Our grandson is buying a house that has just been built in Harmondsworth with a mortgage from Leeds Building Society. His lawyer has said that there is a delay in completing the ‘Disclosure of Incentive Form’. What is this document - I have never come across this before?
The form is intended to provide information to the main parties involved in the transaction. 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 valuer 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.
Will my conveyancing lawyers need to check that the building insurance when buying a house in Harmondsworth. My lender is Bank of Ireland
Bank of Ireland have specific requirements as set out in the UK Finance Lenders’ Handbook. As of 30/9/2020, the requirements read as follows :
I am the only recipient of my late mum's estate and I have everything in my name now, including the house in Harmondsworth. The Harmondsworth property was put into my name in August. I plan to dispose of the property. I understand that there is a Mortgage Lenders 6 month 'rule', which means that my proprietorship may be treated the same way as if I'd bought the property in August. Do I have to wait 6 months to sell?
The CML handbook instructs solicitors to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." By the strict wording you could be caught by that. How practical a view lenders take of it, depend on the bank as this obligation is primarily there to pick up on the purchase and immediately sell or the quick reselling of properties.
I have paid off my mortgage with Kent Reliance. I assume I don't need a Harmondsworth conveyancing practitioner on the Kent Reliance panel to discharge the mortgage at the Land Registry. Please confirm.
If you have finished paying off your Kent Reliance 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 Kent Reliance mortgage from the register. Kent Reliance, 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 Kent Reliance has sent the Land Registry the discharge electronically, and
- Kent Reliance has instructed the Land Registry to do so
Nationwide have agreed my home loan in principle, my bid on a house in Harmondsworth has been accepted, what are the next steps?
Your estate agent will wish to know who your solicitors are (be sure the lawyers are on the bank’s panel). Contact Nationwide or the financial adviser and complete any outstanding documentation. Nationwide will sellect a valuer who will get in touch with the estate agent or owners to book a slot for the valuation to happen. Once conducted (assuming no problems) it takes about a fortnight to get a mortgage offer. Nationwide will issue the offer to you and your conveyancers. The transaction will then take it’s course according the nature and complexity of the conveyancing in Harmondsworth.
Various online forums that I have frequented warn that are the number one cause of delay in Harmondsworth conveyancing transactions. Is this right?
The Council of Property Search Organisations (CoPSO) has noted the conclusions of a review by MoveWithUs that conveyancing searches do not figure amongst the common causes of delays in the conveyancing process. Searches are unlikely to feature in any delay in conveyancing in Harmondsworth.
Despite weeks of looking the Title Certificate and documents to our home can not be found. The conveyancers who handled the conveyancing in Harmondsworth 5 years ago are no longer around. What do I do?
These day there are copies made of almost everything, and your conveyancer should know precisely where to find all the relevant documentation so you may buy or dispose of your property without a hitch. If duplicates are not available, your conveyancer can arrange cover in the form of insurance or indemnities against possible claims on your property.
I need to retain a conveyancing solicitor for my conveyancing in Harmondsworth. I happened to land on a site which seems to have the ideal offering If there is a chance to get all the legals done via email that would be ideal. Should I be wary? What are the potential pitfalls?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?