My grandson is about to exchange on a newly built flat in Little Ilford with a home loan from Nottingham. His solicitor has advised him of a delay in completing the ‘Disclosure of Incentive Form’. What is this document - I have never come across this before?
The document 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 Nottingham 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 Nottingham conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.
I have been referred to a conveyancing solicitor in Little Ilford. I I am struggling to find out if they are on the HSBC Bank conveyancing panel. Could you or the lender confirm if they are on the panel?
You should phone your solicitor and enquire if they are on the lender panel. Alternatively you can call HSBC Bank who may be able to assist.
four months have elapsed since my purchase conveyancing in Little Ilford took place. I have checked the Land Registry site which shows that I paid £150,000 when infact I paid £180,000. 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.
Due to the encouragement of my in-laws I had a survey completed on a property in Little Ilford ahead of instructing solicitors. I have been told that there is a flying freehold overhang to the house. The surveyor advised that some banks will not issue a loan on this type of premises.
It depends who your proposed lender is. HSBC has different instructions for example to Nationwide. Should you wish to telephone us we can check with the appropriate mortgage company. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Little Ilford. Conveyancing will be smoother if you use a solicitor in Little Ilford especially if they are familiar with such properties in Little Ilford.
How do I search for a Little Ilford solicitor on the Leeds Building Society conveyancing panel? I have wheels and am prepared to travel upto 25miles to meet the lawyer.
You can use the tool on this website. Please choose the lender and your location and you will see a number of Little Ilford conveyancing lawyers locally. We have listed some Little Ilford conveyancing firms towards the end of this page and you can contact them to check if they are on the Leeds Building Society approved list
When it comes to my conveyancing in Little Ilford should I be paying VAT on the following: (1) Land reg fee on purchase (2) Pre - completion search fee (3) SDLT E submission on purchase (4) Bank TT fee
(1) Land reg fee on purchase - No (2) Pre - completion search fees -No, (such conveyancing searches are HMLR ones and means £4 and possibly £2 bankruptcy per name on your mortgage) (3) SDLT E submission on your purchase - There is no VAT on Stamp Duty. However if the firm is charging a stamp duty e-submission fee as part of their services - some Little Ilford conveyancers do - that will incur VAT(4) Bank transfer fee - Yes it is for the solicitor's time in submitting the funds this way.