My nephew is in the process of securing a house that has just been built in Nelson with a home loan from Virgin Money. His conveyancer 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 Virgin Money 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 Virgin Money conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.
Is there a reason why leasehold purchase conveyancing in Nelson is more expensive?
Nelson leasehold properties involve far more paperwork than a freehold purchase, and therefore takes more time to examine and advise upon.Conveyancing will involve the lease having to be checked which is usually a lengthy document, queries raised to ensure that the covenants and conditions have been observed. If it is a flat there will be a management company in existence and the accounts of this will need to be checked and enquiries raised to ensure it is operating efficiently and that all monies due have been paid by the Seller to the company and if not ensuring that money is paid up to date or the appropriate undertakings obtained.
Is it necessary during the course of the conveyancing process to pop into the offices of the solicitor to sign the mortgage deed? If so, I will instruct a firm who offer conveyancing in Nelson so that I can pop in to their offices if required.
Whereas this was necessary twenty years ago, the vast majority lenders no longer need their conveyancing panel solicitor to witness the borrowers signature. You will still be obliged to provide ID documents and there are still distinct benefits to choosing a local solicitor, in your situation a conveyancing solicitor in Nelson.
When it comes to mortgage companies such as Clydesdale, do Nelson lawyers have to pay a fee to be on the conveyancing panel?
We are not aware of any lender fees to register on their panel, although some do charge an administration fee to deal with the processing of the conveyancing panel application.
I am expecting a DIP from Aldermore this week so we know how much we could potentially offer as otherwise we only have online calculators to go by (which aren't taking into account credit checks etc). Do Aldermore recommend any Nelson solicitors on the Aldermore conveyancing panel, or is it better to find our own lawyer?
You will need to appoint Nelson solicitors independently although you'll need to choose one on the Aldermore conveyancing panel. The solicitor represents both you and Aldermore through the process.
I'm in the process of viewing flats in Nelson and I am now considering a potential offer. Should I already have a conveyancing practitioner in place at this stage? I am planning to take a home loan with Kent Reliance.
It would be wise to commence your search sooner rather than later. After you have chosen your lawyer and once your offer is accepted you can instruct them to work for you and pass their contact information on to the estate agent. Given that you are taking out a mortgage with Kent Reliance, make sure you remember to check that your lawyer is on the Kent Reliance conveyancing panel.
I used Action Conveyancing a few years ago for my conveyancing in Nelson. Now, I need my files but the law firm has closed. What do I do?
You should call the Solicitors Regulatory Authority (SRA) to assist in tracing your conveyancing files. They can be contacted on please contact on 0870 606 2555. Alternatively, you should use their online form to make an enquiry. You will need to provide the SRA with as much information as possible to assist their search, including the name and address in Nelson of the conveyancing firm of solicitors you previously used, the name of conveyancing solicitor with whom you had dealings, and the date on which you last had dealings with the firm.
Due to the guidance of my in-laws I had a survey completed on a house in Nelson in advance of instructing solicitors. I have been advised that there is a flying freehold element to the house. My surveyor has said that some banks tend refuse to grant a mortgage on a flying freehold house.
It depends who your proposed lender is. HSBC has different instructions for example to Birmingham Midshires. Should you wish to telephone us we can look into this further with the appropriate mortgage company. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Nelson. Conveyancing may be slightly more expensive based on your lender's requirements.