My grandson is in the process of securing a house that has just been built in Holbrook with a mortgage from Yorkshire BS. His conveyancer 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 form 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 Yorkshire BS conveyancing panel as a standard part of the process, and to the surveyor when requested. 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 Yorkshire BS conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.
Are the BSA planning on creating a searchable register to list firms on the Coventry BS conveyancing panel for instance in Holbrook?
We would not expect to be advised of any intention on the part of the BSA to develop such a tool.
I decided to have a survey carried out on a house in Holbrook ahead of appointing solicitors. I have been advised that there is a flying freehold overhang to the property. Our surveyor has said that some banks tend refuse to issue a mortgage on a flying freehold premises.
It depends who your proposed lender is. Bank of Scotland has different instructions from Nationwide. If you call us we can investigate further with the appropriate lender. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Holbrook. Conveyancing may be slightly more expensive based on your lender's requirements.
Do I need to be suspicious about estate agents that I am dealing with are recommending an internet conveyancing firm rather than a High Street Holbrook conveyancing firm?
As is the case with many professional services, often suggestions from relatives can be worth their weight in gold. Nevertheless there are many parties with a keen interest in a conveyancing transaction; estate agents, mortgage brokers and lenders may suggest solicitors to use. On occasion the lawyers might be known to one of the organisations as experts in their field, but occasionally there may be a commercial relationship behind the endorsement. You have the right to choose your preferred conveyancer. You need to be aware that the majority of banks have an approved list of lawyers you must use for the lender related work in your conveyancing.
My uncle has encouraged me to use his lawyers for conveyancing in Holbrook. Do I take his recommendation?
No doubt it’s preferable to choose a conveyancing lawyer is to seek feedback from friends or family who have actually used the conveyancer you're considering.