Our son is in the process of securing a new build apartment in Limehouse with a mortgage from Virgin Money. His lawyer 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 involved in the purchase. Therefore, it will be provided to your son’s lawyer who should be on the Virgin Money conveyancing panel as a standard part of the process, and to the valuer 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 Virgin Money conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.
We are expecting a mortgage offer soon. The bank mentioned the mortgage came with free conveyancing. Is the implication that I have to appoint their panel solicitor as I would prefer to appoint a local conveyancing solicitor in Limehouse?
Do check but the chances are that appoint one of their panel conveyancers if you want the "fee-free" deal. Call the bank and determine if they allow a cash alternative. In the past a few lenders offered a £250 cashback as a further option in which case that money can go towards the cost for your conveyancing solicitor near Limehouse.
Is it the case that all Limehouse CQS (Conveyancing Quality Scheme) solicitors are on the Barclays conveyancing panel?
A selection of lenders now use the accreditation scheme as the kick off point for Panel membership such as HSBC and Santander. CQS accreditation however gives no guarantee to lender panel acceptance. That being said,the CML have indicated that it is likely to become a pre-requisite for solicitor practices wishing to join their approved list of conveyancing solicitors.
We are getting the release of further monies on our mortgage from Bank of Ireland as we intend to carry out alterations to our house in Limehouse. Do we need to appoint a bricks and mortar Limehouse solicitor on the Bank of Ireland conveyancing panel to handle the paperwork?
Bank of Ireland don't usually require firms on their approved list of lawyers to handle the formalities. If they do require any legal work then you would need to ensure that such a lawyer was on the Bank of Ireland conveyancing panel.
I am buying a property in Limehouse. One unusual aspect is that the roof has a solar panel. Solicitors conducting should look into this right? Will my lender Santander be concerned?
Given that you are obtaining a mortgage with Santander your lawyer must comply with the formal requirements set out in Section two of UK Finance Lenders’ Handbook for Santander. The Council of Mortgage Lenders’ Handbook contains minimum specifications for solar panel roof-space leases, and solicitors are required to report to Santander where a lease fails to comply with these provisions. The provisions relate to the installation of panels on properties countrywide and is not isolated to Limehouse.
A friend advised me that if I am purchasing in Limehouse I should ask my conveyancer to perform a Neighbourhood, Planning and Local Amenity Search. Can you explain what the purpose of this search is?
A search of this type is usually quoted for as part of the standard Limehouse conveyancing searches. It is not a small report of more than thirty pages, listing and setting out important information about Limehouse around the property and the people living there. It includes an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the local Housing Market, Council Tax Banding, the type of People living in the area, the dominant type of Housing, the Average House Prices, Crime details, Limehouse Education with maps and statistics, Local Amenities and other useful information concerning Limehouse.
Despite weeks of looking the Title Certificate and documents to our house are lost. The lawyers who dealt with the conveyancing in Limehouse 5 years ago no longer exist. What are my options?
These day there are copies made of almost everything, and your conveyancer should know exactly where to find all the relevant documentation so you can purchase or sell your house without a hitch. If duplicates are not available, your conveyancer may be able to arrange cover in the form of insurance or indemnities against possible claims on the premises.
Am I better off to use a Limehouse conveyancing lawyer based in the vicinity that I am purchasing? I have an old university friend who can execute the legal formalities however her office is over three hundred kilometers away.
The primary upside of using a local Limehouse conveyancing firm is that you can pop in to sign documents, present your ID and apply pressure on them where appropriate. Having local Limehouse know how is a plus. That being said it's more important to get someone that will pull out all the stops for you. If other friends have instructed your friend and in the main were impressed that should trump using an unknown Limehouse conveyancing solicitor solely due to them being round the corner.