My grandson is about to exchange on a house that has just been built in Newbury Park with a mortgage from Barclays. His solicitor 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 transaction. Therefore, it will be provided to your son’s lawyer who should be on the Barclays 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 Barclays conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.
Can I use your services to locate a Conveyancing solicitor in Newbury Park even where I’m not purchasing or selling a house, for instance where I intend to acquire a shop in Newbury Park with a loan from Chelsea Building Society?
Our search tool is primarily there to get a quote from residential conveyancing solicitors in Newbury Park but we have recorded at the bottom of this page a selection of Newbury Park commercial conveyancing firms. You should make contact with the firm directly to check if they are also authorised to represent Chelsea Building Society
I have 7378 less than 75 years left on my lease and need a lease extension for my flat in Newbury Park. Conveyancing solicitors on the Platform panel can deal with such extensions right?
Most leasehold conveyancing experts should be able to deal with a lease extension. if you are getting a mortgage then your lender may insist that the lease be extended before competition. Platform have specific requirements as set out in the UK Finance Lenders’ Handbook in relation to minimum unexpired lease terms. As of 23/8/2019 the requirements read as follows :
I am purchasing my first flat in Newbury Park benefiting from help to buy. The developers would not budge the amount so I negotiated £7000 of fixtures and fittings instead. The estate agent suggested that I not reveal to my conveyancer about this deal as it could jeopardize my loan with the bank. 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 opted to have a survey carried out on a property in Newbury Park before instructing solicitors. I have been told that there is a flying freehold overhang to the property. Our surveyor has said that some mortgage companies will not issue a mortgage on this type of home.
It depends who your proposed lender is. HSBC has different instructions for example to Halifax. If you call us we can check with the relevant bank. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Newbury Park. Conveyancing will be smoother if you use a solicitor in Newbury Park especially if they are acquainted with such properties in Newbury Park.
I am selling my house. My former conveyancers have shut. It would be helpful to have a recommendation of a conveyancing firm. Im based in Newbury Park if that makes things easier.
You should use our search tool to help you choose a solicitor for your conveyancing in Newbury Park. We have connected thousands of home buyers and sellers with regulated solicitors to ensure that the legalities of their house move runs with a minimum of fuss.