My god-son is buying a house that has just been built in Plympton with a home loan from Barclays. His lawyer has said that there is a delay in receiving the ‘Disclosure of Incentive Form’. What is this document - I have never come across this before?
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 Barclays 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 Barclays conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.
When it comes to lenders such as Skipton, do Plympton lawyers have to pay a fee to be on the conveyancing panel?
We are unaware of any mortgage company fees to register on their panel, although some do charge an administration charge to deal with the processing of the conveyancing panel application.
Planning on purchasing a flat in Plympton. I have received an online quote from a licenced conveyancer, which states: "There will be no charge for dealing with the Lender if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the Nottingham 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 Plympton lawyer is on the Nottingham conveyancing panel.
Leeds Building Society have agreed my mortgage in principle, my offer on a flat in Plympton has been accepted, what are the next steps?
Your property agent will want to be advised as to your lawyer's details (be sure the lawyers are on the bank’s approved list). Call up Leeds Building Society or the financial adviser and complete any relevant paperwork. Leeds Building Society will instruct a valuer who will get in contact with the selling agent or seller to schedule an appointment. Once carried out (assuming no problems) it takes on average ten days to get a mortgage offer. Leeds Building Society will send the offer to you and your conveyancers. The transaction will then take it’s course according the nature and complexity of the conveyancing in Plympton.
A friend recommended that where I am purchasing in Plympton I should carry out a Neighbourhood, Planning and Local Amenity Search. Can you explain what the purpose of this search is?
This is a search is occasionally quoted for as part of the standard Plympton conveyancing searches. It is a large document of more than thirty pages, listing and detailing significant information about Plympton around the property and the people living there. It incorporates an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the local Housing Market, Council Tax Banding, the demographics of People living in the area, the dominant type of Housing, the Average Property Price, Crime details, Plympton Education with plans and statistics, Local Amenities and other useful information about Plympton.
I own a semi-detached Victorian property in Plympton. Conveyancing lawyer acted for me and Lloyds TSB Bank. I happened to do a free search for it on the Land Registry database and there are a couple of entries: the first freehold, another for leasehold under the exact same address. Is it worth asking Lloyds TSB Bank to clarify?
You need to assess the Freehold register you have again and check the Charges Register for mention of a lease. The best way to be sure that you are also the registered proprietor of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Plympton and other locations in the country and poses no real issues for owners other than when they sell they have to account for both freehold and leasehold interests when dealing with mortgage companies. You can also question the position with the conveyancing solicitor who conducted the conveyancing.
Is it simple use your search tool to find a conveyancing practitioner in Plympton on the approved list for my lender?
First select a lender such as Santander, Norwich and Peterborough Building Society or Bank of Ireland then choose your preferred area such as Plympton. Conveyancing practices in Plympton and beyond will then be listed.
I need to review quotes for conveyancing in Plympton from numerous conveyancer and appoint one. Am I right to tell them to hold tight until I a suitable apartment to buy.
You should only get your conveyancing practitioner to open a file and order searches after the offer has been accepted on the property particularly as Plympton conveyancing searches are a couple of hundred pounds.