My son is about to exchange on a house that has just been built in Lansbury with a mortgage from Santander. His conveyancer has said that there is a delay in receiving 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 purchase. Therefore, it will be provided to your son’s lawyer who should be on the Santander 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 Santander conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.
Is it correct that all Lansbury CQS (Conveyancing Quality Scheme) solicitors are on the Leeds Building Society conveyancing list of approved firms?
Some major banks and building societies now use CQS as the kick off point for Panel approval such as HSBC and Santander. The Law Society’s CQS membership however is no guarantee to lender panel acceptance. Nevertheless,the CML have indicated that it is likely to become a pre-requisite for firms wishing to remain on their panels.
I have decided to exercise my right to buy my property in Lansbury off the council. I have a mortgage offer with Coventry BS. Conveyancing is not something I have any knowledge of. 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.
Planning on purchasing a flat in Lansbury. I have received an online quote from a licenced conveyancer, which states: "There will be no charge for dealing with the Building Society if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the Barclays conveyancing panel. I wanted to make sure it means there will be no additional fees for dealing with the mortgage.
They are simply saying that the cost for acting for the lender is included in the fee being quoted. It is worth you checking that the Lansbury lawyer is on the Barclays conveyancing panel.
Just bought a detached house in Lansbury , how long will it take for the Land Registry to deal with the formalities evidencing my ownership? My Lansbury conveyancing solicitor has been very slow, so I want to be certain the registration is addressed.
There is nothing unique about conveyancing in Lansbury registration formalities. As opposed to being determined by geographic area, timescales can differ depending on who lodges the application, whether there are errors and if the Land registry need to notify any third persons or bodies. Currently approximately 80% of submission are fully dealt with within two weeks but occasionally there can be protracted hold-ups. Registration takes place after the buyer is living at the premises so post completion formalities is not usually top priority but where there is a degree of urgency associated with the registration then you or your solicitor must communicate with the Registry to express the reasoning for the application to be prioritised.
I decided to have a survey carried out on a property in Lansbury before appointing solicitors. I have been told that there is a flying freehold aspect to the house. The surveyor advised that some banks tend not give a loan on such a house.
It depends who your proposed lender is. HSBC has different instructions from Halifax. Should you wish to call us we can check via the relevant lender. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Lansbury. Conveyancing may be slightly more expensive based on your lender's requirements.
I today plan to offer on a house that appears to meet my requirements, at a great figure which is making it all the more appealing. I have just been informed that it's a leasehold rather than freehold. I am assuming that there are particular concerns purchasing a leasehold house in Lansbury. Conveyancing solicitors have not yet been appointed. Will my lawyers set out the implications of buying a leasehold house in Lansbury ?
Most houses in Lansbury are freehold rather than leasehold. In this scenario it’s worth having a local solicitor who is familiar with the area who can assist with the conveyancing process. We note that you are purchasing in Lansbury in which case you should be looking for a Lansbury conveyancing solicitor and check that they are used to transacting on leasehold houses. As a matter of priority you will need to check the unexpired lease term. Being a tenant you will not be entirely free to do whatever you want with the house. The lease comes with conditions such as obtaining the freeholder’spermission to carry out changes to the property. You may also be required to pay a service charge towards the maintenance of the estate where the property is part of an estate. Your conveyancer will advise you fully on all the issues.
We have reached the end of our tether in seeking a lease extension in Lansbury. Can this matter be resolved via the Leasehold Valuation Tribunal?
Where there is a absentee freeholder or if there is disagreement about what the lease extension should cost, under the Leasehold Reform, Housing and Urban Development Act 1993 it is possible to make an application to the LVT to decide the price payable.
An example of a Vesting Order and Purchase of freehold decision for a Lansbury flat is Ground Floor Flat 4A Baronet Road in February 2010. Following a vesting order by Edmonton County Court on 23rd December 2008 (case number 8ED064) the Tribunal decided that the price that the Applicant for the freehold interest should pay is £8,689.00 This case affected 2 flats. The remaining number of years on the lease was 80.01 years.
My lender have just issued us with a mortgage offer. We instructed a local conveyancer in Lansbury yesterday. This morning, our broker called to say that the lender said that we cannot use our solicitor as they aren't on their panel. As novices, we did not have a clue that the mortgage company had a say Is this legal?
You are permitted to choose any lawyer you wish to choose including the said conveyancer in Lansbury nevertheless if your mortgage company aren't happy with them you must fork out an extra fee so the bank can appoint their own conveyancer too. It may be conceivable that your preferred conveyancing firm to get included on to the lender panel. Do make the most of web-based search facilities including lenderpanel.com to find a conveyancing solcitor in Lansbury on the lender panel. You can go into your local lender branch in Lansbury. They can recommend conveyancing solicitors in Lansbury on the panel for your bank.