My financial adviser says he needs my Dockland Settlement law firm’s panel member for the Nationwide conveyancing panel. What is the best way to find this out. I have e-mailed my local Dockland Settlement branch but they have not got back to me yet.
You are best placed to get this information from your Dockland Settlement conveyancer . Most Dockland Settlement law firms will retain a file or database of lender panel information which would include, if applicable, their conveyancing panel details for each bank.
Our god-son is purchasing a new build apartment in Dockland Settlement with a mortgage from Lloyds. His lawyer 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 involved in the purchase. Therefore, it will be provided to your son’s lawyer who should be on the Lloyds conveyancing panel as a standard part of the process, and to the surveyor 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 Lloyds conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.
My Conveyancer in Dockland Settlement is not on the Barnsley Building Society Conveyancing Panel. Is it possible for me to retain my family solicitor even though they are excluded from the Barnsley Building Society panel?
The limited options available to you here include:
- Complete the purchase with your existing Dockland Settlement lawyers but Barnsley Building Society will need to retain a lawyer on their panel. This will inevitably rack up the overall conveyancing fees and cause delays.
- Find an alternative practitioner to to deal with the conveyancing, not forgetting to check they are Barnsley Building Society approved.
- Persuade your Barnsley Building Society solicitor to seek to join the Barnsley Building Society panel
It has been four months following my purchase conveyancing in Dockland Settlement took place. I have checked the Land Registry website which shows that I paid £175,000 when infact I paid £180,000. 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 residence 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'm buying a new build house in Dockland Settlement benefiting from help to buy. The sellers refused to move on the price so I negotiated £7000 of extras instead. The estate agent advised me not disclose to my lawyer about the deal as it may put at risk my loan with Norwich and Peterborough Building Society. 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.
I've recently found out that there is a flying freehold issue on a house I put an offer in a fortnight ago in what should have been a simple, no chain conveyancing. Dockland Settlement is where the house is located. Can you offer any assistance?
Flying freeholds in Dockland Settlement are not the norm but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Dockland Settlement you must be sure that your lawyer goes through the deeds thoroughly. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Dockland Settlement may ascertain 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 residence.