My son-in-law is in the process of securing a new build apartment in Topsham with a mortgage from Leeds Building Society. His conveyancer has advised him of a delay in completing 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 engaged in the purchase. Therefore, it will be provided to your son’s lawyer who should be on the Leeds Building Society 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 Leeds Building Society conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.
Are the Topsham conveyancing solicitors identified as being on the RBS conveyancing panel, together with their details provided by RBS?
Topsham conveyancing firms themselves provide us confirmation that they are on the RBS conveyancing panel as opposed to being supplied with a list from RBS directly.
We're in Topsham, First time buyers purchasing with a mortgage (lender is Coventry BS , and our lawyer is on the Coventry BS conveyancing panel). How long should the conveyancing process take?
The fact that your lawyer is on the Coventry BS conveyancing panel is a help. It would almost certainly delay matters if they were not. However, no conveyancing practitioner should guarantee a timeframe for your conveyancing, due to third parties outside of your control such as delays caused by lenders,conveyancing search providers or by the other side’s solicitors. The time taken is often determined by the number of parties in a chain.
How simple is it to use the search app to get a costs illustration from a conveyancing practitioner in Topsham on the approved list for my bank?
First choose a lender such as Santander, Chelsea Building Society or Britannia then choose your location such as Topsham. Conveyancing organisations in Topsham and further afield will then be listed.
I am in need of some leasehold conveyancing in Topsham. Before I get started I would like to find out the number of years remaining on the lease.
If the lease is registered - and almost all are in Topsham - then the leasehold title will always include the basic details of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title. For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.
I am the registered owner of a studio flat in Topsham, conveyancing was carried out 3 years ago. Can you work out an approximate cost of a lease extension? Comparable properties in Topsham with an extended lease are worth £181,000. The ground rent is £55 levied per year. The lease terminates on 21st October 2077
With 51 years left to run the likely cost is going to range between £30,400 and £35,200 plus legals.
The suggested premium range above a general guide to costs for extending a lease, but we cannot give you a more accurate figure without more comprehensive due diligence. Do not use the figures in a Notice of Claim or as an informal offer. There are no doubt additional concerns that need to be considered and you obviously want to be as accurate as possible in your negotiations. You should not move forward based on this information before seeking the advice of a professional.
We are purchasing a four room flatin Topsham with a home loan from a lender. We wish to instruct our lawyer in Topsham yet our lender inform us now that he's not on their "panel". Apparently we need to choose from the our bank panel solicitors or stay with our Topsham conveyancer and pay for one of their panel ones to represent them. This seems very unfair; Can we not simply insist that our lender use our Topsham lawyer?
Unfortunately,no. The bank mortgage offered to you is subject to its terms and conditions, one of which will be that lawyers will on the bank's conveyancing panel. in the past, most lenders had open panels, including most conveyancing solicitors in Topsham : a mortgagee 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. A further alternative is for your lawyer to apply to be on the conveyancing panel for your mortgage company.