Our son-in-law is in the process of securing a house that has just been built in Emsworth with a mortgage from Nationwide. His conveyancer has advised him of a delay in completing the ‘Disclosure of Incentive Form’. This document is news to me - what is it and who needs sight of it?
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 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 Nationwide conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.
My Conveyancer in Emsworth is not on the Alliance & Leicester Solicitor Panel. Is it possible for me to continue with my family solicitor notwithstanding that they are not on the Alliance & Leicester list of approved lawyers?
Your options are as follows:
- Complete the purchase with your existing Emsworth lawyers but Alliance & Leicester will need to instruct a conveyancer on their list of acceptable firms. This will result in additional total legal charges and cause delays.
- Choose an alternative solicitor to act in the conveyancing, remembering to check they are Convince your solicitor to do everything within their powers to join the Alliance & Leicester conveyancing panel
My wife and I are buying a flat in Emsworth. I might seem paranoid but how we can trust a lawyer? At some point we will need to send funds into their account. What protection do we have from them run away with our money?
Be assured that all money in a Solicitors client account is 100% safe, and even if your Solicitor ran off with it, the Law Society would reimburse you fully.
My wife and I have arranged a further advance on our home loan from Barclays as we wish to conduct alterations to our home in Emsworth. Are we obliged to choose a high street Emsworth solicitor on the Barclays conveyancing panel to handle the legals?
Barclays don't usually appoint firms on their conveyancing panel to handle such a matter. If they do require any legal work then you would need to ensure that such a lawyer was on the Barclays list.
At last I have had an offer on a maisonette in Emsworth agreed to, the sellers do nevertheless have a tied purchase. The sellers have put an offer on a property, but it’s not been accepted yet, and are looking at other flats booked. I have chosen a nearby conveyancing solicitor in Emsworth. What do I do now? When do I get the mortgage application with UBS going?
It is normal to have apprehensions where there is a chain as you are unlikely to want to be too out of pocket prematurely (mortgage application is approx one thousand pounds, then valuation, Emsworth conveyancing search fees, etc). The first course of action is to check that your lawyer is on the UBS conveyancing panel. Regarding the subsequent phase this very much dictated by the specifics of your transaction, motivation for this property and on the state of the market. During a hot market some home buyers would apply for a home loan with UBS and arrange for the valuation and only if it comes back ok would they request their lawyer to move forward with searches.
I have been told that property searches are the main reason for obstruction in Emsworth conveyancing transactions. Is this right?
The Council of Property Search Organisations (CoPSO) has noted the determinations of research by MoveWithUs that conveyancing searches do not feature amongst the common causes of hindrances in the conveyancing process. Local searches are not likely to feature in any delay in conveyancing in Emsworth.
I decided to have a survey completed on a house in Emsworth ahead of instructing solicitors. I have been told that there is a flying freehold aspect to the property. The surveyor advised that some banks will refuse to issue a loan on a flying freehold property.
It depends who your proposed lender is. HSBC has different requirements from Halifax. If you contact us we can investigate further with the relevant bank. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Emsworth. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Emsworth to see if the conveyancing will be more expensive.