My son is buying a newly built flat in Carisbrooke with a home loan from Co-operative. His conveyancer has said that there is a delay in completing the ‘Disclosure of Incentive Form’. Who needs to receive the form?
The form 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 Co-operative conveyancing panel as a standard part of the process, and to the surveyor 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 Co-operative conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.
As someone unfamiliar with conveyancing in Carisbrooke what is the number one tip you can give me for the ownership transfer in Carisbrooke
You may not hear this from too many lawyers but conveyancing in Carisbrooke or throughout Isle Of Wight is an adversarial experience. Put another way, when it comes to conveyancing there is an abundance of room for friction between you and others involved in the transaction. E.g., the vendor, selling agent and sometimes a bank. Appointing a lawyer for your conveyancing in Carisbrooke should not be taken lightly as your conveyancer is your adviser, and is the SOLE person in the legal process whose interest is to act in your legal interests and to keep you safe.
Sometimes a third party with a vested interest will attempt to sway you that you should follow their advice. For instance, the property agent may claim to be assisting by suggesting your solicitor is slow. Or your mortgage broker may try to convince you to do something that is contrary to your lawyers recommendation. You should always trust your lawyer above all other parties in the home moving process.
I am being told by my solicitor that absentee landlord insurance is required on my purchase. What is the level of cover for Carisbrooke conveyancing?
The right level of absentee landlord indemnity insurance depends on your lender. It would differ for example between Barclays and Leeds Building Society. Conveyancing practitioners as opposed to borrowers take out such policies.
Is it the case that all Carisbrooke solicitor practices on the UBS conveyancing panel are governed by the SRA?
As a firm of solicitors, in order to be on the UBS approved list of solicitors they would need to be governed by the SRA. The majority of lenders do permit licenced conveyancers on their panel in which case such practice would be governed by the Council of Licensed Conveyancers.
I am currently in the process of buying my council flat in Carisbrooke. I have a mortgage agreed with Nationwide. Conveyancing is new to me. Can I proceed without a solicitor easily? I think we can but we keep being told I should have one. Any advice?
It is not advisable to proceed with a house purchase without a solicitor. The council's solicitor are not acting for you. You need a solicitor for a number reasons. One of which is to verify what plans the Council have for repairs and refurbishment for the next five years. Many leaseholders have been stung for contributions of thousands of pounds. In any event, if you are getting a mortgage with Nationwide, you will need to appoint a solicitor on the Nationwide conveyancing panel.
We are downsizing from our house in Carisbrooke and the buyers lawyers are claiming that there is a possibility that the property was constructed on contaminated land. Any high street Carisbrooke conveyancer would know that there is no such problem. For the life of me I don't know why the buyers used a nationwide conveyancing firm rather than a conveyancing solicitor in Carisbrooke. Having lived in Carisbrooke for six years we know of no issue. Do we contact our local Authority to get confirmation need.
It sounds as though you may have a conveyancing lawyer already. What do they say? You must enquire of your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out health insurance to cover that same sickness)
Me and my brother have a semi-detached Edwardian house in Carisbrooke. Conveyancing solicitor represented me and National Westminster Bank. I happened to do a free search for it on the Land Registry database and there are a couple of entries: the first freehold, another for leasehold under the exact same property. I thought I was buying a freehold how can I check?
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 Carisbrooke and other areas of the country and poses no real issues for owners other than when they buy they have to account for both freehold and leasehold interests when dealing with purchasers. You can also question the position with your conveyancing practitioner who conducted the work.
I decided to have a survey carried out on a house in Carisbrooke before instructing solicitors. I have been informed that there is a flying freehold overhang to the property. My surveyor advised that some mortgage companies may refuse to issue a loan on such a property.
It varies from the lender to lender. HSBC has different instructions for example to Birmingham Midshires. Should you wish to call us we can check with the appropriate bank. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Carisbrooke. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Carisbrooke to see if the conveyancing costs will increase in light of this.