My god-son is purchasing a new build apartment in Mexborough with a mortgage from TSB. His solicitor 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 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.
What does my ID and proof of funds have anything to do with my conveyancing in Mexborough? What am I being asked for?
To satisfy the Money Laundering Regulations any Mexborough conveyancing firm will require evidence of your identity in all conveyancing transactions. This is normally satisfied by provision of a passport and an original bank statement or utility account evidencing your correct address.
In accordance with Money Laundering Regulations, conveyancing solicitors are duty bound to investigate not just the identity of conveyancing clients but also the origin of the money that they receive in respect of any matter. Refusal to disclose this may lead to your solicitor cancelling their relationship with you, as clearly this will cause a conflict between the set Regulations and a refusal to disclose.
Your conveyancers will have an obligation to make a disclosure to the relevant authorities should they consider that any monies received by them may contravene the Anti-terror and anti-money-laundering rules.
Do I have to attend the offices of the solicitor to execute the mortgage deed? If so, I will instruct a firm who offer conveyancing in Mexborough so that I can attend their offices when needed.
Whereas this was necessary ten years ago, the vast majority banks no longer require their conveyancing panel lawyer to witness the borrowers signature. You will still be obliged to supply identification documents and there are still manifest advantages to using a local practitioner, in your case a conveyancing solicitor in Mexborough.
We are intent on selling our property in Mexborough and according to the buyers it appears that there is a possibility that the property was built on contaminated land. A high street Mexborough lawyer would know this is not the case. For the life of me I don't know why the buyers instructed a nationwide conveyancing outfit rather than a conveyancing solicitor in Mexborough. Having lived in Mexborough for 4 years we know that this is a non issue. Do we contact our local Authority to obtain confirmation that the buyers are looking for.
It sounds as though you may have a conveyancing solicitor currently acting for you. What do they say? You need to check with your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out life insurance to cover that same sickness)
I'm buying a new build house in Mexborough with a loan from Santander. The builders would not budge the price so I negotiated 6k of extras instead. The sale representative told me not reveal to my conveyancer about this extras as it will adversely affect my mortgage with Santander. Is this normal?.
All lenders require a Disclosure of Incentives Form from the developer of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
What are my options where I am not happy with the property lawyer who did my conveyancing in Mexborough?
We live in an imperfect world, and unfortunately every so often matters do not go as planned. Nevertheless there is recourse if you were unhappy with your conveyancing in Mexborough. This varies from trying to resolve matters directly with them, through to reporting a conveyancing practitioner to their regulator. If things still aren’t resolved you may consider getting in touch with the Legal Ombudsman.