My son-in-law is about to exchange on a house that has just been built in Shepherd's Bush with a home loan from RBS. His conveyancer has said that there is a delay in receiving the ‘Disclosure of Incentive Form’. What is this document - I have never come across this before?
The document 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 RBS 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 RBS conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.
I am purchasing a semi-detached house in Shepherd's Bush. Conveyancing solicitors are said to be ‘a necessary evil’ but can I do it myself?
Leaving aside the complexities and merits of DIY conveyancing in Shepherd's Bush you will have to appoint a solicitor on your mortgage company's conveyancing panel to look after their interests. Most people therefore find it easier to let the solicitor act for them and the lender. Furthermore there is minimal cost savings to be made in you doing conveyancing for yourself and another lawyer conducting the conveyancing for the lender. Please feel free to use the search tool to find a lawyer on your lender panel in Shepherd's Bush.
I am purchasing my first flat in Shepherd's Bush with a mortgage from Birmingham Midshires. The builders refused to budge the price so I negotiated five thousand pounds worth of fixtures and fittings instead. The sale representative told me not disclose to my conveyancer about the side-deal as it may affect my mortgage with the lender. Is this normal?.
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.
Due to the input of my in-laws I had a survey completed on a house in Shepherd's Bush ahead of appointing lawyers. I have been informed that there is a flying freehold aspect to the house. My surveyor has said that some banks tend refuse to give a loan on such a property.
It varies from the lender to lender. Santander has different instructions for example to Birmingham Midshires. Should you wish to telephone us we can check with the appropriate lender. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Shepherd's Bush. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Shepherd's Bush to see if the conveyancing costs will increase in light of this.
In searching the web for the term conveyancing in Shepherd's Bush it shows results of numerous property lawyerslocally. How do I determine which is the right conveyancing solicitor for purchase transaction?
The ideal method of seeking a suitable conveyancer is through a personal referral, so ask friends and family who have bought a property in Shepherd's Bush or a respected estate agent or financial adviser. Fees for conveyancing in Shepherd's Bush vary, so it's a good idea to request a minimum of three fee estimates from varying types of property lawyers. Make sure that you know that the fees are fixed.
I am looking for Shepherd's Bush conveyancing quotes online. Can I be sure that all the Shepherd's Bush law firms that are identified on your directory are on the mortgage company conveyancing panel?
The law firms on our directory have advised us that they are on the lender panel and agreed to advise us to take down their listing in the event of removal off of the bank panel. To date we have not been informed by either a mortgage company or a member of the public that the data about a specific Shepherd's Bush conveyancing solicitor being on the lender conveyancing panel is incorrect.