Our son-in-law is purchasing a new build apartment in Kemp Town with a home loan from HSBC. His solicitor has advised him of a delay in receiving 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 transaction. Therefore, it will be provided to your son’s lawyer who should be on the HSBC 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 HSBC conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.
I am thinking of remortgaging my apartment in Kemp Town, does my lawyer need to be on the Coventry BS Solicitor panel?
In theory, you could use a solicitor that is not on the Coventry BS conveyancing panel, but Coventry BS 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.
Is it the case that all Kemp Town solicitor practices on the Coventry BS conveyancing panel are governed by the SRA?
As a firm of solicitors, in order to be on the Coventry BS conveyancing panel they would need to be governed by the SRA. The majority of mortgage companies do permit licenced conveyancers on their panel and in that case the organisation would be overseen by the Council of Licensed Conveyancers.
I am due to exchange contracts on my apartment. I had a double glazing fitted in June 2006, but did not receive a FENSA certificate or Building Regulation Certificate. My buyer's mortgage company, Clydesdale are being problematic. The Kemp Town solicitor who is on the Clydesdale conveyancing panel is saying indemnity insurance will be fine but Clydesdale are requiring a building regulation certificate. Why do Clydesdale have a conveyancing panel if they don't accept advice from them?
It is probably the case that Clydesdale have referred the matter to their valuer. The reason why Clydesdale may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing was correctly and safely installed. The indemnity insurance merely protects against enforcement action which is very unlikely anyway.
Lloyds have agreed my home loan in principle, my offer on a apartment in Kemp Town has been agreed to, what happens next?
Your property agent will want to know who your solicitors are (ensure that the solicitors are on the bank’s approved list). Contact Lloyds or your broker and complete any appropriate documentation. Lloyds will sellect a valuer who will get in contact with the selling agent or vendor to book a slot for the valuation to happen. Once conducted (assuming no problems) it takes about a fortnight to receive the mortgage offer. Lloyds will issue the offer to you and your lawyers. The transaction will then take it’s course according the nature and complexity of the conveyancing in Kemp Town.
In my capacity as executor for the will of my uncle I am disposing of a property in Newport but live in Kemp Town. My solicitor (based 250 kilometers from mehas requested that I sign a statutory declaration before the transaction finalising. Could you suggest a conveyancing lawyer in Kemp Town who can witness and place their company stamp on the document?
strictly speaking you are unlikely to need to have the documents attested by a conveyancing solicitor. Normally any notary public or solicitor will do regardless of whether they are based in Kemp Town
Do online conveyancing companies do everything a high street Kemp Town solicitor does or do I still need to use a solicitor for the final stages for my conveyancing in Kemp Town?
Where you choose an online conveyancer they should undertake all the things your Kemp Town solicitor would cover.