I am obtaining a mortgage offer from Halifax. I would like to instruct a Licensed Conveyancer in Wotton under Edge. Does the Halifax Conveyancing panel include Licensed Conveyancers?
The Halifax approved solicitor list is, like many other lenders, associated to the CML or Building Society Association, open to Licensed Conveyancers regulated by the CLC.
Our grandson is in the process of securing a house that has just been built in Wotton under Edge with a mortgage from Co-operative. His lawyer 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 engaged in the purchase. 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 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 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.
Will my conveyancing lawyers need to check that the building insurance when buying a house in Wotton under Edge. My lender is Bank of Ireland
Bank of Ireland have specific requirements as set out in the UK Finance Lenders’ Handbook. As of 14/4/2024, the requirements read as follows :
It has been 4 months since my purchase conveyancing in Wotton under Edge took place. I have checked the Land Registry website which shows that I paid £150,000 when infact I paid £215,000. 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 property 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.
Due to the advice of my in-laws I had a survey completed on a property in Wotton under Edge prior to retaining lawyers. I have been advised that there is a flying freehold aspect to the property. My surveyor advised that some banks may refuse to issue a loan on this type of premises.
It depends who your proposed lender is. Santander has different requirements for example to Nationwide. Should you wish to telephone us we can check with the appropriate bank. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Wotton under Edge. Conveyancing may be slightly more expensive based on your lender's requirements.
I am a negotiator for a reputable estate agency in Wotton under Edge where we have experienced a few flat sales put at risk due to short leases. I have received inconsistent advice from local Wotton under Edge conveyancing solicitors. Can you shed some light as to whether the owner of a flat can start the lease extension process for the purchaser on completion of the sale?
Provided that the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to kick-start the lease extension process and assign the benefit of the notice to the purchaser. This means that the buyer can avoid having to sit tight for 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment has to be done prior to, or at the same time as completion of the sale.
Alternatively, it may be possible to agree the lease extension with the freeholder either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the buyer.
Wotton under Edge Leasehold Conveyancing - Sample of Queries Prior to buying
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What restrictions are there in the Wotton under Edge Lease? It is important to be aware if changing the roof or some other major work is due in the near future that will be shared by the leaseholders and will materially increase the the maintenance costs or require a specific payment.