My son-in-law is in the process of securing a house that has just been built in Longridge with a home loan from HSBC. His solicitor 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 purchase. Therefore, it will be provided to your son’s lawyer who should be on the HSBC conveyancing panel as a standard part of the process, and to the valuer 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 HSBC conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.
It is 10 years ago since I acquired my home in Longridge. Conveyancing lawyers have just been retained on the sale but I am unable to locate my deeds. Is this a problem?
Don’t worry too much. Firstly there is a chance that the deeds will be kept by the mortgage company or they may be archived with the lawyers who acted in your purchase. Secondly in all probability the property will be recorded at the land registry and you will be able to establish that you are the registered owner by your conveyancing solicitors procuring up to date copy of the land registers. Nearly all conveyancing in Longridge involves registered property but in the rare situation where your home is unregistered it adds to the complexity but is not insurmountable.
My fiance and I are buying a purpose built apartment in Longridge with a mortgage from Bank of Ireland.We like our Longridge conveyancing lawyer but Bank of Ireland says he's not on their approved list of member firms. We have to appoint a Bank of Ireland panel solicitor or retain our preferred solicitor and pay for one of their panel ones to act for them. We feel as though this is unjust; Can we not simply insist that Bank of Ireland use our lawyer?
No, not really. The loan offered to you is subject to its various provisions, a common one being that lawyers needs to be on the Bank of Ireland approved list. Until recently, most lenders had large numbers of law firms on their panels: a borrower could choose one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. A further alternative is for your solicitors to apply to be on the conveyancing panel for Bank of Ireland
My wife and I are purchasing a property in Longridge. I might seem paranoid but how we can trust a conveyancer? At some point we have to send funds into their account. What protection do we have from them run away with our deposit?
Be assured that all money in a Solicitors client account is 100% safe, and even if your Solicitor ran off with it, the Law Society would reimburse you fully.
After much negotiation I have agreed a price on an apartment in Longridge. My mortgage broker recommended their conveyancers. I paid an upfront payment of £150. Shortly after, the solicitor contacted me embarrassingly acknowledging that they were not on the HSBC 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 HSBC 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 am selling my flat. I had a double glazing fitted in November 2006, but did not receive a FENSA certificate or Building Regulation Certificate. My buyer's mortgage company, Barclays are being difficult. The Longridge solicitor who is on the Barclays conveyancing panel is happy to accept ‘lack of building regulation’ insurance but Barclays are insisting on a building regulation certificate. Why do Barclays have a conveyancing panel if they don't accept advice from them?
It is probably the case that Barclays have referred the matter to their valuer. The reason why Barclays may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing was correctly and safely installed. The indemnity insurance merely protects against enforcement action which is very unlikely anyway.
Various internet forums that I have come across warn that are the main cause of obstruction in Longridge house deals. Is there any truth in this?
The Council of Property Search Organisations (CoPSO) published determinations of a review by MoveWithUs that conveyancing searches do not feature within the top 10 causes of delays in the conveyancing process. Searches are unlikely to feature in any holding up conveyancing in Longridge.
Should I instruct a Longridge conveyancing lawyer who is local to the property I am hoping to buy? An old friend can perform the conveyancing but her office is 300miles drive away.
The benefit of a high street Longridge conveyancing firm is that you can visit the firm to sign documents, deliver your ID and apply pressure on them if necessary. Having local Longridge know how is a plus. However it's more important to get someone that will do a good and efficient job. If other friends have instructed your friend and in the main were impressed that must surpass using an unknown Longridge conveyancing lawyer just because they are Longridge based.