Our grandson is purchasing a house that has just been built in Rotherhithe with a home loan from Nationwide. His conveyancer has said that there is a delay in completing the ‘Disclosure of Incentive Form’. This document is news to me - what is it and who needs sight of it?
The form 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 Nationwide 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 Nationwide conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.
Last month we had a mortgage agreed in principle with RBS. Rotherhithe conveyancing solicitors were instructed. What is the average time that one could expect to receive a mortgage offer from RBS?
Some lenders take longer than others. Have RBS done the survey? Have you advised RBS as to your lawyers' details and checked that your lawyers are on the RBS conveyancing panel? Sometimes it can take as long as six weeks for a mortgage offer to be issued.
I've read lots of mortgage guides, I note that they all recommend that you should get your house surveyed prior to buying it. When I asked my local Rotherhithe solicitor - who is on the Yorkshire BS conveyancing panel - on this she said they don't do this and I need to contract an independent surveyor. Is that normal?
Yorkshire BS will need an independent valuation of the property. Your lawyer will not arrange this. Usually Yorkshire BS will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey. You may wish to consider appointing your own Rotherhithe surveyor to carry out a survey or prepare a home buyers report on the property. It is up to you to satisfy yourself that the property is structurally sound before you buy it. If the survey or report reveals that building work is needed, you should tell your solicitor. You may wish to renegotiate with the seller.
Co-operative have agreed my home loan in principle, my offer on a apartment in Rotherhithe has been agreed to, now what?
Your property agent will want to know who your solicitors are (be sure the conveyancers are on the bank’s approved list). Call up Co-operative or your financial adviser and finish off any outstanding documentation. Co-operative will sellect a valuer who will get in touch with the selling agent or seller to book a time for the valuation to happen. Once conducted (assuming no problems) it takes about a week for the mortgage offer to be issued. Co-operative will send the offer to you and your solicitors. The legal work will then take it’s course according the nature and complexity of the conveyancing in Rotherhithe.
What does a local search tell me about the house my wife and I purchasing in Rotherhithe?
Rotherhithe conveyancing often starts with the ordering local authority searches directly from your local Authority or through a personal search organisations such as Onsearch The local search is essential in every Rotherhithe conveyancing purchase; that is if you don’t want any unpleasant surprises after you move into your new home. The search should supply information on, amongst other things, details on planning applications applicable to the premises (whether granted or refused), building control history, any enforcement action, restrictions on permitted development, nearby road schemes, contaminated land and radon gas; in all a total of thirteen topic sections.
Me and my brother own a terraced Georgian house in Rotherhithe. Conveyancing solicitor acted for me and Yorkshire Building Society. I did a free Land Registry search last week and there are two entries: one for freehold, the second leasehold with the exact same address. If a house is not a freehold shouldn't I have been informed?
You should read the Freehold register you have again and check the Charges Register for mention of a lease. The best way to be sure that you are also the registered owner of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Rotherhithe and other locations in the country and poses no real issues for owners other than when they sell they have to account for both freehold and leasehold interests when dealing with purchasers. You can also question the situation with the conveyancing solicitor who carried out the work.
I am downsizing from my property. My former conveyancers have shut. I would be grateful for any recommendation of a conveyancing firm. I happen to live in Rotherhithe if that makes a difference.
Do use our search tool to help you find a solicitor for your conveyancing in Rotherhithe. We have connected thousands of home buyers and sellers with regulated solicitors to ensure that the legalities of their house move goes smoothly.