My nephew is about to exchange on a new build apartment in Cathays with a mortgage from Principality. His lawyer has said that there is a delay in completing the ‘Disclosure of Incentive Form’. Who needs to receive the form?
The form is intended to provide information to the main parties involved in the purchase. Therefore, it will be provided to your son’s lawyer who should be on the Principality 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 Principality conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.
Do lenders provide you with an approved list of Cathays conveyancing solicitors? How do you know who is on the Co-operative conveyancing panel?
Cathays conveyancing firms themselves provide us confirmation that they are on the Co-operative conveyancing panel as opposed to being supplied with a list from Co-operative directly.
I know that there are debates on Chancel Insurance on online forums. Do I require this when purchasing a property in Cathays? or Apparently there is a law dating back centuries that could mean that house owners residing in a parish church boundary will be compelled to contribute towards repairs to the chancel in proximity to the church. Is this suitable for conveyancing in Cathays?
Unless a previous purchase of the house took place post 12 October 2013 you can take it that lawyers handling conveyancing in Cathays to continue to recommend a chancel search and or insurance against a claim.
I am purchasing my first flat in Cathays with a loan from Birmingham Midshires. The builders would not move on the amount so I negotiated five thousand pounds worth of extras instead. The house builders rep suggested that I not disclose to my lawyer about this deal as it would affect my loan with the bank. Do I keep my lawyer in the dark?.
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.
I need to appoint a conveyancing solicitor for remortgage conveyancing in Cathays. I happened to chance upon a site which appears to be the perfect answer If it is possible to get all the legals completed via phone that would be preferable. Should I be concerned? What are the potential pitfalls?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?