My son-in-law is about to exchange on a house that has just been built in Fairlop with a mortgage from Clydesdale. His conveyancer has advised him of a delay in receiving the ‘Disclosure of Incentive Form’. Who needs to receive the form?
The form 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 Clydesdale 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 Clydesdale conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.
We previously chose solicitors locally in Fairlop on the Virgin Money solicitor panel. They have just billed me an additional amount for the legal aspects of the Virgin Money mortgage. Is this an additional conveyancing fee specified by Virgin Money?
As unfair as it may appear, as long as it’s in their Terms of Engagement or estimate then yes your solicitor can levy a fee for this. The fee is not dictated by Virgin Money but by your Fairlop property lawyer. Numerous firms on the Virgin Money panel will charge ’dealing with mortgage’ fee and others do not.
Two weeks ago we had a mortgage agreed in principle with Virgin Money. Fairlop conveyancing solicitors were instructed. How long does it take for Virgin Money to send the offer to the conveyancer?
Some lenders take longer than others. Have Virgin Money conducted the survey? Have you informed Virgin Money as to your lawyers' details and checked that your lawyers are on the Virgin Money conveyancing panel? It is not unusual for a mortgage offer to take a month to come through.
The formalities of my remortgage has taken place for my property in Fairlop. Conveyancing was of an acceptable standard but I would like to complain about the lender. How do I make a complaint?
Most lenders have complaints procedures. Your first point of contact should be one of the lender’s branches or the Customer Care Department at head office. We understand that complaints to a lender are sorted out very quickly. If you feel the matter is not resolved you can write to Financial Ombudsman Service with full details of your complaint.
I am selling our property in Fairlop and according to the buyers it appears that there is a possibility that the property was built on contaminated land. Any local conveyancer would know this is not the case. For the life of me I don't know why the buyers used an internet conveyancing firm rather than a conveyancing solicitor in Fairlop. Having lived in Fairlop for 4 years we know that this is a non issue. Do we contact our local Authority to seek clarification that there is no issue.
It would appear that you have a conveyancing firm currently acting for you. Are they able to advise? You should enquire of your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out health insurance to cover that same illness)
Due to the input of my in-laws I had a survey completed on a house in Fairlop prior to appointing conveyancers. I have been informed that there is a flying freehold element to the property. Our surveyor has said that some lenders may not give a mortgage on a flying freehold home.
It depends who your proposed lender is. Bank of Scotland has different requirements from Birmingham Midshires. Should you wish to call us we can investigate further via the relevant lender. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Fairlop. Conveyancing will be smoother if you use a solicitor in Fairlop especially if they are accustomed to such properties in Fairlop.
Is it possible to switch conveyancer as I have to retain a firm on the HSBC Bank conveyancing panel. I had appointed a family conveyancing solicitor in Fairlop round the corner but she is not approved by HSBC Bank
We will our best to assist in finding you a conveyancing solicitor in Fairlop on the HSBC Bank panel. Please note that the law firms that we list do not pay us fee if you instruct them and are under regulation of the SRA who oversee all conveyancing solicitors in Fairlop. Using the find a conveyancing solicitor tool on this page, you can compare and instruct different solicitors and conveyancers both nationally and in Fairlop.
I have miscalculated my finances and am a couple of thousand pounds short a 10% deposit on my flat purchase in Fairlop , but I am anxious proceed. What can I do?
One option is to try and agree a lesser deposit. Most vendors will agree to a smaller deposit or even no deposit for a first time buyer or 100% mortgage. Be aware though that if you fail to complete you will still need to hand over a minimum of 10% of the purchase price regardless of how much deposit was agreed.
You can also agree a simultaneous exchange and completion as no deposit is required for this however neither party will be tied in until completion actually takes place and it can be risky if sellers change their mind at the last second