Our god-son is about to exchange on a new build apartment in Wallasey with a home loan from Clydesdale. His solicitor has said that there is a delay in completing the ‘Disclosure of Incentive Form’. Who needs to receive the form?
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 Clydesdale conveyancing panel as a standard part of the process, and to the surveyor 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 Clydesdale conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.
In what way does my ID and proof of funds have anything to do with my conveyancing in Wallasey? Is this really warranted?
To satisfy the Money Laundering Regulations any Wallasey conveyancing firm will require proof of identity in all conveyancing transactions. This is normally satisfied by provision of a passport and an original bank statement or utility bill evidencing your correct address.
Under Money Laundering Regulations, conveyancing solicitors are duty bound to investigate not just the identity of conveyancing clients but also the origin of the money that they receive in respect of any matter. An unwillingness to disclose this will result in your solicitor cancelling their retainer with you, as clearly this will cause a conflict between the set Regulations and a refusal to disclose.
Your conveyancers are duty bound to notify the relevant authorities should they consider that any amounts received by them may contravene the Money Laundering Regulations.
I have been referred to a conveyancing solicitor in Wallasey. I need to find out whether they are accepted on the Barclays conveyancing panel. Could you help?
The first thing to do is e-mail your lawyer and enquire whether they are on the lender panel. Otherwise please get in touch with Barclays who may be able to help.
is it true that all Wallasey solicitors on the Co-operative conveyancing panel are governed by the SRA?
As solicitors, in order to be on the Co-operative conveyancing panel they would need to be governed by the SRA. The majority of lenders do allow licenced conveyancers on their panel in which case such practice would be regulated by the Council of Licensed Conveyancers.
Two weeks ago we had a mortgage agreed in principle with Principality. Wallasey conveyancing practitioners are appointed. How long does it take for Principality to issue the offer to the property lawyer?
Some lenders take longer than others. Have Principality done the valuation? Have you advised Principality as to your lawyers' details and checked that your lawyers are on the Principality conveyancing panel? Sometimes it can take as long as six weeks for a mortgage offer to be issued.
I have today made my last payment due on my mortgage with Nationwide. I assume I don't need a Wallasey property lawyer on the Nationwide panel to discharge the mortgage at the Land Registry. Am I right?
If you have finished paying off your Nationwide 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 Nationwide mortgage from the register. Nationwide, 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 Nationwide has sent the Land Registry the discharge electronically, and
- Nationwide has instructed the Land Registry to do so
Given that I am about to spend £400,000 on a terraced house in Wallasey I wish to talk to a solicitor about mytransaction prior to instructing the firm. Can this be arranged?
We could not agree more - we would be happy to talk to you we do not take any clients on without you speaking to the lawyer due to be doing your conveyancing in Wallasey.There is no ‘factory style conveyancing’ - every client is an important person, not a file reference. The law firms that we put you in touch with believe that the figure you are quoted for residential conveyancing in Wallasey should be the figure that you end up paying.
My step-father has urged me to use his conveyancers in Wallasey. Should I use them?
No doubt the best way to select a conveyancing lawyer is to seek referrals from friends or family who have actually used the firm you're are thinking of instructing.