Our grandson is purchasing a newly built flat in Whitworth with a home loan from Lloyds. His conveyancer has said that there is a delay in receiving the ‘Disclosure of Incentive Form’. What is this document - I have never come across this before?
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 Lloyds 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 Lloyds conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.
Why do I have to pay up front when it comes to conveyancing in Whitworth?
Where you are retaining lawyers for conveyancing in Whitworth your solicitor will request that you put them with monies to cover the the cost of the conveyancing searches. Ordinarily this is asked for to cover the fees of the conveyancing searches. When the deposit is payable against the total price then this should be required shortly prior to contracts are exchanged. The final balance that is due should be transferred shortly before completion.
My home in Whitworth is up for sale and I have accepted an offer. Will my solicitor have to be required to be on the Lloyds conveyancing panel in order to deal with repayment of my mortgage?
Ordinarily, even if your lawyer is not on the Lloyds conveyancing panel they can still act for you on your sale. It might be that the lender will not release the original deeds (if applicable and increasingly irrelevant) until after the mortgage is paid off. You should speak to your lawyer directly before you start the process though to ensure that there is no problem as lenders are changing their requirements fairly frequently currently.
I used Wolstenholmes several years ago for my conveyancing in Whitworth. Now, I need the documents however cannot find the solicitor. What do I do?
Do contact the Solicitors Regulatory Authority (SRA) to help locate your conveyancing files. They can be contacted on please contact on 0870 606 2555. Alternatively, you should use their online form to make an enquiry. You will need to provide the SRA with as much information as possible to assist their search, including the name and address in Whitworth of the conveyancing firm of solicitors you previously retained, the name of conveyancing solicitor with whom you had dealings, and the date on which you last had dealings with the firm.
My husband and I are selling a Whitworth apartment we inherited 5 years ago in 2011. I have over a decades worth of conveyancing know-how and, although retired, intend to carry out my own legal work. The purchaser's conveyancing practitioner has informed me that their bank will not allow us to do our own conveyancing as they require the funds to be passed via a solicitor's bank account.
Lending requirements to conveyancing practitioners from all CML members state that If the seller does not have legal representation the buyer’s lawyers should check whether the bank needs to be notified so that a decision can be made if they are willing to proceed.