My son is buying a newly built flat in Bromley with a home loan from Nationwide. His solicitor has said that there is a delay in receiving 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 Nationwide 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 Nationwide conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.
As a FTB what is the most important piece of guidance you can give me concerning purchase conveyancing in Bromley?
Not many law firms or advisers will tell you this but conveyancing in Bromley or throughout England and Wales is often a confrontational process. In other words, when it comes to conveyancing there is an abundance of opportunity for conflict between you and other parties involved in the transaction. For instance, the vendor, estate agent and on occasion the mortgage company. Choosing a law firm for your conveyancing in Bromley should not be taken lightly as your conveyancer is your adviser, and is the SOLE party in the legal process whose role it is to act in your best interests and to protect you.
Every so often a potential adversary may try and persuade you that it is in your interests to do things their way. For example, the property agent may claim to be helping by claiming that your solicitor is wrong. Or your financial adviser may tell you to do take action that is against your conveyancers recommendation. You should always trust your lawyer above all other parties when it comes to the legal transfer of property.
I just acquired a house at auction in Bromley. Conveyancing is required. What is next?
Having legally committed yourself to purchase you now have to retain a conveyancing solicitor as a matter of urgency as you are faced with a pending deadline in which to complete the transaction. All auction property will ordinarily have an associated legal set of papers. This should include evidence of title and search results. Where you are dealing with leasehold premises the legal pack may include a copy of the lease, management information and a sellers leasehold information form and other conveyancing paperwork specific to leasehold premises. You should give this to your appointed conveyancing solicitor at the earliest opportunity. Do make sure that you have funds organised to complete on the date specified in the contract.
We have agreed to purchase a house in Bromley. One unusual aspect is that the roof has a solar panel. Solicitors conducting should look into this right? Will my lender Bank of Ireland be concerned?
As your lender is Bank of Ireland your lawyer must comply with the formal requirements contained in Part 2 of UK Finance Lenders’ Handbook for Bank of Ireland. The CML Handbook includes minimum conditions for solar panel roof-space leases, and conveyancing practitioners are required to report to Bank of Ireland where a lease fails to satisfy these requirements. The conditions relate to the installation of panels on properties nationwide and is not isolated to Bromley.
I have paid off my mortgage with Nottingham. I assume I don't need a Bromley property lawyer on the Nottingham panel to discharge the mortgage at the Land Registry. Am I right?
If you have finished paying off your Nottingham 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 Nottingham mortgage from the register. Nottingham, 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 Nottingham has sent the Land Registry the discharge electronically, and
- Nottingham has instructed the Land Registry to do so
My wife and I purchased a renovated Victorian house in Bromley. Conveyancing lawyer acted for me and Britannia. I happened to do a free search for it on the Land Registry database and there are a couple of entries: one for freehold, the second leasehold under the matching address. Is it worth asking Britannia to clarify?
You should assess the Freehold register you have again and check the Charges Register for mention of a lease. The best way to be sure that you are also the registered proprietor of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Bromley and other areas of the country and poses no real issues for owners other than when they sell they have to account for both freehold and leasehold interests when dealing with mortgage companies. You can also check the position with your conveyancing lawyer who conducted the purchase.
I am purchasing a new build house in Bromley benefiting from help to buy. The builders refused to budge the amount so I negotiated five thousand pounds worth of fixtures and fittings instead. The sale representative suggested that I not disclose to my solicitor about the deal as it would adversely affect my mortgage with the lender. Do I keep my lawyer in the dark?.
All lenders require a Disclosure of Incentives Form from the builder of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
I am Googling for Bromley online conveyancing estimates. Can I be confident that all the Bromley law firms that are identified on your site are on the bank conveyancing panel?
The law firms listed on our site have advised us that they are on the bank panel and agreed to advise us to take down their listing in the event of removal off of the lender panel. To date we have not been informed by either a lender or a member of the public that the data about a specific Bromley firm being on the lender conveyancing panel is incorrect.