My grandson is in the process of securing a new build apartment in Timsbury with a mortgage from Lloyds. His solicitor has advised him of a delay in receiving the ‘Disclosure of Incentive Form’. Who needs to receive the form?
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 Lloyds 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 Lloyds conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.
Is there a reason why leasehold purchase conveyancing in Timsbury costs more?
Timsbury leasehold properties involve far more paperwork than a freehold purchase, and therefore takes more time to examine and advise upon.Conveyancing will involve the lease having to be checked which is usually a lengthy document, queries raised to ensure that the covenants and conditions have been observed. If it is a flat there will be a management company in existence and the accounts of this will need to be checked and enquiries raised to ensure it is operating efficiently and that all monies due have been paid by the Seller to the company and if not ensuring that money is paid up to date or the appropriate undertakings obtained.
I am purchasing a property and require a conveyancing solicitor in Timsbury who is on the Virgin Money conveyancing. Can you recommend a local firm?
Our service is limited to being a directory service for firms who wish to listed as being on the approved conveyancing panel for Virgin Money in certain locations such as Timsbury. We dont recommend any particular firm.
My bid for a property was accepted at auction in Timsbury. Conveyancing is required. What is next?
Given that you are now exchanged you now have to hire the services of a conveyancing lawyer quickly as you will have a fast approaching a fixed date to complete the deal. Every auction property will have a bespoke auction pack. This will include most,if not all of the documents that your conveyancer requires. Where you are dealing with leasehold premises the auction pack may provide a copy of the lease, management information and a sellers leasehold information form and other conveyancing paperwork relating to leasehold premises. You need to hand this to the solicitor instructed by you at the earliest opportunity. You also need to ensure that that you have the requisite funding in order to complete the transaction on the set completion date.
I am the only beneficiary of my late father’s will with all property in now in my sole name, including the my former home in Timsbury. The Timsbury property was put into my name in November. I now wish to sell up. I do know about the Mortgage Lenders 6 month 'rule', which means that my proprietorship will be considered the same way as if I'd bought the property in November. Do I have to wait 6 months to sell?
The Council of Mortgage Lenders’ handbook requires conveyancers to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." Technically you could be impacted by that. How sensible a view mortgage companies take of it, depend on the lender as this requirement is primarily there to identify the purchase and immediately sell or the wholesaling and assigning of properties.
We have a mortgage agreed in principle with RBS. Timsbury conveyancing practitioners have been appointed. How long does it take for RBS to send the offer to the conveyancer?
Some lenders take longer than others. Have RBS done the valuation? Have you informed RBS as to your lawyers' details and checked that your lawyers are on the RBS conveyancing panel? It is not unusual for a mortgage offer to take a month to come through.
Despite weeks of looking the Title Certificate and documents to my property are lost. The lawyers who handled the conveyancing in Timsbury 4 years ago no longer exist. What are my options?
Gone are the days when you need to hold title deeds to establish that you own the land or property, as the Land Registry have everything they need in a digital format.