My son is buying a newly built flat in Trowbridge with a home loan from Bank of Ireland. His solicitor 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 involved in the purchase. 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.
My mortgage company has suggested a law firm on their panel based in Trowbridge but I would rather use a conveyancing lawyer in Trowbridge round the corner to me. Can you help?
It is by no means the case that all Trowbridge conveyancing practices are listed all lender’s conveyancing panel. Please make the most of the above search tool to locate a Trowbridge conveyancing conveyancer on the on the mortgage company panel.
How does conveyancing in Trowbridge differ for new build properties?
Most buyers of new build or newly converted property in Trowbridge contact us having been asked by the seller to sign contracts and commit to the purchase even before the house is ready to move into. This is because new home sellers in Trowbridge typically buy the site, 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 conveyancing solicitors 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 Trowbridge or who has acted in the same development.
I need to find a conveyancing solicitor for remortgage conveyancing in Trowbridge. I happened to discover a web site which seems to have the ideal solution If there is a chance to get all the legals completed via web that would be preferable. Should I be concerned? What are the potential pitfalls?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?
My sealed bid on house in Trowbridge was agreed to, the seller does nevertheless have a tied purchase. The vendors have put an offer on somewhere, however it’s not yet agreed to, and has viewings of other flats booked. I have chosen a nearby conveyancing lawyer in Trowbridge. What do I do now? When do I get the mortgage application with Barclays started with Barclays?
It is usual to have concerns where there is an associated chain given your reluctance to be too out of pocket prematurely (home loan application is in the region of £1k, then survey, Trowbridge conveyancing search costs, etc). First, you must check that your property lawyer is on the Barclays conveyancing panel. As to the subsequent steps this very much dictated by the uniqueness of your case, desire for the property and on the state of the market. In a rising market some buyers will apply for the mortgage with Barclays and pay for the survey and only if it was satisfactory would they ask their solicitor to press on with searches.