My god-son is purchasing a house that has just been built in Tonbridge with a mortgage from Aldermore. 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 involved in the purchase. Therefore, it will be provided to your son’s lawyer who should be on the Aldermore 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 Aldermore conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.
When can the exchange of contracts happen for purchase conveyancing in Tonbridge and am I required to attend the lawyers branch?
Where you are round the corner to our conveyancing solicitors in Tonbridge you are welcome to come in to sign the paperwork. That being said, the law practices we recommend offer a national conveyancing service and provide as equally comprehensive and professional a job for you when dealing with you by post or email. The executing of the sale agreement is not the important part. Signing on the dotted line is necessary for the firm to exchange contracts at the appropriate time, which is ordinarily shortly after signing. The procedure is is usually a five minute process, although where a lengthy "chain" is involved, since the process requires the relevant party's solicitor (not necessarily a conveyancing solicitor in Tonbridge)to be in the office at the appropriate time.
Do the Building Society Association intend to launch a searchable register to list firms on the Melton Mowbray Building Society conveyancing panel for example in Tonbridge?
We have not been informed any intention on the part of the BSA to develop such a tool.
How does conveyancing in Tonbridge differ for new build properties?
Most buyers of new build or newly converted property in Tonbridge come to us having been asked by the seller to exchange contracts and commit to the purchase even before the premises is finished. This is because house builders in Tonbridge tend to purchase the real estate, 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 accustomed to new build conveyancing in Tonbridge or who has acted in the same development.
Is it best to instruct a Tonbridge conveyancing lawyer who is local to the property I am buying? We have a good friend who can carry out the conveyancing but they are based 300miles drive away.
The benefit of a high street Tonbridge conveyancing firm is that you can visit the firm to sign paperwork, hand in your identification documents and pester them where appropriate. They will also have local intelligence which is a plus. That being said it's more important to get someone that will do a good and efficient job. If other friends have instructed your friend and they were happy that must outweigh using an unfamiliar Tonbridge conveyancing solicitor solely due to them being based in the area.
My husband and I are acquiring a ground floor flat in Tonbridge. At the time of instructing our property lawyer, they told us that they were on all mainstream lender panels. The financial adviser emailed yesterday to say that they are not on the HSBC approved list. If it turns out to be true, what should we do? Should we just choose a new conveyancer that is on their approved list or should we pay for dual representation, with HSBC appointing their own approved lawyer.
Where you are acquiring a property with the assistance of a mortgage it is standard for the purchaser’s lawyers to also represent the mortgage company. In order to act for a bank or building society a solicitor has to be on that lender's list of approved lawyers. An application has to be made by the solicitor to the lender to become a member of the lender's panel and there are increasingly strict criteria which the conveyancing practitioner has to fulfill. Some lenders now require their panel members to be part of the Law Society’s Conveyancing Quality Scheme. Your lawyer should contact HSBC to find out if they can apply for membership of their conveyancing panel, but if that is not viable they will instruct their own lawyers to represent them. You don't have to instruct a firm on HSBC's conveyancing panel as you are at liberty to use your preferred Tonbridge lawyers, in which case your legal fees may increase, and it will likely delay the transaction as you have another set of people involved.