Our son-in-law is in the process of securing a new build apartment in Aintree with a home loan from Lloyds. His conveyancer has said that there is a delay in completing 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 involved in the transaction. 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.
I am purchasing a house and require a conveyancing solicitor in Aintree who is on the The Royal Bank of Scotland approved. Can you recommend a local firm?
Our service is limited to being a directory service for firms who wish to listed as being on the approved conveyancing panel for The Royal Bank of Scotland in certain locations such as Aintree. We dont recommend any particular firm.
We are buying a property in Aintree. It might be a silly question but how we can trust a solicitor? At some point we will need to deposit funds into their account. What protection do we have from them run away with our deposit?
Be assured that all money in a Solicitors client account is 100% safe, and even if your Solicitor ran off with it, the Law Society would reimburse you fully.
I recently had an offer accepted on a house in Aintree. My financial adviser suggested a property lawyer. I paid an on account payment of £225. Shortly after, the conveyancing practitioner contacted me embarrassingly acknowledging that they were not on the Principality conveyancing panel. Am I right in thinking that I should be due a refund?
You should be able to recover this from the law firm if they were not on the Principality panel. They should have asked at the outset which lender you were obtaining a mortgage with. An important lesson to readers of this site is to check that the lawyers are on the appropriate lender panel.
My sealed bid on a detached house in Aintree has been agreed to, the vendors do nevertheless have a tied purchase. The owners have offered on somewhere, but it’s not yet agreed to, and are looking at other flats booked. I have selected a high street conveyancing solicitor in Aintree. What should be my next step? When should I get the mortgage application with Clydesdale going?
It is normal to have concerns where there is a chain as you are unlikely to want to incur costs too early (home loan application is in the region of £1k, then valuation, Aintree conveyancing search fees, etc). The first thing to do is check that your conveyancing practitioner is on the Clydesdale conveyancing panel. As to the subsequent stages this very much dictated by the circumstances of your case, desire for the property and on the state of the market. During a rising market the majority of buyers will apply for a home loan with Clydesdale and pay for the valuation and only if it was satisfactory would they pay their lawyer to move forward with searches.
My wife and I own a terraced Edwardian property in Aintree. Conveyancing lawyer represented me and HSBC Bank. I happened to do a free search for it on the Land Registry database and I saw two entries: the first freehold, another for leasehold under the matching address. If a house is not a freehold shouldn't I have been informed?
You should read the Freehold register you have again and check the Charges Register as there may be mention of a lease. The best way to be sure that you are also the registered proprietor of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Aintree and other locations in the country and poses no real issues for owners other than when they mortgage they have to account for both freehold and leasehold interests when dealing with mortgage companies. You can also enquire as to the situation with your conveyancing solicitor who conducted the conveyancing.
I've recently found out that there is a flying freehold element on a property I put an offer in last month in what should have been a simple, no chain conveyancing. Aintree is where the house is located. Is there any guidance you can give?
Flying freeholds in Aintree are not the norm but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Aintree you would need to get your solicitor to go through the deeds thoroughly. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Aintree may ascertain that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold property.
Do I stop the direct debit for my mortgage with Nationwide as soon as a completion date for my home sale in Aintree has been set?
No, you must keep meeting any mortgage sums to Nationwide until the mortgage is discharged out of the proceeds of sale as part of your Aintree conveyancing.