Our son is in the process of securing a new build apartment in Atherton with a home loan from HSBC. His lawyer has said that there is 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.
I purchased a freehold property in Atherton yet charged rent, why is this and what is this?
It’s unusual for properties in Atherton and has limited impact for conveyancing in Atherton but some freehold properties in England (particularly common in North West England) pay an annual sum known as a Chief Rent or a Rentcharge to a third party who has no other legal interest in the land.
Rentcharge payments are usually between £2.00 and £5.00 per year. Rentcharges have existed for many centuries, but the Rent Charge Act 1977 barred the establishment of new rentcharges post 1977.
Previous rentcharges can now be extinguished by making a lump sum payment under the Act. Any rentcharges that are still in existence after 2037 will be extinguished.
What happens if my solicitor is suspended from the Aldermore Solicitor panel ahead of completing my conveyancing in Atherton?
The first thing to point out is that, this is very unlikely to happen. In most cases even where a law firm is removed off of a panel the lender would allow the completion to go ahead as the lender would appreciate the difficulties that they would place you in if you have to instruct a new solicitor days before completion. In a worst case scenario where the lender insists that you instruct a new firm then it is possible for a very good lawyer to expedite the conveyancing albeit that you may pay a significant premium for this. The analogous situation is where a buyer instructs a lawyer, exchanges contracts and the law firm is shut down by a regulator such as the SRA. Again, in this situation you can find lawyers who can troubleshoot their way to bring the conveyancing to a satisfactory conclusion - albeit for a fee.
I require expedited conveyancing in Atherton as I have an ultimatum to sign on the dotted line within 4 weeks. Thankfully I do not need a mortgage. Is it possible to decline from having conveyancing searches to save money and time?
As you are not taking a mortgage you have the choice not to have searches carried out although no lawyer would recommend that you don't. With plenty of history conveyancing in Atherton the following are instances of issues that can appear and adversely affect future saleability: Refused Planning Applications, Overdue Charges, Outstanding Grants, Unadopted Roads,...
How easy is it to use the search tool to find a conveyancing lawyer in Atherton on the approved list for my mortgage?
Step one is to pick a bank such as HSBC Bank, Coventry Building Society or Bank of Ireland then specify your location such as Atherton. Conveyancing practices in Atherton and beyond will then be listed.
Am I best advised to use a Atherton conveyancing practitioner based in the area that I am buying? I have an old university friend who can handle the conveyancing however they are based over three hundred kilometers away.
The benefit of a local Atherton conveyancing firm is that you can drop in to execute documents, present your ID and pester them where appropriate. They will also have local insight which is a plus. However nothing is more important than finding someone that will pull out all the stops for you. If if people you trust used your friend and in the main were impressed that must trump using an unknown Atherton conveyancing solicitor solely due to them being based in the area.