My son is about to exchange on a house that has just been built in Stockbridge with a home loan from Santander. His lawyer has said that there is a delay in completing the ‘Disclosure of Incentive Form’. This document is news to me - what is it and who needs sight of it?
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 Santander conveyancing panel as a standard part of the process, and to the valuer 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 Santander conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.
Finally the sale completed on my house in Stockbridge last July but the buyer keeps Skype messaging me to say his lawyer needs to hear from mylawyer. What should my lawyer have done now that I have sold?
Following your disposal your lawyer should send the transfer documentation and all supplemental paperwork to the purchaser's solicitors. Depending on the transaction, your lawyer should also evidence that the home loan has been paid off to the purchasers lawyers. There are no post completion tasks unique to conveyancing in Stockbridge.
After reviewing moneysavingexpert.com for a cheap solicitor in Stockbridge, most post that I should use a CQS assured lawyer. Can you explain what CQS is?
Stockbridge Conveyancing Quality Scheme practices have achieved certification under the Law Society's Scheme (CQS) CQS was brought about to establish evidence of quality standards in the in the legal transfer of properties. CQS enables house movers to recognise solicitor firms that provide a quality residential conveyancing. Stockbridge is one of the many areas in England and Wales in which CQS have offices. The scheme obliges law firms to undergo a strict assessment, compulsory training, self-certification, spot checks and yearly assessments in order to maintain CQS status. It is open only to members of the Law Society who meet the demanding standards set by the scheme and has the support of the Legal Ombudsman.
We had selected conveyancers locally in Stockbridge on the Coventry BS solicitor approved list. They are now charging me a supplemental sum for handling the Coventry BS mortgage. Is this an additional conveyancing fee specified by Coventry BS?
As unfair as it may appear, as long as it’s in their Terms and Conditions or estimate then yes your conveyancing practitioner can charge a fee for this. The charge is not dictated by Coventry BS but by your Stockbridge conveyancer. Numerous firms on the Coventry BS panel will levy ’dealing with mortgage’ fee and others do not.
I am currently in the process of buying my council flat in Stockbridge. I have a mortgage agreed with Coventry BS. Conveyancing is not something I have any knowledge of. Can I proceed without a solicitor easily? I think we can but we keep being told I should use one. Any advice?
It is not advisable to proceed with a house purchase without a solicitor. The council's solicitor are not acting for you. You need a solicitor for a number reasons. One of which is to verify what plans the Council have for repairs and refurbishment for the next five years. Many leaseholders have been stung for contributions of thousands of pounds. In any event, if you are getting a mortgage with Coventry BS, you will need to appoint a solicitor on the Coventry BS conveyancing panel.
HSBC have agreed my mortgage in principle, my bid on a property in Stockbridge has been accepted, now what?
The property agent will need to know who your solicitors are (be sure the solicitors are on the bank’s approved list). Contact HSBC or the financial adviser and complete any appropriate documentation. HSBC will appoint a valuer who will get in contact with the estate agent or owners to schedule an appointment. Once conducted (assuming no problems) it takes on average ten days to get a mortgage offer. HSBC will issue the offer to you and your conveyancers. The legal work will then take it’s course according the nature and complexity of the conveyancing in Stockbridge.
I've recently found out that there is a flying freehold issue on a property I have offered on two weeks back in what was supposed to be a quick, chain free conveyancing. Stockbridge is where the house is located. Can you offer any guidance?
Flying freeholds in Stockbridge are unusual but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Stockbridge 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 Stockbridge may ascertain 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 residence.
Can you please explain what my options are if my Stockbridge conveyancing searches shows detrimental results?
On the whole, the majority of concerns disclosed in Stockbridge conveyancing search results can be addressed before completion or title insurance could possibly be put on cover. You should note that regardless of the fact that you are purchasing the property and may be willing to live with the search results, your lender may not, and when all said and done they have the final say.