My nephew is in the process of securing a newly built flat in Cambridgeshire with a mortgage from Coventry BS. His lawyer has advised him of a delay in receiving the ‘Disclosure of Incentive Form’. What is this document - I have never come across this before?
The document is intended to provide information to the main parties involved in the purchase. Therefore, it will be provided to your son’s lawyer who should be on the Coventry BS 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 Coventry BS conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.
Please explain the implications if my solicitor is removed from the Co-operative Conveyancing panel ahead of completing my conveyancing in Cambridgeshire?
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 at a cost.
My wife and I are spending time viewing apartments in Cambridgeshire and I am about to put in an offer. Is it wise to have my conveyancing practitioner on ‘stand by’? I will be getting a mortgage with Bank of Ireland.
It would be sensible to start your search sooner rather than later. After you have chosen your lawyer and once your offer is accepted you can instruct them to work for you and forward their details on to the EA. As you are taking out a mortgage with Bank of Ireland, ask your prospective lawyers if they are on the Bank of Ireland conveyancing panel otherwise they can't do the mortgage legal work.
I have today made my last payment due on my mortgage with TSB. I assume I don't need a Cambridgeshire lawyer on the TSB panel to discharge the mortgage at the Land Registry. Please confirm.
If you have finished paying off your TSB mortgage, they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the TSB mortgage from the register. TSB, and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:
- but are not moving to another property
- where TSB has sent the Land Registry the discharge electronically, and
- TSB has instructed the Land Registry to do so
I recently had an offer accepted on an apartment in Cambridgeshire. My mortgage broker suggested a lawyer. I paid an upfront payment of £225. A couple of days later, the conveyancing practitioner contacted me to say that they were not on the Yorkshire BS conveyancing panel. Am I right in thinking that I should be due a refund?
You should be able to recover this from the law firm if they were not on the Yorkshire BS panel. They should have asked at the outset which lender you were obtaining a mortgage with. An important lesson to readers of this site is to check that the lawyers are on the appropriate lender panel.
My husband and I are new on the property ladder - agreed a price, but the agent advised that the seller will only move forward if we appoint their chosen lawyers as they need a ‘quick sale’. Our preferred option is to instruct a local solicitor with experience of conveyancing in Cambridgeshire
It is improbable the owners are behind this. Should the seller require ‘a quick sale', alienating a serious purchaser is counter productive. Bypass the agents and go straight to the sellers and make the point that (a)you are keen to buy (b)you are ready to progress, with mortgage lined up © you do not need to sell (d) you wish to move quickly (e)however you intend to appoint your own,trusted Cambridgeshire conveyancing lawyers - rather thanthe ones that will earn their negotiator at the agency a kickback or achieve conveyancing thresholds set by senior management.
I am hoping to put an offer on a small detached house that appears to tick a lot of boxes, at a reasonable figure which is making it more attractive. I have just been informed that the title is leasehold as opposed to freehold. I would have thought that there are particular concerns purchasing a leasehold house in Cambridgeshire. Conveyancing advisers have are about to be appointed. Will my lawyers set out the risks of buying a leasehold house in Cambridgeshire ?
Most houses in Cambridgeshire are freehold rather than leasehold. In this scenario it’s worth having a local solicitor who is familiar with the area can help the conveyancing process. We note that you are purchasing in Cambridgeshire so you should seriously consider shopping around for a Cambridgeshire conveyancing practitioner and check that they are used to dealing with leasehold houses. First you will need to check the unexpired lease term. As a leaseholder you will not be entirely free to do whatever you want to the property. The lease comes with conditions for example requiring the freeholder’spermission to conduct alterations. You may also be required to pay a maintenance charge towards the maintenance of the communal areas where the house is located on an estate. Your conveyancer should advise you fully on all the issues.