Our grandson is purchasing a new build apartment in Callington with a home loan from Lloyds. His conveyancer 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 document is intended to provide information to the main parties involved in the purchase. Therefore, it will be provided to your son’s lawyer who should be on the Lloyds conveyancing panel as a standard part of the process, and to the surveyor 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 Lloyds conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.
It is 10 years ago since I bought my house in Callington. Conveyancing lawyers have now been appointed on the sale but I am unable to find the title documents. Is this a major issue?
Don’t worry too much. First the deeds may be kept by the mortgage company or they may still be with the solicitor who acted in the purchase. Secondly the likelihood is that the land will be recorded at the land registry and you will be able to establish that you own the property by your conveyancing solicitors acquiring current official copies of the land registers. Most conveyancing in Callington relates to registered property but in the unlikely event that your property is unregistered it adds to the complexity but is not insurmountable.
Having invested time reviewing consumer advice sites for a cheap solicitor in Callington, most advise that I should use a CQS assured lawyer. What is CQS?
Callington Conveyancing Quality Scheme solicitors have achieved accreditation by the law Society The Law Society created CQS to establish evidence of quality standards in the in the legal transfer of properties. CQS enables home movers to identify solicitor firms who provide a quality residential conveyancing. Callington is one of the many areas in England and Wales in which CQS are located. The conveyancing scheme obliges law firms to undergo a strict assessment, compulsory training, self-reporting, spot checks and annual reviews in order to maintain CQS status. It is available to solicitors and not licensed conveyancers and has the support of the Association of British Insurers.
I am purchasing my first flat in Callington with a mortgage from Nationwide Building Society. The builders refused to move on the amount so I negotiated 6k of fixtures and fittings instead. The house builders rep suggested that I not to tell my lawyer about the side-deal as it will impact my loan with the bank. Should I keep quiet?.
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.
I decided to have a survey done on a property in Callington in advance of appointing conveyancers. I have been advised that there is a flying freehold element to the house. My surveyor has said that some lenders will refuse to grant a mortgage on this type of property.
It varies from the lender to lender. Lloyds has different requirements for example to Nationwide. If you contact us we can look into this further with the appropriate lender. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Callington. Conveyancing may be slightly more expensive based on your lender's requirements.
In what way can the Landlord & Tenant Act 1954 impact my business property in Callington and how can your lawyers assist?
The particular law that you refer to affords a safeguard to business lessees, granting the right to apply to court for a continuation of occupancy at the end of an expired lease. There are limited grounds that a landlord can refuse a lease renewal and the rules are involved. We are happy to direct you to commercial conveyancing firms who use the act to your advantage and handle your commercial conveyancing in Callington