My nephew is about to exchange on a house that has just been built in Norton with a home loan from Nationwide. His solicitor has said that there is a delay in completing 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 transaction. Therefore, it will be provided to your son’s lawyer who should be on the Nationwide 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 Nationwide conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.
What happens if my solicitor is suspended from the Principality Solicitor panel ahead of completing my conveyancing in Norton?
The first thing to point out is that, this is very unlikely to happen. In most cases even where a law firm is removed off of a panel the lender would allow the completion to go ahead as the lender would appreciate the difficulties that they would place you in if you have to instruct a new solicitor days before completion. In a worst case scenario where the lender insists that you instruct a new firm then it is possible for a very good lawyer to expedite the conveyancing albeit that you may pay a significant premium for this. The analogous situation is where a buyer instructs a lawyer, exchanges contracts and the law firm is shut down by a regulator such as the SRA. Again, in this situation you can find lawyers who can troubleshoot their way to bring the conveyancing to a satisfactory conclusion - albeit for a fee.
We had appointed conveyancers located in Norton on the UBS solicitor approved list. They have just invoiced me a separate charge for dealing with the UBS mortgage. Is this a supplemental conveyancing fee set by UBS?
As unfair as it may seem, as long as it’s in their Terms of Engagement or estimate then yes your lawyer is entitled to levy a fee for this. The charge is not dictated by UBS but by your Norton solicitor. Plenty of firms on the UBS panel will charge an ‘acting for lender’ fee but some practices incorporate it on their overall fee.
Last month we had a mortgage agreed in principle with Principality. Norton conveyancing solicitors were appointed. How long does it take for Principality to issue the offer to the conveyancing practitioner?
There is no definitive answer here. Have Principality done the valuation? Have you advised Principality as to your lawyers' details and checked that your lawyers are on the Principality conveyancing panel? It is not unusual for a mortgage offer to take a month to come through.
After much negotiation I have agreed a price on a house in Norton. My financial adviser recommended their conveyancers. I paid an on account payment of £200. Soon after, the solicitor called me to say that they were not on the HSBC conveyancing panel. Am I right in thinking that I should be due a refund?
You should be able to recover this from the law firm if they were not on the HSBC panel. They should have asked at the outset which lender you were obtaining a mortgage with. An important lesson to readers of this site is to check that the lawyers are on the appropriate lender panel.
2 months have elapsed following my purchase conveyancing in Norton concluded. I have checked the Land Registry site which shows that I paid £200,000 when infact I paid £160,000. 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 residence 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 am buying a new build flat in Norton. Conveyancing is necessary evil at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build conveyancing.
Set out below are examples of a few leasehold new build questions that you should expect your new-build leasehold conveyancing in Norton
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The Landlord must covenant to assume the management if the Management Company goes into liquidation or otherwise defaults in running the management scheme. Please supply a car parking plan. Forfeiture - bankruptcy or liquidation must not apply under this provision. If there are lifts in the building, please confirm that the owners of flats on the ground and basement floors will not be required to contribute towards the cost of maintenance and renewal.
My husband and I are 18 days into a leasehold purchase having been referred to solicitors by the high street agent to execute conveyancing in Norton. We are not happy. Can you you assist me in finding new lawyers?
A lawyer would have to be very poor to suggest changing them. Has the loan offer been generated? In the event that it has you need to make them aware of the replacement conveyancer and have the loan are re-issued. The solicitor ideally needs to be on the mortgage company panel to avoid supplemental fees and frustration. That should be your first question of the new lawyers. The find a solicitor tool will help you find a lender approved solicitor for your conveyancing in Norton