My god-son is purchasing a new build apartment in Bradford with a mortgage from Bank of Ireland. His solicitor 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 document 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 Bank of Ireland 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 Bank of Ireland conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.
We are purchasing a house and require a conveyancing solicitor in Bradford who is on the Yorkshire BS solicitor panel. Could you point me in the right direction as regards a firm?
Our service is limited to being a directory service for firms who wish to be listed as being on the approved conveyancing panel for Yorkshire BS . We don't recommend any particular firms conducting conveyancing in Bradford.
What is the difference between a licensed conveyancer and conveyancing solicitor in Bradford
There are many recorded licenced Conveyancers in Bradford and Solicitor firms in Bradford offering conveyancing We would stress that the two are regulated professionals specialising in the legal aspects of the home buying process. They may both also deal with other property legal work such as remortgage conveyancing, lease extensions and transfer of equity conveyancing.
Last month we had a mortgage agreed in principle with Principality. Bradford conveyancing practitioners were instructed. What is the average time that one could expect to receive a mortgage offer from Principality?
Some lenders take longer than others. Have Principality conducted the survey? Have you informed Principality as to your lawyers' details and checked that your lawyers are on the Principality conveyancing panel? It is not unusual for a mortgage offer to take a month to come through.
I currently have a mortgage with Lloyds for my property in Bradford. Conveyancing has been completed 12 months ago. Should I wish to rent out my property and do not currently have a buy-to-let mortgage do I need to remortgage to a BTL mortgage or inform Lloyds?
Your original mortgage agreement with Lloyds will provide that you need their approval in advance of letting out your property as this is likely to be a breach of Lloyds’s mortgage conditions. It may be that Lloyds will permit you to let out your former home without needing to switch to a buy-to-let mortgage but some lenders will add a surcharge to your mortgage rate to reflect the higher risk. You should contact Lloyds directly. It should not be necessary to do this via a Lloyds conveyancing panel solicitor.
I'm converting the mortgage on my primary home to a BTL loan with Chelsea Building Society and I will use the ballance of the raised equity as a deposit on another house. The location we are interested in is Bradford. Will your lawyers be able to act for both sets of lenders and link together the conveyances?
Do use our comparison tool on this site to check that the solicitors are approved by both mortgage companies. Having checked that they are your lawyer will be able to tie up the two conveyancing matters but you should have a chat with you conveyancer and communicate your desired outcome and needs.
Can you provide any top tips for leasehold conveyancing in Bradford with the purpose of expediting the sale process?
- A significant proportion of the frustration in leasehold conveyancing in Bradford can be avoided if you appoint lawyers the minute you market your property and ask them to put together the leasehold documentation which will be required by the buyers’ solicitors. If there is a history of any disputes with your landlord or managing agents it is essential that these are resolved before the property is put on the market. The purchasers and their solicitors will be nervous about purchasing a flat where there is an ongoing dispute. You may need to swallow your pride and discharge any arrears of service charge or settle the dispute prior to the buyers completing the purchase. It is therefore preferable to have any dispute settled prior to the contract papers being issued to the buyers’ solicitors. You are still duty bound to disclose details of the dispute to the purchasers, but it is better to reveal the dispute as historic rather than ongoing. If you are supposed to have a share in the freehold, you should ensure that you are holding the original share document. Organising a new share certificate can be a time consuming process and frustrates many a Bradford conveyancing deal. If a duplicate share certificate is necessary, do contact the company officers or managing agents (where applicable) for this sooner rather than later. In the event that you altered the property did you need the Landlord’s consent? Have you, for example installed wooden flooring? Most leases in Bradford state that internal structural changes or laying down wooden flooring calls for a licence from the Landlord acquiescing to such alterations. Should you fail to have the consents in place do not contact the landlord without checking with your lawyer in the first instance. Some Bradford leases require Licence to Assign from the landlord. If this is the case, you should notify your estate agents to make sure that the purchasers obtain financial (bank) and professional references. Any bank reference will need to confirm that the buyers are able to meet the yearly service charge and the actual amount of the service charge should be quoted in the bank’s letter. You will therefore need to provide your estate agents with the service charge figures so that they can pass this information on to the buyers or their lawyers.
Bradford Leasehold Conveyancing - Examples of Questions you should consider Prior to buying
The best form of lease structure is a share of the freehold. In this situation the tenants enjoy being in charge if their destiny and notwithstanding that a managing agent is often employed if it is bigger than a house conversion, the managing agent retained by the leaseholders. Are any of leasehold owners in arrears of their service charge payments?
My husband and I are purchasing a garden flat in Bradford. At the time of instructing our property lawyer, they told us that they were on all major UK bank panels. Our mortgage broker called today to say that they don't appear to be on the Principality approved list. Should that be true, what should we do? Should we just choose a different solicitor that is on their panel or should we cover the costs for separate representation, with Principality selecting their own approved conveyancer.
When purchasing a property with mortgage finance it is usual for the purchaser’s lawyers to also represent the purchaser's lender. In order to act for a bank or building society a property lawyer has to be on that lender's list of approved lawyers. An application has to be made by the conveyancing practitioner to the lender to become a member of the lender's panel and there are increasingly strict conditions which the solicitor has to meet. Some building societies now require their panel members to be part of the Law Society’s Conveyancing Quality Scheme. Your solicitor should call Principality to discover if they can apply for membership of their conveyancing panel, but if that is not viable they will instruct their own solicitors to act. You are not legally obliged to appoint a law firm on Principality's conveyancing panel and you may continue to use your own Bradford solicitors, in which case it will likely add costs, and it may delay matters as you are adding another conveyancing practitioner into the mix.