My son-in-law is purchasing a house that has just been built in Lancing with a mortgage from UBS. His conveyancer has said that there is a delay in receiving 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 transaction. Therefore, it will be provided to your son’s lawyer who should be on the UBS 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 UBS 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 the sole beneficiary of my late mum's estate with all property in now in my sole name, including the house in Lancing. Conveyancing formalities meant that the Land Registry date was in January. I plan to dispose of the property. I do know about the Mortgage Lenders 6 month 'rule', which means that my property ownership may be considered the same way as though I had purchased the property in January. Is the property unsalable for six months?
The CML handbook requires solicitors to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." By the strict wording you might be caught by that. How practical a view lenders take of it, depend on the mortgage company as this clause chiefly exists to identify the purchase and immediately sell or the wholesaling and assigning of properties.
is it true that all Lancing conveyancing solicitors on the TSB conveyancing panel are regulated by the SRA?
As solicitors, in order to be on the TSB approved list of solicitors they would need to be regulated by the Solicitors Regulatory Authority. Many lenders do list licenced conveyancers on their panel in which case such practice would be overseen by the Council of Licensed Conveyancers.
My husband and I have organised a further advance on our home loan from Co-operative as we wish to carry out a loft conversion to our house in Lancing. Do we need to select a bricks and mortar Lancing solicitor on the Co-operative conveyancing panel to handle the paperwork?
Co-operative would not normally appoint a member of their conveyancing panel to deal with the formalities. If they do require any legal work then you would need to ensure that such a lawyer was on the Co-operative list.
How does conveyancing in Lancing differ for newly converted properties?
Most buyers of new build residence in Lancing come to us having been asked by the developer to sign contracts and commit to the purchase even before the residence is constructed. This is because builders in Lancing usually 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 accustomed to new build conveyancing in Lancing or who has acted in the same development.
My business partner and I are intending to take over a lease of a shop on the high street. Can you recommend solicitors offering fixed charges for commercial conveyancing in Lancing for below 2k?
We are happy to recommend firms who have an in-depth of experience of commercial conveyancing in Lancing, including the disposal and purchase of businesses as well as simply premises. Whether you are hoping to buy or lease a shop, pub, restaurant, office, retail unit or a whole business we will find you the right lawyer. Regarding the charges this will depend on the structure and heads of terms of the proposed transaction. Let us have your details or telephone us so that we can supply you with a detailed commercial conveyancing calculation.
My partner has suggested that I appoint his conveyancing solicitors in Lancing. Do I follow his guidance?
No doubt the best way to choose a conveyancing lawyer is to get guidance from friends or relatives who have actually used the solicitor that you are considering.