My grandson is purchasing a house that has just been built in Lower Morden with a home loan from Nottingham. His solicitor has said that there is a delay in completing the ‘Disclosure of Incentive Form’. What is this document - I have never come across this before?
The form 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 Nottingham 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 Nottingham conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.
Finally the sale completed on my house in Lower Morden last February yet the purchaser is Skype messaging daily to say his conveyancer needs to hear from mysolicitor. What should my lawyer have done now that I have sold?
Following your sale your conveyancer is obliged to deliver the transfer documentation and all supplemental paperwork to the purchaser's conveyancer. Depending on the transaction, your solicitor should also evidence that the mortgage has been redeemed to the purchasers lawyers. There are no post completion procedures specific conveyancing in Lower Morden.
What is the best way to investigate if the solicitor handling my conveyancing in Lower Morden is on the bank’sapproved panel? I am looking to avoid the situation of having one lawyer for me and one for Accord Mortgages Ltd thus spending £187.00 plus VAT in supplemental conveyancing charges.
Feel free to make the most of the find a lender approved solicitor tool on this web page. Please choose the lender and type ‘Lower Morden’ or your location and you will discover numerous conveyancers offices in Lower Morden or by proximity to you.
I am purchasing a new build house in Lower Morden with the aid of help to buy. The developers would not reduce the price so I negotiated five thousand pounds worth of extras instead. The property agent told me not reveal to my lawyer about the extras as it would affect my loan with Lloyds TSB Bank. 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.
I've recently found out that there is a flying freehold element on a property I have offered on a fortnight ago in what should have been a straight forward, no chain conveyancing. Lower Morden is the location of the property. Can you offer any guidance?
Flying freeholds in Lower Morden are rare but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Lower Morden you must be sure that your lawyer goes through the deeds diligently. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Lower Morden 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.
Do online conveyancing organisations do everything a high street Lower Morden solicitor does or do I still need to use a solicitor for the final stages for my conveyancing in Lower Morden?
If you choose an online conveyancer they should cover all the tasks your Lower Morden conveyancer will cover.