My grandson is buying a newly built flat in Stroud with a mortgage from Bank of Ireland. His lawyer has advised him of a delay in receiving the ‘Disclosure of Incentive Form’. Who needs to receive the form?

The form 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 Bank of Ireland 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 Bank of Ireland conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.

My Conveyancer in Stroud has never been on on the Britannia Conveyancing Panel. Is it possible for me to continue with my prefered solicitor notwithstanding that they are excluded from the Britannia approved list?

Your options are as follows:

1. Carry on with your preferred Stroud solicitors but Britannia will need to use a lawyer on their list of acceptable firms. This will inevitably rack up the overall conveyancing fees as well as result in frustration.
2. Get an alternative lawyer to to deal with the conveyancing, obviously checking they are on the Britannia panel

What is the difference between a licensed conveyancer and conveyancing solicitor in Stroud

There are many recorded licenced Conveyancers in Stroud and Solicitor partnerships in Stroud who provide Conveyancing services We would stress that the two are supervised by regulatory bodies with both specialising in the legal aspects of transferring property. They may both also conduct other property legal work such as remortgage conveyancing, lease extensions and transfer of equity conveyancing.

I am helping my sister sell her flat in Stroud. Will the conveyancer commission an energy assessment or it is for the seller to coordinate?

After the demise of Home Information Packs, EPC’s remained a required part of selling a property. An energy assessment needs to be to hand prior to the property being put on the market. This is not as aspect of the sale process that conveyancers ordinarily arrange. If you are instructing a Stroud conveyancing solicitor they may help arrange energy performance certificates due to their contacts with long established local energy assessors

I was told three weeks ago that my mortgage has been agreed to by Coventry BS. Is it usual for Coventry BS to only issue the offer once my solicitor in Stroud is approved on their conveyancing panel? Coventry BS have asked my solicitor to see a copy of their Professional Indemnity Insurance Schedule.

Mortgage companies tend not to not issue a mortgage until they have details of a lawyer on their panel. It can take a few weeks for Coventry BS to deal with your lawyer's application to be on the Coventry BS conveyancing panel. There's no guarantee that your solicitor will be accepted.

It has been four months following my purchase conveyancing in Stroud concluded. I have checked the Land Registry website which shows that I paid £150,000 when infact I paid £180,000. 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 residence 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.

I have just started marketing my basement apartment in Stroud. Conveyancing solicitors are to be appointed soon, but I have recently had a quarterly maintenance charge invoice – what should I do?

Your conveyancing lawyer is likely to suggest that you should clear the maintenance contribution as normal as all rents and service invoices will be allotted as part of the financial calculations for completion monies, so you will be reimbursed by the buyer for the period running from after the completion date to the subsequent invoice date. Most managing agents will not acknowledge the buyer until the service charges have been paid and are up to date, so it is important for both buyer and seller for the seller to show that they are up to date. Having a clear account will assist your cause and will leave you no worse off financially.

Stroud Conveyancing for Leasehold Flats - A selection of Queries Prior to buying

Does the lease include onerous restrictions? Where a Stroud lease has fewer than 80 years it will affect the value of the property. It is worth checking with your lender that they are happy with remaining years on the lease. Leases with fewer than 80 years remaining means that you will probably have to extend the lease sooner rather than later and it is worth finding out how much this will be. For most Stroudlease extensions you will be be obliged to have been the owner of the residence for a couple of years in order to be legally able to extend the lease. Plenty Stroud leasehold properties will be liable to pay a service charge for maintenance of the building levied on behalf of the freeholder. Where you buy the flat you will have to pay this amount, usually quarterly throughout the year. This could vary from several hundred pounds to thousands of pounds for blocks with lifts and large communal grounds. In all probability there will be a rentcharge to be met annual, ordinarily this is not a significant amount, say about £50-£100 but you should to check it because on occasion it can be surprisingly expensive.