Our grandson is about to exchange on a new build apartment in London with a mortgage from Santander. His solicitor has advised him of a delay in completing 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 Santander conveyancing panel as a standard part of the process, and to the surveyor 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 Santander conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.
How up to date is your search tool for London conveyancing solicitors on the Co-operative conveyancing panel? Do Co-operative send you an updated list?
London conveyancing firms themselves provide us confirmation that they are on the Co-operative conveyancing panel as opposed to being supplied with a list from Co-operative directly.
We wanted to use a conveyancing solicitor in London for our home move. Our financial adviser informed us that our bank HSBC Bank won't deal with them. Why is this not regarded as unfair competition?
A lender will direct that a panel conveyancer act for it. You would be liable to meet the cost of this. Try using our directory service to find a solicitor to carry conveyancing in London on the HSBC Bank member panel.
Have purchased a a terraced house in London , how long should it take for the Land Registry to register my title? My London conveyancing solicitor works at snail pace, so I want to check that my ownership is registered.
As far as conveyancing in London registration is no quicker or slower than anywhere else in England and Wales. Rather than based on location, timescales can vary depending on who lodges the application, whether there are errors and whether the Land registry must send notices to any third parties. At present roughly 80% of such applications are fully dealt with within 12 days but occasionally there can be longer hold-ups. Historically registration takes place after the buyer has moved in to the premises therefore an expedited registration is not typically an essential issue but where it is urgent that the the registration takes place urgently then you or your lawyers can contact the land registry and explain the circumstances.
Due to the input of my in-laws I had a survey completed on a property in London ahead of retaining conveyancers. I have been advised that there is a flying freehold aspect to the property. My surveyor advised that some mortgage companies tend not grant a loan on a flying freehold house.
It varies from the lender to lender. HSBC has different instructions for example to Birmingham Midshires. Should you wish to telephone us we can look into this further via the relevant lender. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in London. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in London to see if the conveyancing costs will increase in light of this.
My partner and I hope to purchase our 1st house in London. Conveyancing solicitor has been selected. The broker pointed out that a survey is not needed as the property was only constructed 16 yrs ago.
You would be best advised to commission a Home Buyer's Report. Given the premises was built over a decade ago the property will not come with a warranty, so you would be well advised not to take a risk. For a property that age with no signs of problems a Home Buyer's report could be sufficient. The report should highlight any obvious issues and recommend additional investigation where relevant. If there are any signs of problems obtain a comprehensive Building Survey from the beginning.