Our nephew is in the process of securing a newly built flat in Appleton with a mortgage from UBS. His lawyer has said that there is a delay in receiving the ‘Disclosure of Incentive Form’. Who needs to receive the form?
The document 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 UBS 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 UBS conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.
It is a dozen years since I purchased my house in Appleton. Conveyancing solicitors have now been instructed on the sale but I am unable to find the title documents. Will this cause complications?
You need not be too concerned. First there is a chance that the deeds will be retained by the mortgage company or they could stored with the solicitor who handled the purchase. Secondly the likelihood is that the title will be registered at the land registry and you will be able to establish that you own the property by your conveyancing lawyers acquiring current official copies of the land registers. Nearly all conveyancing in Appleton relates to registered property but in the unlikely event that your home is unregistered it adds to the complexity but is not insurmountable.
Are the BSA planning on creating a searchable register to list law firms on the Darlington Building Society conveyancing panel for example in Appleton?
We have not been informed any intention on the part of the BSA to promote such a search facility.
I happen to be the only beneficiary of my late mum's will and I have everything in my name now, including the my former home in Appleton. Conveyancing formalities meant that the Land Registry date was in June. I plan to dispose of the house. I understand that there is a Mortgage Lenders 6 month 'rule', which means that my proprietorship will be considered the same way as though I had purchased the house in June. Will no one buy the property for half a year?
The Council of Mortgage Lenders’ handbook mandates conveyancers to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." By the strict wording you might be impacted by that. many banks would take a practical view as this clause is principally there to pick up on the purchase and immediately sell or the quick reselling of properties.
How can we know in advance if a Appleton conveyancing solicitor on the Barclays panel is any good?
When it comes to conveyancing in Appleton obtaining recommendations is a sensible start. Before you go ahead, check if they offer a no sale no fee offer. Also, you often get what you pay for - a firm which quotes more, will often provide a better service than one advertising the lowest fees. We would always advocate that you speak with the solicitor conducting your transaction.
I am currently in the process of buying my council flat in Appleton. I have a mortgage offer with TSB. Conveyancing is not something I have any knowledge of. Can I proceed without a solicitor easily? I think we can but we keep being told I should use one. Any advice?
It is not advisable to proceed with a house purchase without a solicitor. The council's solicitor are not acting for you. You need a solicitor for a number reasons. One of which is to verify what plans the Council have for repairs and refurbishment for the next five years. Many leaseholders have been stung for contributions of thousands of pounds. In any event, if you are getting a mortgage with TSB, you will need to appoint a solicitor on the TSB conveyancing panel.
A friend suggested that where I am buying in Appleton I should ask my conveyancer to carry out a Neighbourhood, Planning and Local Amenity Search. Can you explain what the purpose of this search is?
This is a search is sometimes quoted for as part of the standard Appleton conveyancing searches. It is a large document of about 40 pages, listing and setting out significant information about Appleton around the property and the people living there. It incorporates an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the local Housing Market, Council Tax Banding, the type of People living in the area, the dominant type of Housing, the Average Property Price, Crime statistics, Local Education with plans and statistics, Local Amenities and other useful data about Appleton.
I am purchasing my first flat in Appleton with a mortgage from The Mortgage Works. The sellers would not reduce the amount so I negotiated five thousand pounds worth of additionals instead. The property agent suggested that I not reveal to my lawyer about this side-deal as it could impact my mortgage with the bank. Should I keep quiet?.
All lenders require a Disclosure of Incentives Form from the developer of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.