Our son is about to exchange on a new build apartment in Dartmouth Park with a mortgage from Aldermore. His lawyer has advised him of a delay in completing 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 transaction. Therefore, it will be provided to your son’s lawyer who should be on the Aldermore 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 Aldermore conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.
Various internet forums that I have visited warn that are the number one cause of obstruction in Dartmouth Park house deals. Is that correct?
The Council of Property Search Organisations (CoPSO) published conclusions of research by MoveWithUs that conveyancing searches do not feature amongst the most frequent causes of delays during the legal transfer of property. Searches are unlikely to feature in any delay in conveyancing in Dartmouth Park.
I'm buying a new build house in Dartmouth Park with a mortgage from Birmingham Midshires. The developers refused to budge the price so I negotiated £7000 of fixtures and fittings instead. The estate agent advised me not disclose to my conveyancer about this extras as it will put at risk my mortgage with the lender. 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.
Due to the advice of my in-laws I had a survey completed on a property in Dartmouth Park ahead of instructing solicitors. I have been informed that there is a flying freehold overhang to the property. Our surveyor has said that some lenders will refuse to issue a mortgage on this type of house.
It depends who your proposed lender is. Lloyds has different instructions from Nationwide. Should you wish to call us we can check with the appropriate lender. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Dartmouth Park. Conveyancing may be slightly more expensive based on your lender's requirements.
Taking into account that I am about to spend hundreds of thousands of pounds on 3 bedroom house in Dartmouth Park I would like to have a conversation with the lawyer regarding thehouse move ahead of instructing the firm. Is this something that you can arrange?
Absolutely - we would be pleased to talk to you we do not take any clients on without you liaising with the solicitor due to be doing your conveyancing in Dartmouth Park.There is no ‘factory style conveyancing’ - each client is unique individual, not a matter number. The law firms that we put you in touch with believe that the fees you are provided with for residential conveyancing in Dartmouth Park should be the amount on the final invoice that you end up paying.
Should I go with a Dartmouth Park conveyancing practitioner in close proximity to the house I am buying? An old friend can perform the legal formalities however her office is 200miles drive away.
The primary upside of using a high street Dartmouth Park conveyancing firm is that you can pop in to execute documents, deliver your identification documents and pester them where appropriate. Having local Dartmouth Park know how is a plus. That being said nothing is more important than finding someone that will do a good and efficient job. If if people you trust used your friend and the majority were happy that must trump using an unknown Dartmouth Park conveyancing solicitor just because they are round the corner.