Our son-in-law is purchasing a newly built flat in Buckhurst Hill with a mortgage from TSB. His solicitor has said that there is a delay in receiving the ‘Disclosure of Incentive Form’. This document is news to me - what is it and who needs sight of it?
The document 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 TSB 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 TSB conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.
My wife and I have recently appointed a conveyancing solicitor in Buckhurst Hill. I I would like to check if they are accepted on the Alliance & Leicester approved list of lawyers. Could you or the lender confirm if they are on the panel?
The first thing you should do is call the solicitor and ask them whether they are on the lender panel. Otherwise you can call Alliance & Leicester who may be able to help.
I have been told that property searches are the main reason for stalling in Buckhurst Hill conveyancing transactions. Is there any truth in this?
The Council of Property Search Organisations (CoPSO) has noted the findings of a review by MoveWithUs that conveyancing searches do not figure within the top 10 causes of delays during the legal transfer of property. Searches are not likely to feature in any delay in conveyancing in Buckhurst Hill.
How does conveyancing in Buckhurst Hill differ for newly converted properties?
Most buyers of new build or newly converted property in Buckhurst Hill come to us having been asked by the housebuilder to sign contracts and commit to the purchase even before the premises is constructed. This is because builders in Buckhurst Hill typically acquire the site, 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 property lawyers 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 Buckhurst Hill or who has acted in the same development.
I need to find a mortgage company panel solicitor in Buckhurst Hill. Can you assist?
Unfortunately it’s not apparent why you need a Buckhurst Hill panel solicitor but in any event, if you can not find one on our search tool you will need to speak directly to the lender to find out which solicitors in Buckhurst Hill are on their panel . If you do find such a firm in Buckhurst Hill not listed please direct them to our site to list. At a fee of one pound per month it is not expensive to register on the site