My son-in-law is buying a new build apartment in Knutsford with a home loan from Santander. His conveyancer has advised him of a delay in completing the ‘Disclosure of Incentive Form’. Who needs to receive the form?
The document 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 Santander 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 Santander 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 Knutsford? What am I being asked for?
In order to comply with Money Laundering Regulations any Knutsford conveyancing firm will require evidence of your identity in all conveyancing transactions. This is normally satisfied by provision of a passport and an original bank statement or utility account showing your correct address.
In accordance with Money Laundering Regulations, conveyancing solicitors are obliged by law to ascertain not simply the ID of conveyancing clients but also the source of fund that they receive in respect of any matter. Refusal to disclose this may result in your solicitor ending their retainer with you, as clearly this will cause a conflict between the set Regulations and a refusal to disclose.
Your property lawyers will have an obligation to notify the appropriate authorities should they consider that any monies received by them may contravene the Anti-terror and anti-money-laundering rules.
Does a directory service exist listing Coventry BS panel conveyancers in Knutsford on the UK Finance Lenders’ Handbook Website?
No. There is no such tool on the CML or Building Society Association websites. Very few mortgage companies make their panel listings available over the internet. If you are seeking to appoint a Knutsford conveyancing practitioner on the Coventry BS please use our facility.
It is not clear whether my bank requires a lease extension. I have called my Knutsford building society branch on a couple of occasions and was reassured it wasn't a problem and they would lend. My Knutsford conveyancing solicitor - who is on the bank conveyancing panel- called and was told they would not lend based on their UK Finance Lenders’ Handbook minimum lease term requirements. Who do I believe?
The lawyer must follow the CML Handbook section two conditions for your bank. Unless your lawyer obtains specific confirmation in writing that the bank 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 left on the lease.
I recently had an offer accepted on a house in Knutsford. My financial adviser pressured me to appoint their solicitor. I paid an advanced payment of £200. Shortly after, the conveyancing practitioner called me to say that they were not on the Aldermore conveyancing panel. Am I right in thinking that I should be due a refund?
You should be able to recover this from the law firm if they were not on the Aldermore panel. They should have asked at the outset which lender you were obtaining a mortgage with. An important lesson to readers of this site is to check that the lawyers are on the appropriate lender panel.
I completed on my apartment on 1 July and my personal details are still not registered. Should I be concerned? My conveyancing solicitor in Knutsford said it would be dealt with in less than a month. Are transfers in Knutsford uniquely lengthy to register?
There is nothing unique when it comes to conveyancing in Knutsford registration formalities. As opposed to being determined by geographic area, timeframes can differ depending on who lodges the application, whether it is in order and whether the Land registry need to notify any interested persons or bodies. As of today in the region of three quarters of submission are fully dealt with in less than three weeks but occasionally there can be protracted delays. Historically registration occurs after the new owner has moved in to the property therefore 'speed' is not usually primary concern yet where it is urgent that the the registration takes place urgently then you or your conveyancer must communicate with the Registry to express the reasoning for the application to be prioritised.
I am looking for a flat up to £245,000 and found one near me in Knutsford I like with amenity areas and transport links nearby, however it only has 52 years unexpired on the lease. I can't really find anything else in Knutsford in this price bracket, so just wondered if I would be making a mistake acquiring a lease with such few years left?
Should you require a mortgage the remaining unexpired lease term may be an issue. Discount the offer by the anticipated lease extension will cost if it has not already been discounted. If the existing proprietor has owned the property for at least 2 years you could request that they start the process of the extension and pass it to you. You can add 90 years to the existing lease with a zero ground rent applied. You should speak to your conveyancing lawyer regarding this.
What is the best way of identifying a value for money conveyancing in Knutsford?
First ask the people you trust who they used in the past and if they were happy with the service. Option 2 is to search the web for conveyancing in Knutsford. Call two or three from the list and ask them to send you their conveyancing fees and speak to the lawyer who will conduct your conveyancing before you make your choice. Third is to use this site to help you find the right lawyers taking into account your unique factors including location,speed, complexity and who your intended mortgage company is.Do not be fooled by lowest cost conveyancing solicitors in Knutsford