My son is about to exchange on a house that has just been built in Bristol with a mortgage from Clydesdale. His solicitor 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 engaged in the purchase. Therefore, it will be provided to your son’s lawyer who should be on the Clydesdale 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 Clydesdale conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.
I have an AIP. The lender mentioned the loan came with free conveyancing. Does this mean I have to appoint their panel lawyer as I would prefer to instruct a Bristol based conveyancing firm?
You should check but the the probability is that appoint one of their panel conveyancers if you take up the "fee-free" offer. Speak to the lender to see if they allow a cash alternative. It is not unheard for a lender to give a £250 cashback as a further option in which case that money can go towards your preferred conveyancing solicitor in Bristol.
I have recentlydiscovered that Wolstenholmes have closed. They conducted my conveyancing in Bristol for a purchase of a freehold house 9 months ago. How can I check that my home is registered correctly in the name of the former proprietor?
The quickest method to see if the premises is in your name, you can make a search of the land registry (£3.00). You can either do this yourself or ask a law firm to do this for you. If you are not registered you can seek help from one of a number of Bristol conveyancing specialists.
I opted to have a survey completed on a house in Bristol before appointing lawyers. I have been advised that there is a flying freehold element to the property. My surveyor has said that some lenders tend refuse to issue a mortgage on such a property.
It varies from the lender to lender. Lloyds has different requirements for example to Nationwide. Should you wish to call us we can check with the appropriate lender. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Bristol. Conveyancing may be slightly more expensive based on your lender's requirements.
Due to exchange soon on a ground floor flat in Bristol. Conveyancing solicitors inform me that they are sending me a report next week. What should I be looking out for?
Your report on title for your leasehold conveyancing in Bristol should include some of the following:
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Are you allowed to have a pet in the flat? Responsibility for maintaining the window frames Whether the lease restricts you from renting out the flat, or working from home The total extent of the premises. This will be the apartment itself but might incorporate a roof space or cellar if appropriate.
I bought a leasehold flat in Bristol, conveyancing was carried out in 2001. Can you please calculate a probable premium for a statutory lease extension? Equivalent flats in Bristol with a long lease are worth £190,000. The average or mid-range amount of ground rent is £65 invoiced annually. The lease expires on 21st October 2086
With only 61 years unexpired we estimate the premium for your lease extension to be between £18,100 and £20,800 as well as professional fees.
The figure that we have given is a general guide to costs for renewing a lease, but we cannot give you the actual costs without more comprehensive due diligence. You should not use this information in tribunal or court proceedings. There may be other concerns that need to be considered and clearly you should be as accurate as possible in your negotiations. You should not take any other action based on this information before seeking the advice of a professional.
The property lawyers undertaking our conveyancing in Bristol has forwarded papers to review that show the property is unregistered with epitome documents. Is it not the case that all property in Bristol should be registered?
It is unusual for premises in Bristol not to be registered. An 'epitome' is basically a dossier of photocopies of documents affecting an unregistered title. Plenty of Bristol conveyancing practitioners should be able to handle this type of conveyancing but where uncertainty reigns the usual guidance presently is for the vendor’s solicitor to register the title first and then deal with the dispose of the property to the purchaser - this will predictably cause a significant delay.