Our god-son is in the process of securing a new build apartment in Shinfield and Arborfield with a home loan from Leeds Building Society. His lawyer has advised him of a delay in receiving the ‘Disclosure of Incentive Form’. Who needs to receive the form?
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 Leeds Building Society 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 Leeds Building Society conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.
We are purchasing a end of terrace house in Shinfield and Arborfield. The intention is to an extension at the rear at the property.Will the conveyancing process involve enquiries to ascertain if these works are permitted?
Your solicitor should check the deeds as conveyancing in Shinfield and Arborfield can on occasion identify restrictions in the title documents which restrict categories of changes or need the consent of a 3rd party. Many works need local authority planning permissions and approval under the building regulations. Some areas are designated conservation areas and special planning restrictions apply which often prevent or impact extensions. It would be prudent to check these things with a surveyor prior to committing yourself to a purchase.
Is it the case that all Shinfield and Arborfield CQS (Conveyancing Quality Scheme) solicitors are on the HSBC conveyancing panel?
It is true that some banks and building societies now use the accreditation scheme as the kick off point for Panel approval such as HSBC and Santander. The Law Society’s CQS membership however is no guarantee to lender panel acceptance. Nevertheless,the CML have indicated that it is likely to become a pre-requisite for firms wishing to join their approved list of firms.
My fiancee and I are at the point of looking at apartments in Shinfield and Arborfield and I am about to put in an offer. Is it wise to have a solicitor on ‘stand by’? I am planning to take a home loan with HSBC.
You should start obtaining conveyancing estimates from solicitors ASAP. After you have chosen your lawyer and once your offer is accepted you can instruct them to work for you and forward their details on to the EA. Given that you are seeking a mortgage with HSBC, ask your prospective lawyers if they are on the HSBC conveyancing panel otherwise they can't do the mortgage legal work.
Should our lawyer be raising enquiries concerning flooding during the conveyancing in Shinfield and Arborfield.
Flooding is a growing risk for lawyers conducting conveyancing in Shinfield and Arborfield. Some people will acquire a property in Shinfield and Arborfield, fully expectant that at some time, it may suffer from flooding. However, leaving to one side the physical damage, if a house is at risk of flooding, it may be difficult to obtain a mortgage, satisfactory insurance cover, or dispose of the property. There are steps that can be taken during the course of a house purchase to forewarn the purchaser.
Solicitors are not qualified to impart advice on flood risk, but there are a number of checks that may be carried out by the buyer or by their lawyers which will figure out the risks in Shinfield and Arborfield. The conventional set of information given to a buyer’s conveyancer (where the solicitors are adopting what is known as the Conveyancing Protocol) incorporates a standard question of the owner to find out whether the property has suffered from flooding. In the event that flooding has previously occurred and is not revealed by the vendor, then a purchaser could bring a compensation claim as a result of such an inaccurate answer. A purchaser’s conveyancers will also order an environmental report. This will indicate if there is any known flood risk. If so, more detailed investigations should be made.
It has been 3 months following my purchase conveyancing in Shinfield and Arborfield completed. I have checked the Land Registry site which shows that I paid £175,000 when infact I paid £215,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the premises from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
Yesterday I discovered that there is a flying freehold issue on a property I put an offer in two weeks back in what should have been a quick, no chain conveyancing. Shinfield and Arborfield is the location of the property. Is there any guidance you can impart?
Flying freeholds in Shinfield and Arborfield are unusual but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Shinfield and Arborfield you would need to get your solicitor to go through the deeds very carefully. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Shinfield and Arborfield may ascertain that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold residence.
Am I better off to go with a Shinfield and Arborfield conveyancing solicitor in close proximity to the house I am purchasing? I have an old university friend who can handle the legal formalities but they are based 400miles away.
The primary upside of using a local Shinfield and Arborfield conveyancing firm is that you can visit the firm to execute paperwork, present your identification documents and pester them if necessary. Having local Shinfield and Arborfield know how is a bonus. That being said it's more important to get someone that will do a good and efficient job. If you know people who used your friend and they were impressed that must outweigh using an unfamiliar Shinfield and Arborfield conveyancing lawyer just because they are round the corner.