Our son-in-law is purchasing a newly built flat in Cotham with a home loan from Kent Reliance. His solicitor has said that there is a delay in completing the ‘Disclosure of Incentive Form’. What is this document - I have never come across this before?
The form is intended to provide information to the main parties engaged in the transaction. Therefore, it will be provided to your son’s lawyer who should be on the Kent Reliance 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 Kent Reliance conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.
Are all Cotham Conveyancing Quality Solicitors on the HSBC conveyancing list of approved firms?
Some major lenders now utilise CQS as the starting point for Panel membership such as HSBC and Santander. CQS accreditation however is no guarantee to lender panel acceptance. Nevertheless,the Council of Mortgage Lenders have indicated that it is likely to become a pre-requisite for firms wishing to join their approved list of firms.
The formalities of my remortgage has taken place for my property in Cotham. Conveyancing was of an acceptable standard but I feel I should register my dissatisfaction about the lender. How does one go about formally complaining?
Most banks and building societies have complaints procedures. Your first point of contact should be one of the lender’s branches or the Customer Care Department at head office. We understand that complaints to a lender are sorted out very quickly. However if you are not satisfied that the matter is not resolved you can write to Financial Ombudsman Service who will take matters further.
My sealed bid on a detached house in Cotham has been accepted, the owners do nevertheless have a tied purchase. The vendors have put an offer on on an apartment, but it’s not yet tied up, and have viewings of other flats in the pipeline. I have instructed a nearby conveyancing solicitor in Cotham. What should be my next step? When do I get the mortgage application with UBS going?
It is usual to have anxieties where there is a chain as you are unlikely to want to incur expenses too early (home loan application is approx one thousand pounds, then valuation, Cotham conveyancing search fees, etc). The first thing to do is ensure that your solicitor is on the UBS conveyancing panel. Regarding the next steps this very much depends on the uniqueness of your transaction, attraction to this property and on the state of the market. During a rising market many home buyers would apply for the mortgage with UBS and pay for the valuation and only if it was satisfactory would they ask their conveyancer to proceed with searches.
Various web forums that I have frequented warn that are the main cause of hinderance in Cotham conveyancing transactions. Is this right?
The Council of Property Search Organisations (CoPSO) published determinations of a review by MoveWithUs that conveyancing searches do not figure within the common causes of delays during the legal transfer of property. Searches are unlikely to feature in any holding up conveyancing in Cotham.
Due to the input of my in-laws I had a survey completed on a property in Cotham in advance of appointing solicitors. I have been informed that there is a flying freehold aspect to the house. My surveyor advised that some lenders may not issue a loan on a flying freehold house.
It depends who your proposed lender is. Santander has different requirements for example to Birmingham Midshires. If you call us we can investigate further via the appropriate mortgage company. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Cotham. Conveyancing may be slightly more expensive based on your lender's requirements.
Hoping to buy a property located in Cotham and I am already nervous. I couldn't find anything specific about Cotham. Conveyancing will be needed in due course but do you know about the Cotham area? or perhaps some other tips you can share?
Rather than looking online forget looking online you should go and have a look at Cotham. In the meantime here are some basic statistics that we found
Our conveyancing in Cotham completes on Friday, however the vendors I am purchasing off wishes to vacate the next day at midday. Can I accept such a plan?
Where you are having a loan then your conveyancing practitioner will insist that the property isvacant on Friday - the mortgage company will insist on it.