My grandson is in the process of securing a new build apartment in West Thurrock with a home loan from Skipton. His conveyancer has said that there is 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 document 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 Skipton 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 Skipton conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.
My uncle pointed out to me me that in buying a property in West Thurrock there could be various restrictions affecting the ability to carry out external alterations to a property. Is this right?
There are a number of properties in West Thurrock which have some sort of restriction or requirement of consent to external changes. Part of the conveyancing in West Thurrock should determine what restrictions are applicable and advising you as part of a ROT that should be sent to you.
My wife and I buying a terrace house in West Thurrock. Our aim is to an extension at the rear at the house.Will legal conveyancing on the property involve investigations to see if these alterations are prohibited?
Your solicitor will review the deeds as conveyancing in West Thurrock will on occasion identify restrictions in the title documents which prohibit categories of works or need the permission of another owner. Certain additions require local authority planning consent and approval under the building regulations. Certain locations are designated conservation areas and special planning restrictions apply which frequently prevent or affect extensions. You should check these issues with a surveyor ahead of any purchase.
Is it the case that all West Thurrock CQS (Conveyancing Quality Scheme) solicitors are on the Santander conveyancing panel?
A selection of lenders now make use of the accreditation scheme as the kick off point for Panel approval such as HSBC and Santander. The Law Society’s CQS membership however is no guarantee to lender panel acceptance. That being said,the CML have indicated that it is likely to become a pre-requisite for solicitor practices wishing to join their panels.
I have been told that property searches are the number one reason for stalling in West Thurrock house deals. Is this right?
The Council of Property Search Organisations (CoPSO) published conclusions of a review by MoveWithUs that conveyancing searches do not feature within the common causes of hindrances in the conveyancing process. Searches are not likely to be the root cause of slowing down conveyancing in West Thurrock.
I'm purchasing my first flat in West Thurrock with the aid of help to buy. The sellers refused to move on the price so I negotiated £7000 of extras instead. The sale representative told me not to tell my solicitor about the extras as it would affect 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.
New build sellers have suggested I use a conveyancer and I've obtained a quote from them. They are nearly £250 less expensive than my own West Thurrock conveyancing practitioner. Should I use them?
Builders frequently have panels of solicitors who are quick and who know the developer’s contract and lawyer. As many developers offer an incentive to use a preferred solicitor for this reason, any increased charges can be avoided and a developer will not recommend a conveyancing warehouse and run the risk of having the conveyancing stall when they demand an exchange in 28 days. The argument for not agreeing to use the suggested conveyancer is that they may be hesitant to fight for your interests at the risk of alienating the housebuilder. Where you have concerns that this may be the situation you should remain with your high street West Thurrock conveyancer.