Our son-in-law is buying a newly built flat in East Beckton with a home loan from HSBC. His lawyer has advised him of a delay in completing the ‘Disclosure of Incentive Form’. Who needs to receive the form?
The form is intended to provide information to the main parties engaged in the purchase. Therefore, it will be provided to your son’s lawyer who should be on the HSBC 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 HSBC conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.
Should conveyancers request money on account for my conveyancing in East Beckton?
Where you are retaining lawyers for conveyancing in East Beckton your solicitor will request that you to provide them with monies to cover the the cost of the conveyancing searches. Generally this is asked for to cover the fees of the Local Authority Search. When the down payment is as part of the purchase price then this should be asked for shortly in advance of exchange of contracts. The closing balance that is due should be sent to your lawyer a few days ahead of the day of completion.
I'm purchasing a new build house in East Beckton with a loan from Accord Mortgages Ltd. The developers would not reduce the amount so I negotiated 6k of extras instead. The property agent advised me not inform my conveyancer about the deal as it would affect my loan with the lender. Should I keep quiet?.
All lenders require a Disclosure of Incentives Form from the builder 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'm remortgaging my existing house to a buy to let mortgage with Britannia and intend to use the remaining equity as a deposit on further property. The location we are looking at is East Beckton. Will your conveyancers be able to act for the two mortgage companies and link together the conveyances?
Do use our comparison tool on this page to ensure that the lawyers are on the relevant lender panels. On the basis that they are the conveyancer will be able to simultaneously deal with the two deals but you should have a chat with you solicitor and make apparent your desired outcome and needs.
I have been sourcing a conveyancing practitioner in East Beckton for my house move. Is it possible to check a solicitor's record with the legal regulator?
One can read presented Solicitor Regulator Association (SRA) decisions stemming from investigations commenced on or after 1 January 2008. Visit Check a solicitor's record. To find details about the period before 1 January 2008, or to check a firm's history, call 0870 606 2555, 08.00 - 18.00 Monday, Wednesday, Thursday, Friday and 09.30 - 18.00 Tuesday. International callers, use +44 (0)121 329 6800. The regulator may recorded call for training reasons.
I have just started marketing my basement flat in East Beckton.Conveyancing solicitors are to be appointed soon but I have recently received a yearly service charge invoice – should I leave it to the buyer to sort out?
It best that you clear the service charge as normal as all ground rent and maintenance payments will be apportionedas part of the financial calculations for completion monies, so you will be reimbursed by the purchaser for the period running from after the completion date to the next payment date. Most management companies will not acknowledge the buyer unless the service charges have been paid and are up to date so it is important for both buyer and seller for the seller to show that they are up to date. Having a clear account will assist your cause and will leave you no worse off financially