Our son is buying a new build apartment in Thornaby with a mortgage from Virgin Money. His solicitor 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 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 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 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.
Do I need to have a meeting at the offices of the solicitor to execute the mortgage deed? If so, I will appoint a lawyer who conducts conveyancing in Thornaby so that I can attend their offices if necessary.
Most approved lawyers for banks undertake all of the communications via Royal Mail, internet or over phone calls. This enables them to carry out the conveyancing transaction no matter where you live in England or Wales. Nevertheless you can see if you have the option of attending the offices of your conveyancing lawyer if just in case this is required.
Despite weeks of looking the Title Certificate and documents to my home can not be found. The lawyers who handled the conveyancing in Thornaby 5 years ago have long since closed. What are my next steps?
You no longer need to hold title original deeds to establish that you own the land or premises, given that the Land Registry have everything they need in a digital format.
My father-in-law has suggested that I appoint his conveyancing solicitors in Thornaby. Should I use them?
No doubt the ideal way to choose a conveyancing practitioner is to have feedback from friends or relatives who have actually previously instructed the firm you're contemplating using.
I am in need of some leasehold conveyancing in Thornaby. Before diving in I would like to find out the number of years remaining on the lease.
Assuming the lease is registered - and most are in Thornaby - then the leasehold title will always include the short particulars 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 garden flat in Thornaby, conveyancing was carried out in 2002. Can you work out an approximate cost of a lease extension? Equivalent properties in Thornaby with over 90 years remaining are worth £186,000. The average or mid-range amount of ground rent is £55 yearly. The lease ends on 21st October 2077
With 52 years unexpired we estimate the premium for your lease extension to be between £29,500 and £34,000 plus costs.
The suggested premium range above a general guide to costs for renewing a lease, but we are not able to provide a more accurate figure in the absence of comprehensive due diligence. You should not use the figures in a Notice of Claim or as an informal offer. There may be additional issues that need to be considered and clearly you should be as accurate as possible in your negotiations. Please do not take any other action placing reliance on this information without first getting professional advice.