise to extend the lease term. It is often difficulties arise selling premises with a short lease as mortgage lenders less inclined to grant a loan on such properties. Lease enfranchisement can be a difficult process. We recommend you get professional help from a solicitor and surveyor with experience in this field.
I bought a 2 bed flat in Beaminster, conveyancing formalities finalised September 2012. Can you let me have an estimated range of the fair premium for a lease extension? Similar flats in Beaminster with a long lease are worth £190,000. The ground rent is £45 yearly. The lease terminates on 21st October 2087
With 62 years remaining on your lease we estimate the price of your lease extension to span between £17,100 and £19,800 plus costs.
The suggested premium range above a general guide to costs for renewing a lease, but we are not able to supply the actual costs in the absence of detailed due diligence. Do not use the figures in a Notice of Claim or as an informal offer. There may be other concerns that need to be considered and clearly you want to be as accurate as possible in your negotiations. Please do not take any other action based on this information without first seeking the advice of a professional.