Our grandson is buying a house that has just been built in Bilborough with a home loan from UBS. His lawyer has said that there is a delay in completing 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 engaged in the purchase. Therefore, it will be provided to your son’s lawyer who should be on the UBS 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 UBS conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.
We see that you have a search directory identifying solicitors on the Coventry BS conveyancing panel. Do firms pay you a commission if I instruct them for our own conveyancing in Bilborough?
We are a listing service only for law firms wishing to communicate if they are on the Coventry BS conveyancing panel or other lender panels. We do not charge referral fees to any conveyancer that you subsequently appoint for your conveyancing in Bilborough.
We have agreed to purchase a house in Bilborough. A rare aspect is that the roof has a solar panel. Aldermore have issued a mortgage offer so presumably this is not a concern to them. Why is my solicitor raising questions about the panel?
As your lender is Aldermore your lawyer must check the conveyancing requirements set out in Section 2 of UK Finance Lenders’ Handbook for Aldermore. The Council of Mortgage Lenders’ Handbook includes minimum conditions for solar panel roof-space leases, and conveyancers are required to report to Aldermore where a lease fails to comply with these provisions. The requirements relate to the installation of panels on properties countrywide and is not restricted to Bilborough.
The formalities of my remortgage has taken place for my property in Bilborough. Conveyancing was of an acceptable standard but I would like to complain about the lender. How do I make a complaint?
All lenders have complaints procedures. Your first point of contact should be one of the lender’s branches or the Customer Services Department at head office. We understand that complaints to a lender are sorted out effectively and efficiently. If you feel the matter is not resolved you can write to Financial Ombudsman Service with full details of your complaint.
My offer on a detached house in Bilborough has been agreed to, the owners do however have a dependent purchase. The vendors have put an offer on somewhere, however it’s not yet agreed to, and are looking at other properties in the pipeline. I have instructed a local conveyancing solicitor in Bilborough. What should be my next step? At what stage should I apply for the mortgage with Yorkshire BS?
It is usual to have concerns where there is a chain as you are unlikely to want to be too out of pocket prematurely (home loan application is in the region of one thousand pounds, then survey, Bilborough conveyancing search fees, etc). The first course of action is to check that your conveyancer is on the Yorkshire BS approved list. Concerning the next steps this very much depends on the uniqueness of your transaction, attraction to the property and on the state of the market. During a buoyant market the majority of buyers will apply for a home loan with Yorkshire BS and pay for the valuation and only if it was satisfactory would they pay their solicitor to press on with the conveyancing in Bilborough.
Just bought a detached house in Bilborough , What is the estimated time for the Land Registry to record my ownership? My Bilborough conveyancing solicitor works at snail pace, so I want to be certain the registration is dealt with.
There is nothing unique about conveyancing in Bilborough registration formalities. Rather than based on location, timescales can vary depending on who lodges the application, whether it is in order and whether the Land registry must send notices to any other parties. At present approximately three quarters of submission are completed in less than three weeks but some can be subject to extensive hold-ups. Historically registration occurs after the purchaser has moved in to the premises therefore 'speed' is not always top priority but where there is a degree of urgency associated with the registration then you or your conveyancer can communicate with the Registry to express the reasoning for the application to be prioritised.
Due to the guidance of my in-laws I had a survey completed on a house in Bilborough in advance of appointing lawyers. I have been advised that there is a flying freehold element to the house. My surveyor has said that some mortgage companies tend not grant a loan on this type of house.
It depends who your proposed lender is. Bank of Scotland has different instructions for example to Halifax. Should you wish to call us we can investigate further with the relevant mortgage company. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Bilborough. Conveyancing will be smoother if you use a solicitor in Bilborough especially if they are familiar with such properties in Bilborough.
There are only Fifty years remaining on my lease in Bilborough. I now wish to get lease extension but my freeholder is absent. What are my options?
On the basis that you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application to the County Court for for permission to dispense with the service of the initial notice. This will mean that your lease can be granted an extra 90 years by the Court. However, you will be required to prove that you have made all reasonable attempts to find the freeholder. On the whole an enquiry agent may be helpful to conduct investigations and prepare a report which can be used as evidence that the freeholder can not be located. It is wise to seek advice from a conveyancer both on proving the landlord’s disappearance and the vesting order request to the County Court covering Bilborough.
I am the registered owner of a studio flat in Bilborough, conveyancing formalities finalised half a dozen years ago. Can you give me give me an indication of the likely cost of a lease extension? Similar properties in Bilborough with a long lease are worth £191,000. The average or mid-range amount of ground rent is £55 levied per year. The lease terminates on 21st October 2076
With 53 years unexpired we estimate the premium for your lease extension to span between £27,600 and £31,800 as well as professional fees.
The figure that we have given is a general guide to costs for extending a lease, but we cannot give you the actual costs without more detailed due diligence. Do not use the figures in tribunal or court proceedings. There are no doubt other issues that need to be taken into account and you obviously should 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.