My husband and I are purchasing a brand new apartment in Burnham and my conveyancer is telling me that she has to the bank to disclose incentives from the seller. I am nearing the developer’s deadline to exchange contracts and I would rather not prolong matters. Is my lawyer right?
You should not exchange unless you have been advised to do so by your lawyer. A precondition to being on a mortgage company panel is to comply with the UK Finance Lenders’ Handbook conditions. The CML Conveyancing Handbook requires that your lawyer have the appropriate Disclosure of Incentive form completed by the developer and accepted by your lender.
I am looking to buy a property and need a conveyancing solicitor in Burnham who is on the Godiva Mortgages Ltd conveyancing. Could you point me in the right direction as regards a firm?
Our service is limited to being a directory service for firms who wish to listed as being on the approved conveyancing panel for Godiva Mortgages Ltd in certain locations such as Burnham. We dont recommend any particular firm.
What does a local search reveal regarding the house I am purchasing in Burnham?
Burnham conveyancing often starts with the applying for local authority searches directly from your local Authority or via a personal search organisations for instance Searchflow The local search plays a central role in most Burnham conveyancing purchase; that is if you don’t want any nasty once you have moved into your property. The search should provide data on, amongst other things, details on planning applications applicable to the property (whether granted or refused), building control history, any enforcement action, restrictions on permitted development, nearby road schemes, contaminated land and radon gas; in all a total of thirteen topic sections.
I am buying a new build house in Burnham with the aid of help to buy. The developers refused to budge the amount so I negotiated five thousand pounds worth of extras instead. The sale representative told me not to tell my solicitor about the extras as it may adversely affect my loan with Birmingham Midshires. 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've recently found out that there is a flying freehold issue on a house I put an offer in a fortnight ago in what was supposed to be a simple, no chain conveyancing. Burnham is where the house is located. What do you suggest?
Flying freeholds in Burnham are not the norm but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Burnham you would need to get your solicitor to go through the deeds very carefully. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Burnham may decide that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold property.
Is planning permission required to convert a house into two flats in Burnham? This has been done to a house opposite to my home in Burnham and was ignorant of the conversion until it was done.
Planning consent is required for splitting a single house in Burnham into apartments but probably not for reverting back to single dwelling-house so, simply put, yes,a it is required.