My grandson is purchasing a new build apartment in Billingham with a home loan from Lloyds. His solicitor has advised him of a delay in receiving the ‘Disclosure of Incentive Form’. What is this document - I have never come across this before?
The document is intended to provide information to the main parties engaged in the transaction. Therefore, it will be provided to your son’s lawyer who should be on the Lloyds conveyancing panel as a standard part of the process, and to the valuer when requested. 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 Lloyds conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.
Are the Billingham conveyancing solicitors identified as being on the Principality conveyancing panel, together with their details provided by Principality?
Billingham conveyancing firms themselves provide us confirmation that they are on the Principality conveyancing panel as opposed to being supplied with a list from Principality directly.
I am looking to buy a property and require a conveyancing solicitor in Billingham who is on the Britannia conveyancing. Can you recommend a local conveyancing firm?
Our service is limited to being a directory service for firms who wish to listed as being on the approved conveyancing panel for Britannia in certain locations such as Billingham. We dont recommend any particular firm.
I have been told that property searches are the main reason for obstruction in Billingham conveyancing transactions. Is that correct?
The Council of Property Search Organisations (CoPSO) has noted the determinations of a review by MoveWithUs that conveyancing searches do not feature amongst the common causes of hindrances during the legal transfer of property. Searches are not likely to be the root cause of holding up conveyancing in Billingham.
In surfing the web for the words conveyancing in Billingham it brings up many solicitorslocally. How do I determine which is the suitable conveyancer for the sale of my house?
The ideal way of choosing a suitable conveyancer is via trusted referral, so seek the guidance of colleagues and family who have acquired a property in Billingham or a local estate agent or mortgage broker. Costs for conveyancing in Billingham differ, so it's sensible to obtain at least four costs illustrations from varying types of law firms. Make sure that you know that the costs are guaranteed not to increase.
Do you have any advice for leasehold conveyancing in Billingham from the point of view of speeding up the sale process?
- A significant proportion of the delay in leasehold conveyancing in Billingham can be reduced if you appoint lawyers as soon as you market your property and request that they start to collate the leasehold information needed by the purchasers’ conveyancers. You believe that you know the number of years remaining on your lease but you should double-check by asking your conveyancers. A buyer’s conveyancer will not be happy to advise their client to proceed with the purchase of a leasehold property the lease term is below 80 years. It is therefore important at an early stage that you consider whether the lease term requires a lease extension. If it does, contact your solicitors before you put your home on the market for sale. If there is a history of any disputes with your landlord or managing agents it is very important that these are resolved prior to the flat being marketed. The purchasers and their solicitors will be reluctant to purchase a property where there is an ongoing dispute. You may need to swallow your pride and discharge any arrears of service charge or resolve the dispute prior to completion of the sale. It is therefore preferable to have any dispute settled prior to the contract papers being issued to the buyers’ solicitors. You will still have to reveal particulars of the dispute to the purchasers, but it is clearly preferable to present the dispute as historic as opposed to unsettled. In the event that you altered the property did you need the Landlord’s permission? Have you, for example laid down wooden flooring? Most leases in Billingham state that internal structural changes or installing wooden flooring require a licence from the Landlord approving such changes. If you fail to have the approvals in place you should not communicate with the landlord without checking with your conveyancer in advance. If you have the benefit of shareholding in the Management Company, you should make sure that you have the original share document. Organising a new share certificate can be a time consuming formality and slows down many a Billingham home move. If a duplicate share certificate is needed, you should approach the company director and secretary or managing agents (if relevant) for this sooner rather than later.
I own a 1st floor flat in Billingham, conveyancing having been completed in 2007. Can you please calculate a probable premium for a statutory lease extension? Equivalent flats in Billingham with a long lease are worth £191,000. The average or mid-range amount of ground rent is £55 invoiced every year. The lease ends on 21st October 2074
You have 53 years left to run we estimate the premium for your lease extension to span between £27,600 and £31,800 plus professional fees.
The suggested premium range above a general guide to costs for extending a lease, but we cannot give you a more accurate figure without more detailed investigations. Do not use the figures in tribunal or court proceedings. There may be other concerns that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. Neither should you take any other action placing reliance on this information without first getting professional advice.