My god-son is in the process of securing a house that has just been built in South Wimbledon with a mortgage from Lloyds. His conveyancer has said that there is 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 purchase. Therefore, it will be provided to your son’s lawyer who should be on the Lloyds 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 Lloyds conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.
We see that you have a search directory identifying solicitors on the TSB conveyancing panel. Do firms pay you a commission if I instruct them for our own conveyancing in South Wimbledon?
We are a listing service only for law firms wishing to communicate if they are on the TSB conveyancing panel or other lender panels. We do not charge referral fees to any conveyancer that you subsequently appoint for your conveyancing in South Wimbledon.
My wife and I purchasing a 3 bedroom semi in South Wimbledon. The intention is to carry out a loft conversion at the property.Will the conveyancing process involve checks to see if these works are prohibited?
Your property lawyer should review the registered title as conveyancing in South Wimbledon will sometimes identify restrictions in the title deeds which prohibit certain alterations or need the permission of another owner. Some additions call for local authority planning consent and approval under the building regulations. Some locations are designated conservation areas and special planning restrictions apply which frequently prevent or impact extensions. It would be prudent to check these things with a surveyor prior to committing yourself to a purchase.
We have agreed to purchase a house in South Wimbledon. A rare aspect is that the roof has a solar panel. Barclays have issued a mortgage offer so presumably this is not a concern to them. Why is my solicitor raising questions about the panel?
As your lender is Barclays your lawyer must check the conveyancing requirements set out in Part 2 of UK Finance Lenders’ Handbook for Barclays. The CML Handbook sets out minimum provisions for solar panel roof-space leases, and conveyancing practitioners are required to report to Barclays where a lease fails to satisfy these requirements. The provisions relate to the installation of panels on properties nationwide and is not limited to South Wimbledon.
After shopping around on the internet I have found a South Wimbledon conveyancer having checked that they are on the TSB conveyancing panel. Does my lawyer arrange the survey of the property?
TSB will need an independent valuation of the property. Your lawyer will not arrange this. Usually TSB will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey. Your conveyancing practitioner will not organise the survey but they may be able to put you in touch with a local one that they recommend. RICS offers a find a surveyor service (just google it) where you can search for a qualified surveyor by your South Wimbledon postcode. As you are getting a mortgage with TSB, you could contact them to see if they have a list of approved surveyors in South Wimbledon.
I am buying a new build house in South Wimbledon with a loan from Lloyds TSB Bank. The builders would not reduce the amount so I negotiated five thousand pounds worth of fixtures and fittings instead. The estate agent told me not reveal to my lawyer about the extras as it will put at risk my loan with Lloyds TSB Bank. Is this normal?.
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 am looking for a leasehold apartment up to £245,000 and identified one near me in South Wimbledon I like with amenity areas and transport links nearby, the downside is that it only has 51 years unexpired on the lease. I can't really find anything else in South Wimbledon suitable, so just wondered if I would be making a grave error acquiring a short lease?
If you require a home loan that many years will be an issue. Reduce the price by the anticipated lease extension will cost if it has not already been discounted. If the existing proprietor has owned the premises for at least 2 years you could request that they start the process of the extension and pass it to you. An additional ninety years can be extended on to the current lease and have £0 ground rent by law. You should consult your conveyancing lawyer concerning this.
What tools are available to identify a South Wimbledon solicitor on the Accord Mortgages Ltd conveyancing panel? I have a car and am prepared to travel upto 25kilometers to meet the solicitor.
You can use the facility on this page. Please pick a bank and your location and you will see a number of South Wimbledon conveyancing lawyers based on proximity. We have detailed some South Wimbledon conveyancing firms towards the end of this page and you can contact them to see if they are on the Accord Mortgages Ltd approved list