My nephew is about to exchange on a house that has just been built in Small Heath with a home loan from Nationwide. His lawyer 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 involved in the purchase. 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 valuer 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 Nationwide conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.
We see that you have a search directory identifying solicitors on the Bank of Ireland conveyancing panel. Do companies pay you a commission if I retain them for our conveyancing in Small Heath?
We are a listing service only for law firms wishing to communicate if they are on the Bank of Ireland conveyancing panel or other lender panels. We do not charge referral fees to any conveyancer that you subsequently appoint for your conveyancing in Small Heath.
we are a couple who wish to acquire a newly converted flat in Small Heath with a loan from Accord Mortgages Ltd.We would like to retain our Small Heath conveyancing practitioner but Accord Mortgages Ltd advised that her practice is not listed on their "panel". It seems we have no choice but to instruct a Accord Mortgages Ltd panel solicitor or keep our local solicitor and pay for one of their panel ones to represent them. We feel as though this is unjust; Can we not simply insist that Accord Mortgages Ltd use our lawyer?
Unfortunately,no. The mortgage offered to you is subject to its terms and conditions, a common one being that solicitors will be on the Accord Mortgages Ltd solicitor panel. Until recently, most banks had large numbers of law firms on their panels: a borrower could find one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. A further alternative is for your solicitors to apply to be on the conveyancing panel for Accord Mortgages Ltd
Have purchased a a terraced house in Small Heath , What is the estimated time for the Land Registry to deal with the formalities evidencing the transfer to my name? My Small Heath conveyancing solicitor has been painfully slow, so I want to check that my name is recorded.
There is nothing unique about conveyancing in Small Heath registration formalities. Rather than based on location, timescales can vary depending on the party submitting the application, whether it is in order and whether the Land registry have to notify any interested parties. At present roughly three quarters of such applications are fully addressed within two weeks but some can be subject to longer delays. Historically registration occurs after the buyer has moved in to the premises therefore an expedited registration is not typically top priority yet where it is urgent that the the registration takes place urgently then you or your solicitor should speak with the land registry and explain the circumstances.
Am I right to be suspicious by estate agents that I am dealing with are encouraging me to use a web based conveyancing firm rather than a High Street Small Heath conveyancing company?
As is the case with many service providers, often referrals from connections can be most helpful. Yet there are many parties with a keen interest in a conveyancing transaction; estate agents, mortgage brokers and banks might all put forward solicitors to instruct. On occasion the solicitors might be known to one of the organisations as one of the best in their field, but sometimes there may be a financial incentive behind the endorsement. You have the discretion to choose your own lawyer. Don't forget that some mortgage providers specify a panel list of solicitors you are obliged to use for the lender related work in your house move.
My husband and I accepted an offer on a Small Heath apartment we inherited seven years ago in 2009. I have over 12 years conveyancing know-how and, although retired, intend to conduct the conveyancing. The buyer's conveyancer has informed me that their mortgage company will not allow us to do our own conveyancing insisting the funds to be transferred to a solicitor's bank account.
Mortgage requirements to conveyancers from all mainstream lenders state that If the seller does not have legal representation the borrower's lawyers should check whether the mortgage company needs to be informed so that a decision can be made as to whether they are willing to move forward.