My nephew is buying a newly built flat in Blyth with a home loan from Aldermore. His lawyer has said that there is a delay in receiving the ‘Disclosure of Incentive Form’. Who needs to receive the form?
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 Aldermore conveyancing panel as a standard part of the process, and to the surveyor 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 Aldermore conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.
I purchased a freehold residence in Blyth yet charged rent, why is this and what is this?
It is rare for properties in Blyth and has limited impact for conveyancing in Blyth but some freehold properties in England (particularly common in North West England) pay an annual sum known as a Chief Rent or a Rentcharge to a third party who has no other legal interest in the land.
Rentcharge payments are usually between £2.00 and £5.00 per year. Rentcharges date back hundreds of years, but the Rent Charge Act 1977 barred the generation of new rentcharges from 1977 onwards.
Previous rentcharges can now be extinguished by making a lump sum payment under the Act. Any rentcharges that are still in existence after 2037 is to be extinguished.
What is the difference between a licensed conveyancer and conveyancing solicitor in Blyth
There are two types of lawyers who can execute conveyancing in Blyth namely CLC regulated conveyancers or solicitors. Both professionals handle conveyancing services that required to complete the disposal or purchase of property. They are both duty bound to conduct Blyth conveyancing on similar quality and guidelines so you can be sure that your conveyancing will be professionally conducted and that all requirements and steps will be appropriately adhered to.
This question may be naive but I am wet behind the ears as FTB of a ground floor flat in Blyth. Do I receive the keys to the premises on completion from my solicitor? If this is the case, I will find a local conveyancing solicitor in Blyth?
On the day of completion you do not need to attend the conveyancers office in Blyth. Your solicitors will transfer the purchase money to the vendor’s solicitors, and shortly after the monies have arrived, you should be able to receive the keys from the selling Agents and start moving into the property. This tends to happen between 1 and 3pm.
When it comes to mortgage companies such as Nationwide, do Blyth solicitors have to pay a yearly amount to be on the list of approved solicitors?
We are not aware of any lender fees to be on their panel, although some do charge an administration fee to deal with the processing of the conveyancing panel application.
Due to the advice of my in-laws I had a survey completed on a house in Blyth prior to instructing lawyers. I have been advised that there is a flying freehold overhang to the house. The surveyor advised that some banks will refuse to issue a mortgage on a flying freehold premises.
It varies from the lender to lender. Santander has different requirements from Nationwide. Should you wish to call us we can check via the relevant bank. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Blyth. Conveyancing will be smoother if you use a solicitor in Blyth especially if they are acquainted with such properties in Blyth.
Should I instruct a Blyth conveyancing practitioner who is local to the property I am purchasing? An old friend can deal with the legal formalities but his firm is located over three hundred kilometers away.
The benefit of a high street Blyth conveyancing firm is that you can pop in to execute paperwork, deliver your identification documents and pester them where appropriate. They will also have local insight which is a bonus. However nothing is more important than finding someone that will do a good and efficient job. If you know people who used your friend and the majority were happy that should outweigh using an unknown Blyth conveyancing solicitor just because they are based in the area.
How do I search for a Blyth conveyancing solicitor on the bank conveyancing panel? I have a car and am prepared to travel up to 20kilometers to meet the solicitor.
You can use the find a conveyancing panel search on this website. Please choose the lender and your location, in this case Blyth and you will see a number of lawyer located nearest Blyth. Alternatively you can type in the name of your proposed law firm and see if they are listed as being on the mortgage company solicitor panel.