Our grandson is in the process of securing a house that has just been built in Poole with a home loan from Leeds Building Society. His solicitor 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 engaged in the purchase. Therefore, it will be provided to your son’s lawyer who should be on the Leeds Building Society 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 Leeds Building Society conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.
Can your site be used to locate a Conveyancing solicitor in Poole even if I’m not purchasing or disposing of a house, for instance where I want to acquire a shop in Poole with a mortgage from Godiva Mortgages Ltd?
The service is primarily there to get a quote from residential conveyancing solicitors in Poole but we have recorded at the end of this page some Poole commercial conveyancing firms. You will need to enquire with the solicitors directly to check if they are also authorised to represent Godiva Mortgages Ltd
I'm buying a new build house in Poole with a mortgage from Coventry Building Society. The builders refused to move on the amount so I negotiated five thousand pounds worth of additionals instead. The estate agent advised me not reveal to my conveyancer about the side-deal as it would jeopardize my loan with the lender. 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 am looking for a leasehold apartment up to £245,000 and identified one close by in Poole I like with a park and railway links nearby, however it's only got 61 years on the lease. There is not much else in Poole suitable, so just wondered if I would be making a grave error buying a lease with such few years left?
If you require a home loan the remaining unexpired lease term will likely be a potential deal breaker. Reduce the offer by the expected lease extension will cost if it has not already been discounted. If the current owner has owned the premises for a minimum of twenty four months you may ask them to commence the lease extension formalities and then assign it to you. An additional ninety years can be extended on to the current lease and have £0 ground rent by law. You should speak to your conveyancing solicitor concerning this.
I'm refinancing my primary home to a BTL loan with Leeds Building Society and intend to use the remaining equity as a deposit on further house. The area we are talking about is Poole. Will your conveyancers be able to act for the two mortgage companies and tie in the conveyances?
Do use our comparison tool on this page to ensure that the solicitors are on the appropriate lender panels. On the basis that they are the solicitor will be able to simultaneously deal with the two transactions but you should talk with you conveyancer and make clear your desired outcome and needs.