Our son-in-law is buying a new build apartment in Great Yarmouth with a mortgage from RBS. His lawyer 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 involved in the transaction. Therefore, it will be provided to your son’s lawyer who should be on the RBS 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 RBS conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.
I have a decision in principle. The bank mentioned the mortgage came with free conveyancing. Is the implication that I have to use their panel lawyer as I would prefer to use a local conveyancing solicitor in Great Yarmouth?
Do check but the chances are that allocate you one of their panel lawyers if you want the "fee-free" offer. Call the lender and determine if they make available a cash alternative. Some mortgage companies have previously offered a £250 cashback as a further option in which case you could put that amount towards the cost for your conveyancing solicitor in Great Yarmouth.
Have just purchased a probate house at auction in Great Yarmouth. Conveyancing is required. What happens now?
Having for in every practical sense signed on the dotted line you will need to appoint a conveyancing solicitor quickly as you are facing a tight deadline in which to complete the deal. All auction property should have a bespoke legal pack. This will likely include evidence of title and search results. Where you are dealing with leasehold premises the auction papers should contain a copy of the lease, management information and a sellers leasehold information form and other conveyancing paperwork relating to a leasehold property. You must give this to your appointed conveyancing solicitor at the earliest opportunity. Do make sure that that you have the requisite funding in place to complete on the on the contractual date .
My wife and I are in the process of viewing flats in Great Yarmouth and I am about to put in an offer. Is it too early to have a solicitor in place? I am planning to take a home loan with Nottingham.
It would be sensible to start your search sooner rather than later. After you have chosen your lawyer and once your offer is accepted you can instruct them to work for you and pass their contact information on to the EA. As you are getting a mortgage with Nottingham, make sure you remember to check that your lawyer is on the Nottingham conveyancing panel.
I am due to exchange contracts on my apartment. I had a double glazing fitted in July 2010, but did not receive a FENSA certificate or Building Regulation Certificate. My buyer's mortgage company, Co-operative are being difficult. The Great Yarmouth solicitor who is on the Co-operative conveyancing panel is recommending indemnity insurance as a solution but Co-operative are requiring a building regulation certificate. Why do Co-operative have a conveyancing panel if they don't accept advice from them?
It is probably the case that Co-operative have referred the matter to their valuer. The reason why Co-operative 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.
It has been 4 months since my purchase conveyancing in Great Yarmouth took place. I have checked the Land Registry website which shows that I paid £200,000 when infact I paid £170,000. 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 asset 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.
I have been sourcing a conveyancing practitioner in Great Yarmouth for my home move. Is there any facility to review a firm’s record with the profession’s regulator?
Members of the public can read presented Solicitor Regulator Association (SRA) determinations resulting from inquisitions from 2008 onwards. Go to Check a solicitor's record. For records about the period before 1 January 2008, or to check a solicitors history, telephone 0870 606 2555, 08.00 - 18.00 Monday, Wednesday, Thursday, Friday and 09.30 - 18.00 Tuesday. For callers outside the UK, use +44 (0)121 329 6800. The regulator could recorded telephone calls for training reasons.