Our god-son is about to exchange on a new build apartment in Topsham with a home loan from Virgin Money. 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 transaction. Therefore, it will be provided to your son’s lawyer who should be on the Virgin Money 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 Virgin Money conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.
My conveyancer has informed me that lack of right of way insurance is required on my purchase. What is the typical level of cover needed for conveyancing in Topsham?
The appropriate level of lack of right of way indemnity insurance depends on who your lender is. It would differ for example between Yorkshire Building Society and Bank of Scotland. Conveyancing solicitors as opposed to members of the public take out such insurances.
We have a mortgage agreed in principle with TSB. Topsham conveyancing practitioners are appointed. What is the average time that one could expect to receive a mortgage offer from TSB?
There is no definitive answer here. Have TSB done the valuation? Have you informed TSB as to your lawyers' details and checked that your lawyers are on the TSB conveyancing panel? Sometimes it can take as long as six weeks for a mortgage offer to be issued.
Having 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 Topsham solicitor - who is on the Coventry BS conveyancing panel - on this she said they don't do this and I need to contract an independent surveyor. is that correct?
Coventry BS will need an independent valuation of the property. Your lawyer will not arrange this. Usually Coventry BS 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 property lawyer 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 Topsham postcode. As you are getting a mortgage with Coventry BS, you could contact them to see if they have a list of approved surveyors in Topsham.
What can a local search inform me concerning the house my wife and I purchasing in Topsham?
Topsham conveyancing often commences with the ordering local authority searches directly from your local Authority or through a personal search company such as Onsearch The local search plays a central part in most Topsham conveyancing purchase; that is if you wish to avoid any unpleasant surprises after you move into your new home. The search should supply data on, amongst other things, details on planning applications applicable to the premises (whether granted or refused), building control history, any enforcement action, restrictions on permitted development, nearby road schemes, contaminated land and radon gas; in all a total of thirteen subject sections.
2 months have gone by since my purchase conveyancing in Topsham concluded. I have checked the Land Registry site which shows that I paid £175,000 when infact I paid £160,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the premises from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
Is it possible to switch conveyancer as I need to select one who is on the Nottingham Building Society conveyancing panel. I hired a local conveyancing solicitor in Topsham five minutes from me but the firm is not accepted by Nottingham Building Society
We will our best to assist in finding you a conveyancing solicitor in Topsham on the Nottingham Building Society panel. Please note that the property lawyers that we list do not pay us fee if you instruct them and are regulated by the SRA who oversee all conveyancing solicitors in Topsham. In utilising search facility on this website, you can contrast charges for conveyancing solicitors in Topsham and throughout England and Wales.
Can you refer me to a trustworthy Topsham conveyancing practitioner for buying a flat? A work colleague recommended one but their quote was £1250 for a 250k property. I think thats high. The bank will be Bank of Ireland.
LenderPanel.com is limited to being a directory service for lawyers who wish to be listed as being on the approved conveyancing panel for Bank of Ireland in certain locations such as Topsham . Our intention is not to recommend any specific lawyer.