Our god-son is purchasing a new build apartment in Holyhead with a home loan from Coventry BS. His lawyer has said that there is a delay in receiving the ‘Disclosure of Incentive Form’. What is this document - I have never come across this before?
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 Coventry BS 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 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 happens if my lawyer’s firm is removed from the Barclays Solicitor panel ahead of completing my conveyancing in Holyhead?
The first thing to point out is that, this is a very rare occurrence. In most cases even where a law firm is removed off of a panel the lender would allow the completion to go ahead as the lender would appreciate the difficulties that they would place you in if you have to instruct a new solicitor days before completion. In a worst case scenario where the lender insists that you instruct a new firm then it is possible for a very good lawyer to expedite the conveyancing albeit that you may pay a significant premium for this. The analogous situation is where a buyer instructs a lawyer, exchanges contracts and the law firm is shut down by a regulator such as the SRA. Again, in this situation you can find lawyers who can troubleshoot their way to bring the conveyancing to a satisfactory conclusion - albeit at a cost.
I am planning to move house in January. Does my conveyancing solicitor call the removal company on the completion day. On a separate note, can you suggest a removal company in Holyhead. Conveyancing firm was found prior to coming across your site.
On the day of completion you can pick up the keys from the selling agent but this can only happen once the previous owners conveyancers confirm to the agent that they have the completion monies and the keys can be collected. After that you will need to advise the removal company that they can start moving you in. As a matter of policy we do not suggest a specific removal organisation but can assist you in finding a conveyancing in Holyhead or a solicitor with expertise in conveyancing in Holyhead.
It is not clear whether my mortgage offer requires a lease extension. I have telephoned my Holyhead bank branch on various occasions and was advised it wasn't a problem and they would lend. My Holyhead conveyancing solicitor - who is on the lender conveyancing panel- telephoned to say that they refuse to lend in accordance with their UK Finance Lenders’ Handbook minimum lease term requirements. I have no idea who is right.
Provided that the conveyancer is on the mortgage company approved list, she or he must comply with the Council of Mortgage Lenders’ Handbook conditions for the lender. Unless your lawyer obtains specific confirmation in writing that the mortgage company will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the mortgage company to contact your lawyer in writing confirming that they will accept the number of years remaining.
Having read lots of house buying guides, I note that they all recommend that you should get your house surveyed prior to buying it. When I asked my local Holyhead solicitor - who is on the Barclays conveyancing panel - on this she said they don't do this and I need to contract an independent surveyor. Is that normal?
Barclays will need an independent valuation of the property. Your lawyer will not arrange this. Usually Barclays will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey. You may wish to consider appointing your own Holyhead surveyor to carry out a survey or prepare a home buyers report on the property. It is up to you to satisfy yourself that the property is structurally sound before you buy it. If the survey or report reveals that building work is needed, you should tell your solicitor. You may wish to renegotiate with the seller.
I have been on the look out for a leasehold apartment up to £195,000 and found one close by in Holyhead I like with open areas and transport links nearby, the downside is that it only has 49 remaining years left on the lease. I can't really find anything else in Holyhead suitable, so just wondered if I would be making a mistake acquiring a short lease?
Should you require a home loan that many years will likely be problematic. Discount the price by the amount the lease extension will cost if not already taken into account. If the current owner has owned the property for a minimum of twenty four months you may ask them to commence the lease extension formalities and pass it to you. You can add 90 years to the existing lease and have £0 ground rent by law. You should consult your conveyancing lawyer about this.
We are 18 days into a leasehold purchase having been referred to conveyancers by the local agent to handle our conveyancing in Holyhead. I am am very dissatisfied with the quality of service. Could you you assist me in finding new conveyancers?
They would have to be very poor to suggest diss instructing them. Has the loan offer been sent? If so you will need to inform them of the replacement solicitor and ensure the mortgage documents are issued to the new lawyers. The conveyancer should be on the mortgage company approved list to avoid supplemental charges and delays. That should be your first question of the new solicitors. Our find a solicitor tool can help you find a lender approved lawyer for your conveyancing in Holyhead
Is it true that a Holyhead conveyancing solicitor has court proceedings brought against them by a client for not carrying out the appropriate conveyancing investigations?
We are not aware of such a Holyhead conveyancing claim but it has been reported that, a couple acquiring a house elsewhere in England successfully sued their solicitor as a consequence of development plans to construct a wind farm not being picked up in conveyancing searches.
If you are buying in Holyhead It is essential that your property lawyer purchase all Holyhead conveyancing searches required making sure that you have relevant and current information ahead of purchasing a property.