Our nephew is in the process of securing a new build apartment in Canvey Island with a home loan from Bank of Ireland. 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 involved in the purchase. 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 valuer 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.
I am considering applying for a Nationwide mortgage for purchase of a new build (under development) in Canvey Island with 70% LTV. Is it compulsory to choose a solicitor on the conveyancing panel for Nationwide ?
In theory, you could use a solicitor that is not on the Nationwide conveyancing panel, but Nationwide would require one of their panel solicitors to be instructed to act in their interests, and you'd have to pay for this - so most people instruct a panel solicitor. It's also easier, as otherwise you'd have to deal with two solicitors for the same conveyancing matter.
This question may be naive but I am unexperienced as a 1st time purchaser of a garden flat in Canvey Island. Do I collect the keys to the premises on the completion date from my solicitor? If this is the case, I will use a local conveyancing solicitor in Canvey Island?
On the day of completion you do not need to go to the conveyancers office in Canvey Island. Your solicitors will transfer the completion advance to the owner’s lawyers, and once they have received this, you will be called to pick up the keys from the selling Agents and move into your new home. This tends to happen between 1 and 3pm.
My uncle pointed out to me me that in buying a property in Canvey Island there could be a number of restrictions limiting what one can do in terms of external alterations to a property. Is this right?
There are a number of properties in Canvey Island which have some sort of restriction or requirement of consent to perform external alterations. Part of the conveyancing in Canvey Island should determine what restrictions are applicable and advising you as part of a ROT that should be sent to you.
Completion of my purchase has taken place for my property in Canvey Island. Conveyancing was a necessary evil but I would like to complain about the lender. How does one go about formally complaining?
Most lenders have complaints procedures. Your first point of contact should be one of the lender’s branches or the Customer Care Department at head office. Ordinarily complaints to a lender are resolved effectively and efficiently. However if you are not satisfied that the matter is not resolved you can write to Financial Ombudsman Service, South Quay Plaza, 183 Marsh Wall, London E14 9SR who will take matters further.
How does conveyancing in Canvey Island differ for new build properties?
Most buyers of new build or newly converted property in Canvey Island contact us having been asked by the developer to sign contracts and commit to the purchase even before the residence is finished. This is because new home sellers in Canvey Island typically acquire the real estate, 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 used to new build conveyancing in Canvey Island or who has acted in the same development.
In my capacity as executor for the estate of my aunt I am selling a house in Newport but live in Canvey Island. My conveyancer (who is 300 kilometers from mehas requested that I sign a stat dec ahead of the transaction finalising. Can you recommend a conveyancing lawyer in Canvey Island who can witness and place their company stamp on the document?
Technically speaking you are unlikely to need to have the documents witnessed by a conveyancing solicitor. Ordinarily any notary public or solicitor will be fine regardless of whether they are Canvey Island based