My son is purchasing a house that has just been built in Penge with a home loan from Kent Reliance. His solicitor has advised him of a delay in receiving the ‘Disclosure of Incentive Form’. Who needs to receive the form?
The document is intended to provide information to the main parties engaged in the purchase. Therefore, it will be provided to your son’s lawyer who should be on the Kent Reliance 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 Kent Reliance conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.
Having invested time reading consumer advice sites for a conveyancing lawyer in Penge, most comment that I must instruct a CQS assured lawyer. What is CQS?
The Conveyancing Quality Scheme (CQS) provides a recognised quality standard for residential conveyancing practices issued by the Law Society. Membership achievement establishes a level of credibility for member firms with stakeholders (regulators, lenders, insurers and consumers) based upon: * the integrity of the senior responsible officer and other key conveyancing staff * the firm's adherence to good practice management standards * adherence to prudent and efficient conveyancing procedures via the scheme protocol It includes many companies who execute conveyancing in Penge.
My wife and I have organised the release of further monies on our home loan from Principality as we want to conduct renovations to our property in Penge. Are we obliged to appoint a nearby Penge solicitor on the Principality conveyancing panel to handle the paperwork?
Principality don't usually instruct firms on their conveyancing panel to handle the formalities. If they do require any legal work then you would need to ensure that such a lawyer was on the Principality list.
I'm at the point of viewing houses in Penge and I am now considering a potential offer. Is it best to have my conveyancer on ‘stand by’? I will be getting a mortgage with Virgin Money.
It would be sensible 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 forward their contact information on to the EA. As you are taking out a mortgage with Virgin Money, ask your prospective lawyers if they are on the Virgin Money conveyancing panel otherwise they can't do the mortgage legal work.
It is not clear whether my mortgage offer obliges me to make sure the lease term for the flat is extended prior to the completion date. I have telephoned my Penge building society branch on numerous occasions and was told they are content with the situation and they would lend. My Penge conveyancing solicitor - who is on the bank conveyancing panel- called to say that they would not lend based on their published requirements. Who do I believe?
The conveyancing practitioner must follow the Council of Mortgage Lenders’ Handbook Part 2 conditions for your lender. Unless your lawyer obtains specific confirmation in writing that the mortgage company 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 remaining.
My wife and I purchased a semi-detached Edwardian property in Penge. Conveyancing solicitor acted for me and Coventry Building Society. I happened to do a free search for it on the Land Registry database and there are a couple of entries: the first freehold, the second leasehold with the exact same address. I thought I was buying a freehold how can I check?
You need to review the Freehold register you have again and check the Charges Register for mention of a lease. The best way to be sure that you are also the registered owner of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Penge and other areas of the country and poses no real issues for owners other than when they mortgage they have to account for both freehold and leasehold interests when dealing with buyers. You can also enquire as to the situation with your conveyancing solicitor who conducted the purchase.
Due to the guidance of my in-laws I had a survey completed on a house in Penge in advance of instructing lawyers. I have been advised that there is a flying freehold element to the property. My surveyor has said that some lenders tend not issue a loan on such a property.
It varies from the lender to lender. Bank of Scotland has different instructions for example to Halifax. Should you wish to call us we can check with the appropriate bank. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Penge. Conveyancing will be smoother if you use a solicitor in Penge especially if they are acquainted with such properties in Penge.
Should I be suspicious about 3rd parties that I am dealing with are suggesting an internet conveyancing firm as opposed to a High Street Penge conveyancing practice?
As is the case with many service providers, often referrals from family and friends can be worth their weight in gold. Yet there are lots of parties with a vested interest in a conveyancing matter; estate agents, financial adviser and mortgage companies might all put forward conveyancers to instruct. On occasion these lawyers might be known to one of the organisations as experts in their field, but sometimes there behind the scenes commercial relationship behind the endorsement. You have the discretion to appoint your preferred lawyer. Don't forget that most mortgage providers specify a panel list of lawyers you have to use for the lender related work in your house move.