Our son-in-law is buying a house that has just been built in Orpington with a mortgage from Virgin Money. His conveyancer has advised him of a delay in completing the ‘Disclosure of Incentive Form’. Who needs to receive the form?
The document 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 Virgin Money 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 Virgin Money conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.
Why do I have to pay up front when it comes to conveyancing in Orpington?
If you are buying a property in Orpington your solicitor will ask you to provide them with funds to cover the the cost of the conveyancing searches. This will be the total of the cost of the Local Authority Search. If any deposit is payable against the total price then this will be required immediately before exchange of contracts. The closing balance that is due will be payable shortly before completion.
There are a variety of conveyancing solicitors in Orpington but how do I know who I should use?
Do not opt for the cheapest Orpington conveyancing costs illustration. You really do get what you pay for when it comes to property lawyers. A cheap quote may mean that the conveyancing solicitor is handling a lot of jobs at one time and you won’t get the quality of service and the attention that you need. It is, however, wise to use a conveyancer who has a fixed fee on a no sale, no fee basis. This way, you know exactly what you’ll have to pay in advance.
Can I be sure that the Orpington conveyancing solicitor on the HSBC panel is any good?
When it comes to conveyancing in Orpington seeking recommendations is a sensible start. Before you go ahead, check if they offer a no sale no fee offer. Also, you often get what you pay for - a firm which quotes more, will often provide a better service than one advertising the lowest fees. We would always advise that you speak with the lawyer carrying out your conveyancing.
My sealed bid on a detached house in Orpington has been agreed to, but there is a chain. The sellers have offered on on an apartment, however it’s not yet tied up, and have viewings of other flats booked. I have selected a high street conveyancing solicitor in Orpington. What do I do now? At what stage should I apply for the mortgage with Co-operative?
It is usual to have anxieties where there is a chain as you are unlikely to want to incur expenses too early (mortgage application is approx £1k, then survey, Orpington conveyancing search fees, etc). First, you should ensure that your property lawyer is on the Co-operative approved list. Concerning the next steps this very much dictated by the circumstances of your transaction, desire for the property and on the state of the market. During a rising market the majority of purchasers will apply for a home loan with Co-operative and arrange for the valuation and only if it comes back ok would they pay their conveyancer to move forward with searches.
I am buying my first flat in Orpington with the aid of help to buy. The builders would not move on the price so I negotiated £7000 of additionals instead. The house builders rep told me not to tell my conveyancer about this deal as it could adversely affect my mortgage with Barnsley Building Society. 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.
Do I need to be wary about brokers that I am dealing with are recommending a national conveyancing firm rather than a High Street Orpington conveyancing firm?
As with lots of service providers, often referrals from connections can be extremely useful or valuable. But there are many people with a vested interest in a conveyancing matter; estate agents, financial adviser and lenders might all put forward conveyancers to select. On occasion the lawyers might be known to one of the organisations as experts in their field, but occasionally there behind the scenes commercial relationship behind the recommendation. You have the right to appoint your own lawyer. However, bear in mind that some lenders operate an approved list of solicitors you must use for the lender related work in your transaction.
As co-executor for the will of my grandmother I am disposing of a residence in Newport but live in Orpington. My lawyer (based 200 kilometers from meneeds me to execute a statutory declaration ahead of completion. Could you suggest a conveyancing lawyer in Orpington to attest and place their company stamp on the document?
strictly speaking you are unlikely to be required to have the documents witnessed by a conveyancing solicitor. Ordinarily or notary public or qualified solicitor will do regardless of whether they are located in Orpington