My son-in-law is about to exchange on a newly built flat in Leigh with a home loan from Yorkshire BS. His conveyancer has advised him of a delay in completing 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 Yorkshire BS 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 Yorkshire BS conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.
When it comes to mortgage companies such as UBS, do Leigh conveyancers incur a yearly amount to be on the conveyancing panel?
We are not aware of any mortgage company fees to be on their list of approved firms, although some do levy an administration fee to deal with the processing of the conveyancing panel submission.
Does a directory service exist listing Lloyds panel conveyancers in Leigh on the Building Society Association’s Website?
Unfortunately not yet. There is no such directory service on the CML or Building Society Association websites. A small selection of mortgage companies make their panel listings open the public on the web. Where you are seeking to appoint a Leigh property lawyer on the Lloyds please make the most of our facility.
I am due to exchange contracts on my apartment. I had a double glazing fitted in July 2006, but did not receive a FENSA certificate or Building Regulation Certificate. My buyer's lender, HSBC are being problematic. The Leigh solicitor who is on the HSBC conveyancing panel is happy to accept ‘lack of building regulation’ insurance but HSBC are requiring a building regulation certificate. Why do HSBC have a conveyancing panel if they don't accept advice from them?
It is probably the case that HSBC have referred the matter to their valuer. The reason why HSBC may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing was correctly and safely installed. The indemnity insurance merely protects against enforcement action which is very unlikely anyway.
I'm purchasing a new build house in Leigh with a loan from Norwich and Peterborough Building Society. The sellers would not reduce the price so I negotiated five thousand pounds worth of additionals instead. The sale representative advised me not disclose to my conveyancer about the deal as it will put at risk my loan with the 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.
How difficult is it to transfer to a new solicitor as I need to retain one who is on the Virgin Money conveyancing list. I had appointed a high street conveyancing solicitor in Leigh five minutes from me but the firm is not accepted by Virgin Money
It would be our pleasure to assist you find a conveyancing solicitor in Leigh on the Virgin Money panel. Please note that the law firms that we on the directory do not pay us commission if you instruct them and are registered with the SRA who regulate all conveyancing solicitors in Leigh. Using the find a conveyancing solicitor tool on this page, you can contrast charges for conveyancing solicitors in Leigh and beyond.
My father-in-law has encouraged me to instruct his conveyancers in Leigh. Should I find my own solicitor?
Much as we are happy to recommend a Leigh conveyancing lawyer it’s preferable to choose a conveyancing solicitor is to get referrals from friends or family who have actually used the firm that you are contemplating using.