Our son-in-law is buying a new build apartment in East Dean with a home loan from Co-operative. His lawyer has advised him of 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 document 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 Co-operative 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 Co-operative conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.
We previously instructed conveyancing lawyers with offices in East Dean on the Leeds Building Society solicitor panel. They are now charging me a further sum for the legal aspects of the Leeds Building Society mortgage. Is this a supplemental conveyancing fee specified by Leeds Building Society?
Provided it is contained in their Terms and Conditions or estimate then yes your conveyancing practitioner can levy a fee for this. This fee is not set by Leeds Building Society but by your East Dean conveyancing practitioner. Plenty of firms on the Leeds Building Society panel will quote ’dealing with mortgage’ fee but plenty of firms include it on their overall fee.
I had a mortgage agreed in principle with Coventry BS. East Dean conveyancing practitioners were appointed. What is the average time that one could expect to receive a mortgage offer from Coventry BS?
Some lenders take longer than others. Have Coventry BS completed the survey? Have you informed Coventry BS as to your lawyers' details and checked that your lawyers are on the Coventry BS conveyancing panel? It is not unusual for a mortgage offer to take a month to come through.
I have decided to exercise my right to buy my property in East Dean off the council. I have a mortgage agreed with Coventry BS. Conveyancing is new to me. Can I proceed without a solicitor easily? I think we can but we keep being told I should use one. Any advice?
It is not advisable to proceed with a house purchase without a solicitor. The council's solicitor are not acting for you. You need a solicitor for a number reasons. One of which is to verify what plans the Council have for repairs and refurbishment for the next five years. Many leaseholders have been stung for contributions of thousands of pounds. In any event, if you are getting a mortgage with Coventry BS, you will need to appoint a solicitor on the Coventry BS conveyancing panel.
I have justdiscovered that Wolstenholmes have been shut down. They conducted my conveyancing in East Dean for a purchase of a leasehold apartment 18 months ago. How can I establish that the property is registered correctly in the name of the previous owner?
The easiest way to check if the premises is registered to you, you can carry out 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 East Dean conveyancing specialists.
I need to appoint a conveyancing solicitor for some conveyancing in East Dean. I have stumble across a web site which looks to be the ideal answer If it is possible to get all formalities done via phone that would be ideal. Do I need to be wary? What should out be looking out for?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?
Are there common deficiencies that you witness in leases for East Dean properties?
Leasehold conveyancing in East Dean is not unique. Most leases are individual and drafting errors can result in certain sections are missing. The following missing provisions could result in a defective lease:
A provision to repair to or maintain elements of the premises Maintenance charge proportions which don’t add up to the correct percentage
You will have a problem when selling your property if you have a defective lease as they can affect a potential buyer’s ability to obtain a mortgage. Lloyds TSB Bank, Norwich and Peterborough Building Society, and Alliance & Leicester all have very detailed conveyancing instructions when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease does not cover certain provisions they may refuse to grant the mortgage, obliging the purchaser to withdraw.
I own a garden flat in East Dean, conveyancing having been completed 8 years ago. Can you give me give me an indication of the likely cost of a lease extension? Comparable properties in East Dean with an extended lease are worth £260,000. The average or mid-range amount of ground rent is £45 per annum. The lease ceases on 21st October 2094
With just 74 years remaining on your lease the likely cost is going to span between £8,600 and £9,800 plus legals.
The figure above a general guide to costs for renewing a lease, but we cannot give you the actual costs in the absence of detailed due diligence. You should not use the figures in tribunal or court proceedings. There may be additional issues that need to be considered and clearly you want to be as accurate as possible in your negotiations. Neither should you move forward placing reliance on this information without first getting professional advice.
My aim is to purchase a garden maisonette in East Dean. Conveyancing lawyer has been waiting for, from the vendor, building insurance paperwork. I was told today I was informed that the vendor needs to send the insurance paperwork for the flat above in addition. Why would my conveyancing practitioner need to review the insurance for the other flat? Is it really necessary? We have been in hold for the previous 3 weeks…
It is not impossible in leasehold conveyancing in East Dean to discover Conveyancing in East Dean in a minority of cases reveals that the lease provides for the leasehold owners to insure their individual flats as opposed to the landlord insuring the entire block - which is clearly preferable. You should clarify with your lawyer but it would appear that your conveyancer is seeking to verify that the entire building is insured. Insuring a ground floor apartment is no help when it comes to rebuilding after a fire if the 1st floor cannot be reconstructed due to lack of insurance.