My nephew is in the process of securing a house that has just been built in Thirsk with a home loan from Bank of Ireland. His lawyer 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 transaction. 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 have an AIP. The lender mentioned the mortgage came with free conveyancing. Does this mean I have to appoint their panel conveyancer as I would much rather use a high street conveyancing solicitor in Thirsk?
Do check but the chances are that allocate you one of their panel lawyers where you accept the "fee-free" deal. Speak to the mortgage company and see if they offer you a cash alternative. Some mortgage companies have previously offered a £250 cashback as a further option in which case that money can go towards your preferred conveyancing solicitor near Thirsk.
Will my solicitor be raising questions about flooding during the conveyancing in Thirsk.
Flooding is a growing risk for solicitors dealing with homes in Thirsk. There are those who purchase a house in Thirsk, fully aware that at some time, it may suffer from flooding. However, aside from the physical destruction, where a house is at risk of flooding, it may be difficult to get a mortgage, adequate building insurance, or dispose of the property. There are steps that can be taken as part of the conveyancing process to forewarn the purchaser.
Lawyers are not best placed to offer advice on flood risk, but there are a various checks that may be carried out by the buyer or on a buyer’s behalf which can give them a better appreciation of the risks in Thirsk. The conventional set of property information forms sent to a buyer’s lawyer (where the solicitors are adopting what is known as the Conveyancing Protocol) incorporates a usual inquiry of the vendor to discover whether the property has suffered from flooding. If the residence has been flooded in past and is not revealed by the vendor, then a purchaser could bring a claim for damages as a result of such an incorrect reply. A buyer’s conveyancers should also carry out an environmental search. This should higlight if there is any known flood risk. If so, additional inquiries will need to be made.
I am selling my property. My past conveyancers has retired. I am in need of a recommendation of a conveyancing firm. I happen to live in Thirsk if that makes things easier.
You should use our search tool to help you find a solicitor for your conveyancing in Thirsk. We have connected thousands of home buyers and sellers with lender approved solicitors to ensure that the legalities of their house move runs smoothly.
Why do I have to send my property lawyer with a list of items of identification ahead of starting my conveyancing in Thirsk?
Thirsk solicitors are required by the Law Society, SRA, HMLR and current Money Laundering legislation to certify that the have checked the identity of their clients. It will also be a condition of your bank where you are obtaining a mortgage. In addition they have to complete various forms, particularly those relating to SDLT and need to have details such as your full names, NI number and date of birth.