We opted for a Blackfen based solicitor for our conveyancing in Blackfen today. Reviewing the Terms and Conditions I seeI am responsible for costs even if the dealfalls through. Should I ditch them and use a web based conveyancing company advertising no move no charge conveyancing in Blackfen?
It is usually ‘give and take’ in that if "No Sale No Fee" is advertised then the conveyancing charges will generally be more expensive to offset the conveyances that abort. You should be mindful that such deals rarely cover disbursements for example Blackfen conveyancing search costs.
Our grandson is purchasing a newly built flat in Blackfen with a mortgage from Bank of Ireland. 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 document 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 Bank of Ireland 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 Bank of Ireland conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.
My wife and I have recently appointed a conveyancing solicitor in Blackfen. I I would like to check if they are accepted on the Bank of Scotland approved list of lawyers. Can you advise?
You should call the solicitor and ask them whether they are on the lender panel. Otherwise you can call Bank of Scotland who may be able to assist.
I'm purchasing my first flat in Blackfen with a mortgage from Britannia. The sellers refused to move on the amount so I negotiated £7000 of additionals instead. The estate agent suggested that I not to tell my conveyancer about the extras as it could affect my mortgage with the bank. Do I keep my lawyer in the dark?.
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.
Yesterday I discovered that there is a flying freehold element on a property I have offered on last month in what was supposed to be a quick, no chain conveyancing. Blackfen is where the house is located. What do you suggest?
Flying freeholds in Blackfen are rare but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Blackfen you must be sure that your lawyer goes through the deeds thoroughly. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Blackfen may determine 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 premises.
I was pointed in your direction by numerous selling agents in Blackfen to choose a solicitor on your site. What’s the financial inducement for Estate Agents to offer your site rather than alternative conveyancing organisations?
We don’t give any commission for directing people our way. We found it would be just too difficult to pay a commission because a client could think, ‘Why is the agent getting a kickback? Why aren’t I receiving any benefit too?’ We would prefer to grow our business on genuine recommendations.