Our grandson is purchasing a newly built flat in Hackney with a home loan from TSB. His solicitor has advised him of a delay in receiving the ‘Disclosure of Incentive Form’. Who needs to receive the form?
The document 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 TSB 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 TSB conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.
When scouring consumer advice sites for a conveyancing lawyer in Hackney, many say that I should look for a CQS kitemarked solicitor. Can you explain what CQS is?
Hackney Conveyancing Quality Scheme law firms have been granted certification under the Law Society's Scheme (CQS) CQS was established to promote high standards in the in the legal transfer of properties. CQS helps buyers and sellers to recognise practices who provide a quality residential conveyancing. Hackney is one of the many areas in England and Wales in which CQS are based. The conveyancing scheme requires practices to undergo a strict assessment, compulsory training, self-certification, spot checks and yearly assessments in order to maintain CQS status. It is open only to members of the Law Society who meet the demanding standards set by the scheme and has the support of the Association of British Insurers.
My wife and I have arranged a further advance on our home loan from Aldermore as we wish to carry out improvements to our house in Hackney. Do we need to choose a bricks and mortar Hackney solicitor on the Aldermore conveyancing panel to deal with the legals?
Aldermore don't usually require a member of their conveyancing panel to deal with the formalities. If they do require any legal work then you would need to ensure that such a lawyer was on the Aldermore list.
Two weeks ago we had a mortgage agreed in principle with Virgin Money. Hackney conveyancing solicitors have been appointed. How long does it take for Virgin Money to issue the offer to the conveyancer?
Some lenders take longer than others. Have Virgin Money completed the survey? Have you informed Virgin Money as to your lawyers' details and checked that your lawyers are on the Virgin Money conveyancing panel? Sometimes it can take as long as six weeks for a mortgage offer to be issued.
I can not fathom if my mortgage offer obliges me to make sure the lease term for the flat is extended prior to the completion date. I have telephoned my Hackney bank branch on numerous occasions and was advised it wasn't an issue and they will lend. My Hackney conveyancing solicitor - who is on the mortgage company conveyancing panel- telephoned and was told they refuse to lend based on their published requirements. Who do I believe?
Provided that the property lawyer is on the mortgage company panel, she or he must adhere to the CML Handbook specifications for the lender. Unless your lawyer obtains specific confirmation in writing that the bank will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the mortgage company to contact your lawyer in writing confirming that they will accept the number of years remaining.
It has been 4 months since my purchase conveyancing in Hackney took place. I have checked the Land Registry website which shows that I paid £150,000 when infact I paid £215,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the premises from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
I decided to have a survey done on a house in Hackney prior to instructing lawyers. I have been advised that there is a flying freehold element to the house. The surveyor has said that some banks will not give a mortgage on such a premises.
It depends who your proposed lender is. Lloyds has different requirements from Nationwide. If you contact us we can investigate further via the relevant mortgage company. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Hackney. Conveyancing will be smoother if you use a solicitor in Hackney especially if they are acquainted with such properties in Hackney.
I am downsizing from my property. My previous solicitors closed down. It would be helpful to have a recommendation of a conveyancing firm. I happen to live in Hackney if that makes things easier.
Do use our search tool to help you choose a solicitor for your conveyancing in Hackney. We have connected thousands of home buyers and sellers with lender approved solicitors to ensure that the legalities of their house move goes with a minimum of fuss.