My nephew is purchasing a new build apartment in Ongar with a home loan from HSBC. His conveyancer has advised him of a delay in receiving 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 HSBC 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 HSBC 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 Ongar? What am I being asked for?
Anti-terror and anti-money-laundering laws require solicitors and licensed conveyancers to check the identity of the potential client they are dealing with before they can accept their conveyancing retainer. The Client Care letter that you need to sign will no doubt reaffirm this. Your lawyer also has obligations to obtain certain documents in accordance with the CML Lenders Handbook requirements last updated on 1st December 2014. Where you are unwilling to hand over ID verification documents, your solicitor can not take you on as a client.
It has been 4 months following my purchase conveyancing in Ongar concluded. I have checked the Land Registry website which shows that I paid £200,000 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.
How do I use your search facility to get a fee calculation from a conveyancing practitioner in Ongar on the authorised to act for my lender?
Step one is to pick a mortgage company such as HSBC Bank, Norwich and Peterborough Building Society or Nottingham Building Society then choose your preferred area e.g. Ongar. Conveyancing practices in Ongar and further afield should be shown.
My husband and I are FTB’s - had an offer accepted, yet the property agent told us that the vendor will only move forward if we instruct the agent's chosen conveyancers as they need a ‘quick sale’. We would rather use a local conveyancer who is accustomed to conveyancing in Ongar
It is improbable the owners are driving this. If they require ‘a quick sale', taking such a hostile approach to a genuine purchaser is going to damage their objectives. Contact the vendors directly and make the point that (a)you are keen to buy (b)you are excited to move forward, with finances in place © you do not need to sell (d) you intend to proceed fast (e)but you are going to instruct your preferred Ongar conveyancing firm - as opposed tothe ones that will earn the estate agent a commission or achieve conveyancing targets set by corporate headquarters.
Should I be worried if there is a problem with one of the searches for my conveyancing in Ongar?
On the whole, the majority of concerns exposed in Ongar conveyancing search responses can be addressed before completion or title insurance could possibly be put on cover. You need to remember that even though you intend on acquiring the property and may be willing to live with the search results, your building society or bank may not, and when all said and done they have the final say.