My son is about to exchange on a house that has just been built in Dursley with a mortgage from Nationwide. His solicitor has said that there is a delay in completing the ‘Disclosure of Incentive Form’. Who needs to receive the form?
The form 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 Nationwide 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 Nationwide conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.
It is is a decade since I purchased my house in Dursley. Conveyancing lawyers have recently been retained on the sale but I am unable to track down the title deeds. Is this a major issue?
You need not be too concerned. First the deeds may be retained by the lender or they may be archived with the solicitor who handled your purchase. Secondly the chances are that the land will be registered at the land registry and you will be able to establish that you are the registered owner by your conveyancing lawyers obtaining current official copies of the land registers. The vast majority of conveyancing in Dursley involves registered property but in the unlikely event that your property is unregistered it adds to the complexity but is resolvable.
I had intended to instruct a conveyancing solicitor in Dursley for our house purchase. Our broker informed us that our mortgage company Birmingham Midshires won't deal with them. Surely this is unduly restrictive?
A mortgage company will direct that an approved solicitor act for it. You would be expected to bear the cost of this. Do use our directory service to find a solicitor to conduct conveyancing in Dursley on the Birmingham Midshires member panel.
Should our solicitor be raising enquiries about flooding during the conveyancing in Dursley.
The risk of flooding is if increasing concern for lawyers carrying out conveyancing in Dursley. There are those who buy a house in Dursley, completely aware that at some time, it may be flooded. However, leaving to one side the physical damage, if a property is at risk of flooding, it may be difficult to get a mortgage, adequate insurance cover, or sell the premises. There are steps that can be taken during the course of a property purchase to forewarn the purchaser.
Solicitors are not best placed to offer advice on flood risk, however there are a numerous searches that may be initiated by the purchaser or on a buyer’s behalf which will give them a better appreciation of the risks in Dursley. The standard completed inquiry forms given to a purchaser’s lawyer (where the solicitors are adopting what is known as the Conveyancing Protocol) includes a usual inquiry of the vendor to find out whether the premises has ever been flooded. If the residence has been flooded in past and is not revealed by the vendor, then a buyer could issue a legal claim for losses resulting from an misleading response. A buyer’s conveyancers will also carry out an enviro report. This should disclose whether there is any known flood risk. If so, more detailed investigations will need to be carried out.
I moved into my house on 9 April and the transaction details is yet to be on the land registry website. Any reason for this? My conveyancing solicitor in Dursley advises it should be concluded inside ten days. Are transfers in Dursley particularly slow to register?
As far as conveyancing in Dursley is concerned, registration is no quicker or slower than anywhere else in England and Wales. As opposed to being determined by geographic area, timeframes can vary subject to the party submitting the application, whether there are errors and if the Land registry must send notices to any interested parties. As of today roughly three quarters of such applications are fully addressed in less than three weeks but some can be subject to longer delays. Historically registration occurs once the buyer has moved in to the premises therefore post completion formalities is not usually primary concern yet if it is urgent that the the registration takes place urgently then you or your conveyancer must communicate with the Registry to express the reasoning for an expedited registration.