Our son-in-law is purchasing a house that has just been built in Carbis Bay with a mortgage from HSBC. His conveyancer has advised him of a delay in completing 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 engaged in the purchase. Therefore, it will be provided to your son’s lawyer who should be on the HSBC 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 HSBC conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.
My Solicitor in Carbis Bay has never been on on the Barclays Conveyancing Panel. Can I still continue with my prefered solicitor notwithstanding that they are not on the Barclays list of approved lawyers?
The limited options open to you here include:
- Carry on with your preferred Carbis Bay solicitors but Barclays will need to use a lawyer on their list of acceptable firms. This will result in additional total legal fees and result in delays.
- Find a new practitioner to act in the conveyancing, obviously checking they are Convince your conveyancer to use their best endeavours to join the Barclays conveyancing panel
I'm the only recipient of my late grandmother’s estate and I have everything in my name alone, including the house in Carbis Bay. Conveyancing formalities meant that the Land Registry date was in October. I now wish to sell up. I understand that there is a Mortgage Lenders 6 month 'rule', which means that my proprietorship could be treated the same way as if I'd bought the property in October. Do I have to wait 6 months to sell?
The CML handbook mandates conveyancers to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." Technically you could be impacted by that. How practical a view banks take of it, depend on the mortgage company as this provision chiefly exists to capture the purchase and immediately sell or the wholesaling and assigning of properties.
We have agreed to purchase a house in Carbis Bay. An unusual aspect is that the roof has a solar panel. Solicitors conducting should look into this right? Will my lender Santander be concerned?
As your lender is Santander your lawyer must follow the conveyancing requirements contained in Part 2 of UK Finance Lenders’ Handbook for Santander. The CML Handbook includes minimum requirements for solar panel roof-space leases, and conveyancers are required to report to Santander where a lease fails to comply with these specifications. The provisions relate to the installation of panels on properties nationwide and is not limited to Carbis Bay.
I can not work out if my mortgage offer requires a lease extension. I have called my Carbis Bay bank branch on numerous occasions and was advised it wasn't an issue and they will lend. My Carbis Bay conveyancing solicitor - who is on the mortgage company conveyancing panel- called and was told they will not lend in accordance with their published requirements. Who do I believe?
The conveyancing practitioner has to comply with the Council of Mortgage Lenders’ Handbook Part 2 specifications for your bank. Unless your lawyer obtains specific confirmation in writing that the bank will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the bank to contact your lawyer in writing confirming that they will accept the number of years remaining.
What does a local search reveal concerning the house I am purchasing in Carbis Bay?
Carbis Bay conveyancing often commences with the submitting local authority searches directly from your local Authority or via a personal search organisations for instance Onsearch The local search is essential in every Carbis Bay conveyancing purchase; as long as you don’t want any nasty surprises after you move into your property. The search should provide data on, amongst other things, details on planning applications relevant to the premises (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 areas.
I used Stirling Law several years ago for my conveyancing in Carbis Bay. Now, I need my documents however cannot find the solicitor. What do I do?
Do call the Solicitors Regulatory Authority (SRA) to assist in tracking down your conveyancing files. They can be contacted on please contact on 0870 606 2555. Alternatively, you should use their online form to make an enquiry. You will need to provide the SRA with as much information as possible to assist their search, including the name and address in Carbis Bay of the conveyancing firm of solicitors you previously used, the name of conveyancing solicitor with whom you had dealings, and the date on which you last had dealings with the firm.
I am buying a new build house in Carbis Bay with a loan from Chelsea Building Society. The sellers refused to reduce the price so I negotiated 6k of extras instead. The sale representative suggested that I not inform my solicitor about this side-deal as it could impact my mortgage with the lender. Should I keep quiet?.
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.