My son is in the process of securing a newly built flat in Tiptree with a home loan from UBS. 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 engaged in the purchase. Therefore, it will be provided to your son’s lawyer who should be on the UBS conveyancing panel as a standard part of the process, and to the surveyor 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 UBS 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 for conveyancing in Tiptree?
Where you are retaining lawyers for conveyancing in Tiptree your solicitor will ask you put them with funds to cover the search fees. This will be the total of the cost of the Local Authority Search. When the down payment is as part of the sale price then this will be required immediately prior to contracts are exchanged. The final balance that is due should be transferred a few days prior to the completion date.
We are purchasing a house in Tiptree. It might be a silly question but how we can trust a solicitor? At some point we have to deposit money into their account. What is the protection we have from them run away with our money?
Be assured that all money in a Solicitors client account is 100% safe, and even if your Solicitor ran off with it, the Law Society would reimburse you fully.
I'm the only recipient of my late grandmother’s will and I have everything in my name now, including the my former home in Tiptree. The Tiptree property was put into my name in January. I now wish to sell up. I do know about the CML six month 'rule', meaning my property ownership could be treated the same way as though I had purchased the house in January. Will no one buy the property for half a year?
The CML handbook requires solicitors to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." By the strict wording you may be affected by that. How practical a view lenders take of it, depend on the bank as this clause is principally there to capture the purchase and immediately sell or the wholesaling and assigning of property.
The formalities of my remortgage has taken place for my property in Tiptree. Conveyancing was satisfactory but I feel I should register my dissatisfaction about the lender. Who do I contact should I wish to lodge a complaint?
All banks and building societies have complaints procedures. Your first port of call should be one of the lender’s branches or the Customer Services Department at head office. In most cases complaints to a lender are sorted out very quickly. However if you are not satisfied that the matter is not resolved you can write to Financial Ombudsman Service who will take matters further.
I am purchasing a house and the conveyancer has identified Chancel Repair for which the house could be obligated to pay because it falls into the area of such a church. He has recommended insurance. Is this strictly appropriate for conveyancing in Tiptree
Unless a previous purchase of the property took place post 12 October 2013 you may take it that lawyers delivering conveyancing in Tiptree to continue to recommend a chancel search and or chancel repair liability insurance.
Have purchased a a semi-detached house in Tiptree , how long will it take for the Land Registry to record my ownership? My Tiptree conveyancing solicitor has been painfully slow, so I want to be sure that my purchase is registered.
There is nothing unique about conveyancing in Tiptree registration formalities. Rather than based on location, timescales can vary according to who lodges the application, whether it is in order and if the Land registry have to notify any other persons or bodies. At present approximately three quarters of submission are fully dealt with within two weeks but some can be subject to protracted hold-ups. Registration is effected once the new owner has moved in to the premises therefore post completion formalities is not typically top priority but if it is urgent that the the registration takes place urgently then you or your solicitor can communicate with the Registry to express the reasoning for an expedited registration.
I'm purchasing my first flat in Tiptree with the aid of help to buy. The developers refused to reduce the price so I negotiated £7000 of extras instead. The sale representative told me not reveal to my conveyancer about this side-deal as it could impact my mortgage with the lender. 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.