Our son is in the process of securing a new build apartment in Burnage with a mortgage from Coventry BS. His lawyer has advised him of a delay in receiving the ‘Disclosure of Incentive Form’. Who needs to receive the form?
The document is intended to provide information to the main parties engaged in the transaction. Therefore, it will be provided to your son’s lawyer who should be on the Coventry BS 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 Coventry BS conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.
What does my ID and proof of funds have anything to do with my conveyancing in Burnage? Why is this being asked of me?
It is indeed that case that these requests have nothing to do with conveyancing in Burnage. Nowadays you will not be able to proceed with any conveyancing process if you have not handing over evidence of your identity. Ordinarily this takes the form of a either your passport or driving licence as well as a utility bill. Please note that if you are supplying your driving licence as proof of identification it must be both the paper section and photo card part, one is not sufficient without the other.
Proof of your source of funds is necessary under Money Laundering Regulations. Don’t be offended when you are asked to produce this as your lawyer will need to have this information on file. Your Burnage conveyancing lawyer will require evidence of proof of funds before they are able to accept any funds from you into their client account and they should also ask further questions regarding the source of monies.
Do the Building Society Association intend to launch a online directory to list law firms on the Earl Shilton BS conveyancing panel for example in Burnage?
We would not expect to be advised of any plans on the part of the BSA to develop such a register.
I have been on the look out for a leasehold apartment up to £235,500 and found one round the corner in Burnage I like with open areas and transport links in the vicinity, however it only has 52 years unexpired on the lease. I can't really find anything else in Burnage suitable, so just wondered if I would be making a mistake acquiring a short lease?
If you need a home loan the remaining unexpired lease term will be problematic. Reduce the price by the anticipated lease extension will cost if not already taken into account. If the existing proprietor has owned the property for at least 2 years you can request that they commence the lease extension formalities and then assign it to you. You can add 90 years to the current lease and have £0 ground rent by law. You should speak to your conveyancing solicitor about this matter.
I am 3 weeks into a leasehold purchase having been referred to a firm by the selling agent to execute conveyancing in Burnage. I am am extremely disappointed with the level of service. Could you you assist me in finding new solicitors?
A solicitor would need to be really poor in order to consider replacing them. Has your mortgage been sent? In the event that it has you need to make them aware of the replacement lawyer and get the mortgage documents are re-sent. The solicitor ideally needs to be on the banks panel to avoid added charges and frustration. That should be your first question of the new lawyers. The search tool can assist you in finding a lender approved lawyer for your conveyancing in Burnage
The property lawyers undertaking our conveyancing in Burnage has sent papers to review that show the land is unregistered with epitome documents. Is it not the case that all property in Burnage are registered?
It is rare for premises in Burnage to be unregistered. An 'epitome' is basically a dossier of photocopies of documents affecting an unregistered title. Many Burnage conveyancing solicitors should be able to handle such matters but where uncertainty exists the conventional advice presently is for the seller’s conveyancer to register the title first and thereafter deal with the transfer to the buyer - this can though naturally cause a significant delay.