Our nephew is about to exchange on a new build apartment in Blaydon On Tyne with a home loan from Nottingham. His conveyancer has said that there is a delay in completing 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 transaction. Therefore, it will be provided to your son’s lawyer who should be on the Nottingham 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 Nottingham conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.

At what point does exchange of contracts take place for purchase conveyancing in Blaydon On Tyne and am I required to attend the conveyancers branch?

Where you are near to our conveyancing solicitors in Blaydon On Tyne you are invited in to sign contracts. That being said, the law practices we recommend provide countrywide coverage for conveyancing and provide just as diligent and professional a job for you when communicating with you by post or email. The signing of the contract is not when everything is set in stone. A signed contract simply enables the solicitor to officially exchange when the time is right, which is ordinarily shortly after signing. The exchange process is is usually a five minute process, although where a lengthy "chain" is involved, since the process requires the relevant party's solicitor (not necessarily a conveyancing solicitor in Blaydon On Tyne)to be in the office available at the end of the phone to exchange contracts.

I've recently found out that there is a flying freehold issue on a property I put an offer in last month in what should have been a simple, chain free conveyancing. Blaydon On Tyne is where the house is located. Can you shed any light on this issue?

Flying freeholds in Blaydon On Tyne are unusual but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Blaydon On Tyne you must be sure that your lawyer goes through the deeds very carefully. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Blaydon On Tyne may ascertain that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold property.

How do I identify a Blaydon On Tyne solicitor on the Platform Home Loans Ltd conveyancing panel? I have wheels and am happy to travel upto 20kilometers to meet the solicitor.

Feel free to make use of the facility on this website. Please choose the mortgage company and your location and you will see a number of Blaydon On Tyne conveyancing lawyers based on proximity. We have detailed some Blaydon On Tyne conveyancing firms at the bottom of this page and you can call them to verify whether they are on the Platform Home Loans Ltd approved list

What makes a Blaydon On Tyne lease unacceptable for security purposes?

Leasehold conveyancing in Blaydon On Tyne is not unique. Most leases are unique and legal mistakes in the legal wording can sometimes mean that certain clauses are not included. For example, if your lease is missing any of the following, it could be defective:

A duty to insure the building A provision to repair to or maintain elements of the property

A defective lease can cause problems when trying to sell a property primarily because it impacts on the ability to obtain a mortgage on the property. Barclays , The Royal Bank of Scotland, and Alliance & Leicester all have very detailed requirements when it comes to what is expected in a lease. If a mortgage lender believes that the lease is defective they may refuse to provide security, obliging the buyer to pull out.

I purchased a 1st floor flat in Blaydon On Tyne, conveyancing having been completed half a dozen years ago. Can you work out an approximate cost of a lease extension? Comparable flats in Blaydon On Tyne with a long lease are worth £176,000. The average or mid-range amount of ground rent is £50 per annum. The lease ceases on 21st October 2075

With 50 years unexpired the likely cost is going to range between £31,400 and £36,200 as well as professional fees.

The figure that we have given is a general guide to costs for extending a lease, but we cannot give you a more accurate figure without more detailed investigations. You should not use the figures in tribunal or court proceedings. There are no doubt additional concerns that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. You should not move forward based on this information before getting professional advice.