Our grandson is purchasing a new build apartment in Redditch with a mortgage from Principality. His conveyancer 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 engaged in the transaction. Therefore, it will be provided to your son’s lawyer who should be on the Principality 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 Principality conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.
Do all mortgage companies provide you with an approved list of Redditch conveyancing solicitors? How do you know who is on the Leeds Building Society conveyancing panel?
Redditch conveyancing firms themselves provide us confirmation that they are on the Leeds Building Society conveyancing panel as opposed to being supplied with a list from Leeds Building Society directly.
We're in Redditch, FTBs buying with a mortgage (lender is Kent Reliance , and our lawyer is on the Kent Reliance conveyancing panel). How long should the conveyancing process take?
The fact that your lawyer is on the Kent Reliance conveyancing panel is a help. It would almost certainly delay matters if they were not. However, no lawyer should guarantee a timeframe for your conveyancing, due to third parties outside of your control such as delays caused by lenders,conveyancing search providers or by the other side’s solicitors. The time taken is often determined by the number of parties in a chain.
Forgive me if this question is silly but I am unexperienced as FTB of a ground floor flat in Redditch. Do I collect the keys to the premises on the completion date from my lawyer? If this is the case, I will appoint a local conveyancing solicitor in Redditch?
On the day of completion you do not need to attend the conveyancers office in Redditch. Conveyancing lawyers for you will arrange to send the purchase money to the vendor’s lawyers, and once they have received this, you should be able to pick up the keys from the property Agents and start moving into the property. This tends to happen between 1 and 3pm.
We had selected conveyancing lawyers locally in Redditch on the Nationwide solicitor approved list. They are now charging me a further amount for handling the Nationwide mortgage. Is this an additional conveyancing fee specified by Nationwide?
Provided it is contained in their Terms of Engagement or estimate then yes your property lawyer can charge a fee for this. The fee is not set by Nationwide but by your Redditch conveyancer. Plenty of firms on the Nationwide panel will levy ’dealing with mortgage’ fee but plenty of practices incorporate it on their overall fee.
Intending to buy a flat in Redditch. I have received an online quote from a licenced conveyancer, which states: "There will be no charge for dealing with the Building Society if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the Barclays conveyancing panel. I wanted to make sure it means there will be no additional fees for dealing with the mortgage.
They are simply saying that the cost for acting for the lender is included in the fee being quoted. It is worth you checking that the Redditch conveyancing practitioner is on the Barclays conveyancing panel.
How does conveyancing in Redditch differ for newly converted properties?
Most buyers of new build premises in Redditch approach us having been asked by the seller to sign contracts and commit to the purchase even before the house is constructed. This is because new home sellers in Redditch typically acquire the land, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct property lawyers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are used to new build conveyancing in Redditch or who has acted in the same development.
I have been sourcing a conveyancing lawyer in Redditch for my home move. Is there any facility to review a firm’s record with the legal regulator?
One may review documented Solicitor Regulator Association (SRA) determinations resulting from inquisitions from 2008 onwards. Go to Check a solicitor's record. To find information Pre 2008, or to check a firm's record, call 0870 606 2555, 08.00 - 18.00 any week day save for Tuesday when lines open at 9.30am. International callers, use +44 (0)121 329 6800. The regulator may monitor call for training purposes.