Our god-son is purchasing a house that has just been built in Clayhall with a home loan from Barclays. His solicitor 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 form is intended to provide information to the main parties engaged in the transaction. Therefore, it will be provided to your son’s lawyer who should be on the Barclays 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 Barclays conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.
My lawyer in Clayhall has never been on on the Skipton Building Society Approved Panel. Is it possible for me to retain my family solicitor notwithstanding that they are not on the Skipton Building Society approved list?
Your options are as follows:
- Complete the purchase with your existing Clayhall solicitors but Skipton Building Society will need to instruct a conveyancer on their list of acceptable firms. This will inevitably rack up the overall conveyancing charges as well as cause frustration.
- Get an alternative lawyer to act in the purchase, not forgetting to check they are on the Skipton Building Society panel
I'm buying my first flat in Clayhall with a loan from Nationwide Building Society. The builders refused to budge the price so I negotiated 6k of additionals instead. The estate agent advised me not to tell my lawyer about this side-deal as it would impact my mortgage with the bank. Should I keep quiet?.
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 guidance of my in-laws I had a survey completed on a house in Clayhall ahead of retaining lawyers. I have been advised that there is a flying freehold element to the property. Our surveyor has said that some lenders tend refuse to issue a mortgage on such a home.
It depends who your proposed lender is. Lloyds has different requirements for example to Nationwide. If you call us we can check with the relevant lender. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Clayhall. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Clayhall to see if the conveyancing will be more expensive.
I am looking to sell my property. My previous lawyers has retired. I am in need of a recommendation of a conveyancing firm. Im based in Clayhall if that affects matters.
Please use our search tool to help you find a solicitor for your conveyancing in Clayhall. We have connected thousands of home buyers and sellers with regulated solicitors to ensure that the legalities of their house move goes with a minimum of fuss.