Our god-son is buying a newly built flat in Kentish Town with a mortgage from Aldermore. His lawyer has advised him of a delay in receiving the ‘Disclosure of Incentive Form’. This document is news to me - what is it and who needs sight of it?
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 Aldermore 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 Aldermore conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.
My property lawyer in Kentish Town has never been on on the Santander Approved Panel. Is it possible for me to retain my family solicitor even though they are excluded from the Santander panel of approved conveyancing solicitors?
The limited options open to you here include:
- Carry on with your preferred Kentish Town solicitors but Santander will need to retain a solicitor on their list of acceptable firms. This will result in additional total conveyancing charges as well as result in frustration.
- Get an alternative solicitor to act in the conveyancing, not forgetting to check they are Convince your solicitor to use their best endeavours to join the Santander conveyancing panel
Are all Kentish Town Conveyancing Quality Solicitors on the Barclays conveyancing panel?
Some major lenders now make use of CQS as the kick off point for Panel membership such as HSBC and Santander. The Law Society’s CQS membership however is no guarantee to lender panel acceptance. That being said,the Council of Mortgage Lenders have indicated that it is likely to become a pre-requisite for solicitor practices wishing to remain on their approved list of firms.
I have paid off my mortgage with Bank of Ireland. I assume I don't need a Kentish Town conveyancer on the Bank of Ireland panel to remove the mortgage at the Land Registry. Please confirm.
If you have finished paying off your Bank of Ireland 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 Bank of Ireland mortgage from the register. Bank of Ireland, 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 Bank of Ireland has sent the Land Registry the discharge electronically, and
- Bank of Ireland has instructed the Land Registry to do so
Barclays have agreed my mortgage in principle, my offer on a house in Kentish Town has been accepted, what are the next steps?
Your estate agent will need to know who your solicitors are (ensure that the conveyancers are on the lender’s panel). Contact Barclays or your broker and finish off any outstanding documentation. Barclays will sellect a valuer who will get in touch with the estate agent or vendor to arrange an appointment. Once carried out (assuming no problems) it takes about ten days for the mortgage offer to be issued. Barclays will send the offer to you and your conveyancers. The transaction will then take it’s course according the nature and complexity of the conveyancing in Kentish Town.
My partner and I are intent on selling our house in Kentish Town and according to the buyers it appears that there is a risk of it being built on contaminated land. A high street Kentish Town conveyancer would know this is not the case. For the life of me I don't know why the purchasers used an internet conveyancing outfit rather than a conveyancing solicitor in Kentish Town. Having lived in Kentish Town for 4 years we know that this is a non issue. Should we contact our local Authority to seek confirmation need.
It sounds as though you may have a conveyancing solicitor currently acting for you. What do they say? You need to 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 life insurance to cover that same ailment)
I have todaydiscovered that Wolstenholmes have closed. They carried out my conveyancing in Kentish Town for a purchase of a freehold house 12 months ago. How can I be sure that my home is registered correctly in the name of the previous owner?
The quickest way to check if the property is registered to you, you can carry out a search of the land registry (£3.00). You can either do this yourself or ask a law firm to do this for you. If you are not registered you can seek help from one of a number of Kentish Town conveyancing specialists.
I have been on the look out for a leasehold apartment up to £235,500 and identified one near me in Kentish Town I like with a park and station in the vicinity, however it's only got 49 years on the lease. I can't really find anything else in Kentish Town in this price bracket, so just wondered if I would be making a grave error acquiring a short lease?
If you require a mortgage that many years will likely be a potential deal breaker. Reduce the price by the expected lease extension will cost if not already taken into account. If the existing owner has owned the property for a minimum of 2 years you may ask them to start the process of the extension and then assign it to you. You can add 90 years to the current lease term and have £0 ground rent by law. You should consult your conveyancing lawyer concerning this.