Our son is in the process of securing a newly built flat in Morganstown with a mortgage from Nottingham. His solicitor has said that there is a delay in receiving the ‘Disclosure of Incentive Form’. This document is news to me - what is it and who needs sight of it?
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 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.
What does my ID and proof of funds have anything to do with my conveyancing in Morganstown? Why is this being asked of me?
Morganstown conveyancing solicitors as well as nationwide property lawyers throughout the UK have a duty under money laundering regulations to verify the identity of any client in order to ensure that clients are who they say they are.
Conveyancing clients will need to produce two forms of certified identification; proof of identity (typically a Passport or Driving Licence) and evidence of address (usually a Utility Bill less than 3 months old).
Confirmation of the origin of monies is also required in compliance with the money laundering laws as lawyers have a duty to ensure that the monies you are utilising to buy a property (whether it be the deposit for exchange or the total purchase amount if you are buying without a mortgage) has come from legitimate source (such as an inheritance) rather than the product of criminal behaviour.
Is there a search tool that I can utilise to investigate if the solicitor carrying out my conveyancing in Morganstown is on the bank’sconveyancing panel? I am looking to avoid the situation of having one lawyer for me and one for National Westminster Bank thus paying £192.00 in another set of legal bill.
Please do take advantage of the search tool on this web page. Please choose the lender and type ‘Morganstown’ or your preferred area and you will discover numerous solicitors offices in Morganstown or by proximity to you.
What can a local search tell me regarding the house I am buying in Morganstown?
Morganstown conveyancing often starts with the applying for local authority searches directly from your local Authority or through a personal search organisations for instance Xpress Legal The local search is essential in every Morganstown conveyancing purchase; as long as you don’t want any nasty surprises after you move into your new home. The search will provide data on, amongst other things, details on planning applications applicable to the property (whether granted or refused), building control history, any enforcement action, restrictions on permitted development, nearby road schemes, contaminated land and radon gas; in all a total of 13 subject headings.
Yesterday I discovered that there is a flying freehold issue on a property I have offered on two weeks back in what should have been a straight forward, chain free conveyancing. Morganstown is the location of the property. Can you shed any light on this issue?
Flying freeholds in Morganstown are not the norm but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Morganstown you must be sure that your lawyer goes through the deeds thoroughly. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Morganstown may determine that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold property.
In my capacity as executor for the estate of my grandfather I am selling a house in Neath but I am based in Morganstown. My solicitor (approximately 300 miles awayrequires that I execute a stat dec prior to completion. Could you suggest a conveyancing lawyer in Morganstown who can witness and place their company stamp on the document?
strictly speaking you are not likely to be required to have the documents witnessed by a conveyancing solicitor. Normally any notary public or qualified solicitor will suffice regardless of whether they are Morganstown based