My son-in-law is about to exchange on a newly built flat in Wolverhampton with a mortgage from TSB. His solicitor has advised him of a delay in completing 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 transaction. Therefore, it will be provided to your son’s lawyer who should be on the TSB 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 TSB conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.
Do lenders provide you with an approved list of Wolverhampton conveyancing solicitors? How do you know who is on the Bank of Ireland conveyancing panel?
Wolverhampton conveyancing firms themselves provide us confirmation that they are on the Bank of Ireland conveyancing panel as opposed to being supplied with a list from Bank of Ireland directly.
I am considering applying for a Santander mortgage for purchase of a newly converted (under development) in Wolverhampton with 60% loan to value. Is it compulsory to choose a solicitor on the conveyancing panel for Santander ?
In theory, you could use a solicitor that is not on the Santander conveyancing panel, but Santander 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 conveyancing matter.
We are purchasing a property and the solicitor has referenced Chancel Repair to which the property may be liable because it falls into the area of such a church. She has mentioned insurance. Is this really required for conveyancing in Wolverhampton
Unless a prior purchase of the house took place post 12 October 2013 you may take it that conveyancing practitioners conducting conveyancing in Wolverhampton to continue to suggest a chancel search and or insurance against a claim.
Are there restrictive covenants that are commonly picked up as part of conveyancing in Wolverhampton?
Restrictive covenants can be picked up when reviewing land registry title as part of the legal transfer of property in Wolverhampton. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
I am purchasing a maisonette with all finances in place. My lawyer has been supplied with with two separate proof of photographic ID, bank statement, numerous utility bills. Now he needs a copy from a probate lawyer advising that the funds are legitimate and that it has come from inheritance and not dealing E's in Ibiza.
In today’s world you will not be able to complete any Wolverhampton conveyancing transaction without first providing evidence of your identity to your lawyers. This usually takes the form of a either your passport or driving licence and a utility bill. Remember if you are providing your driving licence as evidence of ID it must be both the paper part and photo card part, one is not acceptable without the other. Establishing of your source of funds is required under Money Laundering laws.