My nephew is in the process of securing a house that has just been built in Stroud with a home loan from Virgin Money. His solicitor has said that there is a delay in completing 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 purchase. Therefore, it will be provided to your son’s lawyer who should be on the Virgin Money 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 Virgin Money 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 flat and require a conveyancing solicitor in Stroud who is on the Kent Reliance approved panel. Could you point me in the right direction as regards a conveyancing firm?
Our service is limited to being a directory service for firms who wish to be listed as being on the approved conveyancing panel for Kent Reliance . We don't recommend any particular firms conducting conveyancing in Stroud.
We are getting a further advance on our mortgage from Barclays as we want to conduct renovations to our home in Stroud. Do we need to choose a bricks and mortar Stroud solicitor on the Barclays conveyancing panel to handle the paperwork?
Barclays don't usually require a member of their approved list of lawyers to handle such a matter. If they do require any legal work then you would need to ensure that such a lawyer was on the Barclays list.
We were going to get a AIP from Aldermore this week so we know how much we could potentially offer as otherwise we are dependent on web based calculators (which aren't taking into account credit checks etc). Do Aldermore recommend any Stroud solicitors on the Aldermore conveyancing panel, or is it better to go independently?
You will need to appoint Stroud solicitors independently although you'll need to choose one on the Aldermore conveyancing panel. The solicitor represents both you and Aldermore through the process.
About to purchase maisonette in Stroud. I have received an online quote from a licenced conveyancer, which states: "There will be no charge for dealing with the Lender if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the Nationwide conveyancing panel. I wanted to make sure it means there will be no additional fees for dealing with the mortgage.
They are simply saying that the cost for acting for the lender is included in the fee being quoted. It is worth you checking that the Stroud property lawyer is on the Nationwide conveyancing panel.
Yesterday I discovered that there is a flying freehold issue on a property I have offered on two weeks back in what was supposed to be a quick, chain free conveyancing. Stroud is the location of the property. What do you suggest?
Flying freeholds in Stroud are not the norm but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Stroud you would need to get your solicitor to go through the deeds thoroughly. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Stroud may decide 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 property.
Our lawyer in Stroud has informed me that he requires identification documents saying that this is part of his requirements as a conveyancer on the bank Solicitor panel. This is news to me - can I refuse?
Anti-terror and anti-money-laundering rules require Stroud conveyancing solicitors and licensed conveyancers to verify the identity of the person or body they are dealing with before they can accept their conveyancing business. The Terms and Conditions that you need to sign will no doubt confirm this. Your lawyer is right that the lender also require certain documents to be viewed. If a you refuse to provide ID verification documents, your conveyancer would not be able to accept instructions from you. Your lawyer also has obligations to obtain certain documents in accordance with the mortgage company's UK Finance Lenders’ Handbook requirements