My nephew is purchasing a newly built flat in Hackbridge with a mortgage from Co-operative. His solicitor has advised him of 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 transaction. Therefore, it will be provided to your son’s lawyer who should be on the Co-operative conveyancing panel as a standard part of the process, and to the surveyor when requested. 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 Co-operative conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.
What does my ID and proof of funds have anything to do with my conveyancing in Hackbridge? Why is this being asked of me?
Hackbridge conveyancing solicitors and indeed property lawyers accross the UK have a duty under money laundering regulations to check the ID of any client with a view to satisfy themselves that clients are who they say they are.
Conveyancing clients will need to disclose two forms of certified identification; proof of identity (typically a Passport or Driving Licence) and proof of address (usually a Utility Bill no more than three months).
Proof of the origin of monies is also necessary in compliance with the money laundering laws as conveyancers are duty bound to ensure that the funds you are using to buy a property (be it the exchange deposit or the full purchase monies where you are buying without a mortgage) has come from a reputable source (such as employment savings) as opposed to the product of criminal behaviour.
we are a couple who intend to purchase a 3 bedroom apartment in Hackbridge with a homeloan from Skipton Building Society.We have a Hackbridge conveyancing lawyer but Skipton Building Society advised that she’s not listed on their "panel". It seems we are left with little choice but to instruct a Skipton Building Society panel solicitor or keep our preferred solicitor and fork out for a Skipton Building Society panel lawyer to act for them. We feel as though this is unjust; is there anything we can do?
No, not really. The loan issued to you contains various provisions, one of which will be that lawyers must be on the Skipton Building Society conveyancing panel. in the past, most lenders had large numbers of solicitors on their panels: a borrower could find one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. A further alternative is for your lawyer to apply to be on the conveyancing panel for Skipton Building Society
I am helping my sister sell her flat in Hackbridge. Will the solicitor arrange the energy assessment or it is for the seller to see to?
After the demise of Home Information Packs, energy assessments was maintained a compulsory part of moving property. An EPC must be to hand prior to the property being placed on the market. It is not as aspect of the sale process that lawyers normally arrange. Where you are using a Hackbridge conveyancing practitioner they may be willing to arrange energy performance certificates due to their relationships with long established local providers
When it comes to mortgage companies such as Lloyds, do Hackbridge lawyers face a fee to be on the conveyancing panel?
We are not aware of any mortgage company fees to be on their panel, although some do levy an administration fee to deal with the processing of the conveyancing panel application.
is it true that all Hackbridge solicitors on the RBS conveyancing panel are governed by the SRA?
As solicitors, in order to be on the RBS conveyancing panel they would need to be regulated by the SRA. Many banks do allow licenced conveyancers on their panel in which case such organisation would be regulated by the Council of Licensed Conveyancers.
Should commercial conveyancing searches reveal impending roadworks that may affect a commercial property in Hackbridge?
Many commercial conveyancing solicitors in Hackbridge will conduct a SiteSolutions Highways report as it dramatically cuts the time that conveyancers expend in sourcing accurate data on highways that impact buildings and development assets in Hackbridge. The search result provides definitive information on the adoption status of roads, footpaths and verges, as well as the implication of traffic schemes and the rights of way surrounding a commercial development sites in Hackbridge.
For every commercial conveyancing transaction in Hackbridge it is crucial to investigate the adoption status of roads surrounding a site. Failure to identify developments where adoption procedures have not been dealt with adequately can result in delays to Hackbridge commercial conveyancing transactions as well as present a risk to future intentions for the site. These searches are not carried out for residential conveyancing in Hackbridge.
I opted to have a survey completed on a property in Hackbridge before appointing solicitors. I have been advised that there is a flying freehold aspect to the property. My surveyor has said that some banks may refuse to give a loan on such a house.
It depends who your proposed lender is. Lloyds has different instructions for example to Nationwide. Should you wish to call us we can check with the relevant lender. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Hackbridge. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Hackbridge to see if the conveyancing will be more expensive.