Our nephew is about to exchange on a newly built flat in Bradmore with a mortgage from Santander. His lawyer 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 Santander 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 Santander conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.
What happens if my solicitor is expelled from the Lloyds Solicitor panel ahead of completing my conveyancing in Bradmore?
The first thing to point out is that, this is very unlikely to happen. In most cases even where a law firm is removed off of a panel the lender would allow the completion to go ahead as the lender would appreciate the difficulties that they would place you in if you have to instruct a new solicitor days before completion. In a worst case scenario where the lender insists that you instruct a new firm then it is possible for a very good lawyer to expedite the conveyancing albeit that you may pay a significant premium for this. The analogous situation is where a buyer instructs a lawyer, exchanges contracts and the law firm is shut down by a regulator such as the SRA. Again, in this situation you can find lawyers who can troubleshoot their way to bring the conveyancing to a satisfactory conclusion - albeit for a fee.
Can you point me to a directory of Virgin Money panel solicitors in Bradmore on the Council of Mortgage Lender’s Website?
Unfortunately not yet. There is no such directory service on the CML or Building Society Association sites. A small selection of banks make their panel listings available over the internet. If you are looking for a Bradmore conveyancing practitioner on the Virgin Money please use our tool.
I am purchasing a property in Bradmore. A rare aspect is that the roof has a solar panel. Solicitors conducting should look into this right? Will my lender RBS be concerned?
Given that your lender is RBS your lawyer must comply with the conveyancing instructions set out in Section 2 of UK Finance Lenders’ Handbook for RBS. The CML Handbook includes minimum conditions for solar panel roof-space leases, and conveyancers are required to report to RBS where a lease does not meet these specifications. The requirements relate to the installation of panels on properties countrywide and is not restricted to Bradmore.
I have decided to exercise my right to buy my property in Bradmore off the council. I have a mortgage agreed with Principality. Conveyancing is new to me. Can I proceed without a solicitor easily? I think we can but we keep being told I should have one. Any advice?
It is not advisable to proceed with a house purchase without a solicitor. The council's solicitor are not acting for you. You need a solicitor for a number reasons. One of which is to verify what plans the Council have for repairs and refurbishment for the next five years. Many leaseholders have been stung for contributions of thousands of pounds. In any event, if you are getting a mortgage with Principality, you will need to appoint a solicitor on the Principality conveyancing panel.
How does conveyancing in Bradmore differ for new build properties?
Most buyers of new build property in Bradmore come to us having been asked by the developer to sign contracts and commit to the purchase even before the house is finished. This is because builders in Bradmore usually purchase the land, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancing solicitors as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are accustomed to new build conveyancing in Bradmore or who has acted in the same development.
My step-father has recommend that I use his lawyers for conveyancing in Bradmore. Do I follow his recommendation?
No doubt the best way to choose a conveyancing solicitor is to seek referrals from friends or relatives who have actually used the solicitor that you are are thinking of instructing.