My god-son is buying a house that has just been built in Burnham Market with a home loan from RBS. 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 involved in the transaction. Therefore, it will be provided to your son’s lawyer who should be on the RBS conveyancing panel as a standard part of the process, and to the surveyor 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 RBS conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.
We are buying a purpose built flat in Burnham Market with a residential mortgage from Bank of Scotland.We use our Burnham Market conveyancing practitioner but Bank of Scotland says she’s not on their "panel". we are left little option but to use a Bank of Scotland panel solicitor or retain our high street solicitor and fork out for one of their panel ones to act for them. We feel as though this is unjust; is there anything we can do?
No, not really. The mortgage offered to you is subject to its various provisions, a common one being that solicitors will be on the Bank of Scotland approved list. Until recently, most banks had large numbers of law firms on their panels: a borrower could choose one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. Another option that might be available is for your lawyer to apply to be on the conveyancing panel for Bank of Scotland
Are all Burnham Market Conveyancing Quality Solicitors on the RBS conveyancing panel?
It is true that some lenders now make use of the accreditation scheme as the kick off point for Panel approval such as HSBC and Santander. The Law Society’s CQS accreditation however gives no guarantee to lender panel acceptance. That being said,the Council of Mortgage Lenders have indicated that it is likely to become a pre-requisite for solicitors wishing to remain on their approved list of conveyancing solicitors.
The formalities of my remortgage has taken place for my property in Burnham Market. Conveyancing was satisfactory but I would like to complain about the lender. Who do I contact should I wish to lodge a complaint?
All banks and building societies have complaints procedures. Your first point of contact should be one of the lender’s branches or the Customer Care Team at head office. We understand that 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, South Quay Plaza, 183 Marsh Wall, London E14 9SR with full details of your complaint.
I've digested plenty of house buying guides, I note that they all recommend that you should get your house surveyed prior to buying it. When I asked my local Burnham Market solicitor - who is on the Clydesdale conveyancing panel - on this she said they don't do this and I need to contract an independent surveyor. is that correct?
Clydesdale will need an independent valuation of the property. Your lawyer will not arrange this. Usually Clydesdale will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey. Your conveyancing practitioner will not organise the survey but they may be able to put you in touch with a local one that they recommend. RICS offers a find a surveyor service (just google it) where you can search for a qualified surveyor by your Burnham Market postcode. As you are getting a mortgage with Clydesdale, you could contact them to see if they have a list of approved surveyors in Burnham Market.
Are there restrictive covenants that are commonly picked up as part of conveyancing in Burnham Market?
Restrictive covenants can be picked up when reviewing land registry title as part of the process of conveyancing in Burnham Market. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
I have been recommended by numerous estate agents in Burnham Market to get a quote from a solicitor on your site. What’s the financial inducement for Estate Agents to recommend your lawyers ahead of alternative conveyancing organisations?
We refuse to make any financial incentive for pointing buyers and sellers to this site. We thought it would be too underhand a fee as home movers will think, ‘How come the agent getting a kickback? Why am I not getting any benefit too?’ So we decided to step away from that.
I only have Seventy years remaining on my flat in Burnham Market. I need to get lease extension but my freeholder is missing. What options are available to me?
If you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply 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 track down the lessor. On the whole a specialist would be useful to conduct investigations and to produce an expert document which can be accepted by the court as evidence that the landlord can not be located. It is advisable to get professional help from a property lawyer both on proving the landlord’s absence and the application to the County Court overseeing Burnham Market.
Burnham Market Leasehold Conveyancing - Examples of Queries before buying
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This information is helpful as a) areas can result in problems in the block as the common areas may start to deteriorate where services are not paid for b) if the leasehold owners have a dispute with the managing agents you will want to know about it Does the lease include onerous restrictions? Are any of leasehold owners in dispute over their service charge liability?