Our grandson is in the process of securing a new build apartment in Baguley with a home loan from Leeds Building Society. 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 engaged in the purchase. Therefore, it will be provided to your son’s lawyer who should be on the Leeds Building Society conveyancing panel as a standard part of the process, and to the surveyor 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 Leeds Building Society conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.
I am the registered owner of a freehold residence in Baguley but nevertheless charged rent, why is this and what is this?
It’s unusual for properties in Baguley and has limited impact for conveyancing in Baguley 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 generation of fresh rentcharges post 1977.
Old rentcharges can now be redeemed by making a one off payment under the Act. Any rentcharges that are still in existence in 2037 will be dispensed with completely.
The Baguley conveyancing lawyers that just started acting on my house acquisition in Baguley have suddenly closed. I only went with them because I had to have a solicitor on the Co-operative conveyancing panel and my preferred Baguley lawyer was not. I sent them a cheque for £250 in advance. What are my options?
Assuming that you have an Estate Agent in the equation then let them know immediately so that they advise the vendors that there may be a slight delay due to reasons beyond your control. Most sellers would be sympathetic and urge their lawyer to send a new set of papers to your new solicitors. You should appoint new lawyers that are on the Co-operative conveyancing panel and notify the lender. If you have paid over any money, it will hopefully be held by the SRA as money in an intervened firm's bank accounts is transferred to the SRA. Then, the SRA or the intervention agent looks at the intervened firm's accounts to work out who the money belongs to. To claim your money you will need to contact the SRA. If the SRA cannot return money you are owed from the firm's bank accounts, or if they can only return part of the money, you can apply to the Compensation Fund for a grant. Your new solicitors should be in a position to help.
I'm refinancing my current house to a buy to let mortgage with Clydesdale and intend to use the remaining equity as a deposit on a second property. The location we are looking at is Baguley. Will your lawyers be able to act for both sets of lenders and tie in the two deals?
Do use our search tool on this site to ensure that the conveyancers are on the relevant lender panels. Having checked that they are the lawyer will be able to tie up the two conveyancing matters but you should have a chat with you solicitor and specify your expectations and requirements.
I need to instruct a conveyancing practitioner in Baguley for my house move. Can I see a solicitor's complaints history with the profession’s regulator?
Anyone can find presented Solicitor Regulator Association (SRA) decisions resulting from investigations started on or after Jan 2008. Visit Check a solicitor's record. For details about the period before 1 January 2008, or to check a solicitors record, telephone 0870 606 2555, 08.00 - 18.00 any week day save for Tuesday when lines open at 9.30am. For non-uk callers, dial +44 (0)121 329 6800. The SRA may monitor call for training reasons.
Me and my wife have agreed a price on a Baguley flat we inherited 8 years ago in 2010. I have over ten years conveyancing knowledge and, now retired, see no reason not to undertake the legal work. The buyer's lawyer has informed me that their building society will not allow us to do our own conveyancing as they require the funds to be passed via a solicitor's bank account.
Lending instructions to conveyancers from all CML members state that If the vendor is not legally represented the purchaser’s lawyers should check whether the mortgage company needs to be notified so that a decision can be made as to whether or not they are willing to proceed.