My nephew is purchasing a new build apartment in Slade Green with a home loan from Kent Reliance. His solicitor has said that there is a delay in receiving the ‘Disclosure of Incentive Form’. This document is news to me - what is it and who needs sight of it?
The form 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 Kent Reliance 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 Kent Reliance conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.
Will conveyancers request an advanced payment for conveyancing in Slade Green?
If you are buying a property in Slade Green your solicitor will request that you to provide them with monies to cover the the cost of the conveyancing searches. This will be the total of the cost of the conveyancing searches. If any deposit is as part of the total price then this should be required shortly ahead of exchange of contracts. The final balance that is due will be payable shortly before completion.
Is it the case that all Slade Green CQS (Conveyancing Quality Scheme) solicitors are on the Kent Reliance conveyancing panel?
It is true that some lenders now use the accreditation scheme as the kick off point for Panel approval such as HSBC and Santander. CQS accreditation however is no guarantee to lender panel acceptance. That being said,the Council of Mortgage Lenders have indicated that it is likely to become a pre-requisite for solicitor practices wishing to remain on their approved list of conveyancing solicitors.
Planning on purchasing a maisonette in Slade Green. I have received an online quote from a licenced conveyancer, which states: "There will be no charge for dealing with the Building Society if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the Bank of Ireland conveyancing panel. I wanted to make sure it means there will be no additional fees for dealing with the mortgage.
They are simply saying that the cost for acting for the lender is included in the fee being quoted. It is worth you checking that the Slade Green solicitor is on the Bank of Ireland conveyancing panel.
After what feels like an age I have had an offer on an apartment in Slade Green agreed to, but there is a chain. The vendors have offered on a property, but it’s not yet tied up, and are looking at other apartments in the pipeline. I have selected a high street conveyancing solicitor in Slade Green. What should be my next step? At what stage do I apply for the mortgage with Clydesdale?
It is normal to have concerns where there is a chain as you are unlikely to want to be too out of pocket too early (home loan application is approx one thousand pounds, then valuation, Slade Green conveyancing search fees, etc). The first thing to do is check that your conveyancing practitioner is on the Clydesdale conveyancing panel. Regarding the subsequent stages this very much depends on the uniqueness of your case, attraction to the property and on the state of the market. During a rising market the majority of purchasers would apply for a home loan with Clydesdale and arrange for the valuation and only if it was satisfactory would they pay their conveyancer to press on with searches.
I am purchasing a new build house in Slade Green benefiting from help to buy. The developers refused to reduce the amount so I negotiated £7000 of additionals instead. The property agent advised me not to tell my conveyancer about this deal as it would adversely affect my mortgage with Santander. 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.
Yesterday I discovered that there is a flying freehold element on a house I have offered on last month in what was supposed to be a quick, no chain conveyancing. Slade Green is where the house is located. Can you shed any light on this issue?
Flying freeholds in Slade Green are not the norm but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Slade Green you would need to get your solicitor to go through the deeds diligently. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Slade Green 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.
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At this site receive a conveyancing quote via a Solicitor or Licensed Conveyancer that appreciates the nuances of your conveyancing in Slade Green. As opposed to estate agents and brokerage sites we do not charge firms a fee if you select them for your home move in Slade Green