Our god-son is buying a new build apartment in Ventnor with a home loan from HSBC. His lawyer has advised him of a delay in receiving 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 HSBC 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 HSBC conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.
Is there a reason why leasehold purchase conveyancing in Ventnor costs more?
Ventnor leasehold conveyancing transactions usually involve additional investigations than freeholds including investigating the Lease, liaising with the Landlord such as serving applicable notices on the Landlord or managing agent, obtaining up-to-date service charge and management information, obtaining Landlord’s consents and reviewing management accounts and formation documents.
My apartment in Ventnor is up for sale and I have a purchaser. Does my solicitor need to be required to be on the Coventry BS conveyancing panel in order to deal with repayment of my mortgage?
Ordinarily, even if your lawyer is not on the Coventry BS conveyancing panel they can still act for you on your sale. It might be that the lender will not release the original deeds (if applicable and increasingly irrelevant) until after the mortgage is paid off. You should speak to your lawyer directly before you start the process though to ensure that there is no problem as lenders are changing their panel criteria fairly frequently currently.
This question may be naive but I am wet behind the ears as a 1st time purchaser of a garden flat in Ventnor. Do I pick up the keys to the premises on completion from my solicitor? If so, I will use a High Street conveyancing solicitor in Ventnor?
On the day of completion you will not be required to go to the conveyancers office in Ventnor. Your solicitors will transfer the completion advance to the owner’s conveyancers, and once they have received this, you will be able to pick up the keys from the property Agents and start moving into the property. Usually this happens early afternoon.
My wife and I have organised the release of further funds on our home loan from Kent Reliance as we wish to conduct alterations to our home in Ventnor. Are we obliged to select a local Ventnor solicitor on the Kent Reliance conveyancing panel to deal with the paperwork?
Kent Reliance do not ordinarily require a member of their approved list of lawyers to handle the formalities. If they do require any legal work then you would need to ensure that such a lawyer was on the Kent Reliance conveyancing panel.
I have paid off my mortgage with Barclays. I assume I don't need a Ventnor conveyancing practitioner on the Barclays panel to discharge the mortgage at the Land Registry. Please confirm.
If you have finished paying off your Barclays mortgage, they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the Barclays mortgage from the register. Barclays, and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:
- but are not moving to another property
- where Barclays has sent the Land Registry the discharge electronically, and
- Barclays has instructed the Land Registry to do so
How difficult is it to transfer to a new solicitor as I need to find a firm on the Nationwide Building Society conveyancing list. I instructed a local conveyancing solicitor in Ventnor five minutes from me but he is not accepted by Nationwide Building Society
It would be our pleasure to help you select a conveyancing solicitor in Ventnor on the Nationwide Building Society panel. Please note that the conveyancers that we work with do not pay us fee if you instruct them and are regulated by the SRA who oversee all conveyancing solicitors in Ventnor. In making use of the find a conveyancing solicitor tool on this site, you can compare and instruct different solicitors and conveyancers both nationally and in Ventnor.
Should I choose a Ventnor conveyancing lawyer who is local to the property I am purchasing? An old friend can handle the legal work however his firm is located 400kilometers away.
The benefit of a high street Ventnor conveyancing firm is that you can visit the firm to execute documents, hand in your identification documents and pester them where appropriate. Having local Ventnor know how is a plus. However it's more important to get someone that will pull out all the stops for you. If other friends have used your friend and the majority were content that should outweigh using an unfamiliar Ventnor conveyancing solicitor just because they are based in the area.