Our son-in-law is buying a house that has just been built in Prestbury with a home loan from Bank of Ireland. His solicitor has said that there is a delay in receiving the ‘Disclosure of Incentive Form’. This document is news to me - what is it and who needs sight of it?
The form 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 Bank of Ireland conveyancing panel as a standard part of the process, and to the valuer 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 Bank of Ireland conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.
What is the first thing I need to know about purchase conveyancing in Prestbury?
Not many law firms shout this from the rooftops but conveyancing in Prestbury and elsewhere in Cheshire is often a confrontational experience. In other words, when it comes to conveyancing there exists an abundance of opportunity for confrontation between you and others involved in the ownership transfer. E.g., the seller, selling agent and sometimes your bank. Choosing a lawyer for your conveyancing in Prestbury is a critical decision as your conveyancer is your adviser, and is the ONE person in the process whose responsibility is to protect your legal interests and to protect you.
There is a distinct ongoing adversarial element to conveyancing- someone must be at fault for the process being so protracted. We recommend that you your first instinct should be to trust your solicitor above the other players when it comes to the legal assignment of property.
I am thinking of refinancing my property in Prestbury, does my lawyer have to be on the Lloyds Solicitor panel?
In theory, you could use a solicitor that is not on the Lloyds conveyancing panel, but Lloyds would require one of their panel solicitors to be instructed to act in their interests, and you'd have to pay for this - so most people instruct a panel solicitor. It's also easier, as otherwise you'd have to deal with two solicitors for the same transaction.
We had chosen solicitors based in Prestbury on the Bank of Ireland solicitor approved list. They have just billed me a further amount for the legal aspects of the Bank of Ireland mortgage. Is this a supplemental conveyancing fee set by Bank of Ireland?
Unfortunately, so long as it is in their Terms of Engagement or estimate then yes your lawyer may charge a fee for this. This charge is not dictated by Bank of Ireland but by your Prestbury solicitor. Plenty of firms on the Bank of Ireland panel will levy ’dealing with mortgage’ fee and others do not.
I am buying a property in Prestbury. A rare aspect is that the roof has a solar panel. Virgin Money have issued a mortgage offer so presumably this is not a concern to them. Why is my solicitor raising questions about the panel?
Given that your lender is Virgin Money your lawyer must follow the formal instructions set out in Section two of UK Finance Lenders’ Handbook for Virgin Money. The Council of Mortgage Lenders’ Handbook stipulates minimum provisions for solar panel roof-space leases, and conveyancing practitioners are required to report to Virgin Money where a lease does not satisfy these provisions. The conditions relate to the installation of panels on properties nationwide and is not isolated to Prestbury.
I am expecting a AIP from Aldermore this week so we can work out what to offer on a property we like as otherwise we only have online calculators to go by (which aren't taking into account credit checks etc). Do Aldermore recommend any Prestbury solicitors on the Aldermore conveyancing panel, or is it better to find our own lawyer?
You will need to appoint Prestbury solicitors independently although you'll need to choose one on the Aldermore conveyancing panel. The solicitor represents both you and Aldermore through the process.
The deeds to my property can not be found. The lawyers who dealt with the conveyancing in Prestbury 4 years ago have long since closed. What are my options?
These day there are duplicates made of almost everything, and your solicitor should know precisely where to locate all the suitable paperwork so you can buy or dispose of your house without a hitch. Where copies can’t be found, your solicitor may be able to arrange cover in the form of insurance or indemnities against possible claims on the property.
I need to instruct a conveyancing solicitor for freehold conveyancing in Prestbury. I've stumble across a web site which looks to be the perfect solution If there is a chance to get all this stuff completed via phone that would be preferable. Do I need to be concerned? What are the potential pitfalls?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?