Our nephew is about to exchange on a house that has just been built in Cringleford with a mortgage from Leeds Building Society. His solicitor 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 form is intended to provide information to the main parties involved in the transaction. Therefore, it will be provided to your son’s lawyer who should be on the Leeds Building Society 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 Leeds Building Society conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.
Finally the sale completed on my house in Cringleford last July but our buyer keeps texting every few hours to say his solicitor is waiting to hear from mysolicitor. What are the post completion sale formalities following completion?
After completion of your house sale your lawyer is committed to deliver the transfer deeds and all supplemental paperwork to the buyer’s lawyers. If applicable, your lawyer should also confirm that the legal charge in favour of the lender has been discharged to the buyers solicitors. There is unlikely to be post completion requirements peculiar conveyancing in Cringleford.
I am assisting my aunt sell her property in Cringleford. Will the conveyancer arrange an EPC or it is for me to see to?
After the abolition of Home Packs, EPC’s was maintained a mandatory component of moving property. An energy performance certificate must be commissioned before the property is advertised. It is not something that conveyancers ordinarily organise. Where you are using a Cringleford conveyancing solicitor they might be willing to arrange EPC’s given their relationships with long established local energy assessors
We have a mortgage agreed in principle with HSBC. Cringleford conveyancing solicitors were selected. What is the average time that one could expect to receive a mortgage offer from HSBC?
Some lenders take longer than others. Have HSBC conducted the survey? Have you advised HSBC as to your lawyers' details and checked that your lawyers are on the HSBC conveyancing panel? Sometimes it can take as long as six weeks for a mortgage offer to be issued.
I am expecting a AIP from Yorkshire BS this week so we can work out what to offer on a property we like as otherwise we only have online calculators to go by (which aren't taking into account credit checks etc). Do Yorkshire BS recommend any Cringleford solicitors on the Yorkshire BS conveyancing panel, or is it better to go independently?
You will need to appoint Cringleford solicitors independently although you'll need to choose one on the Yorkshire BS conveyancing panel. The solicitor represents both you and Yorkshire BS through the process.
I am purchasing a new build house in Cringleford benefiting from help to buy. The builders would not budge the amount so I negotiated £7000 of additionals instead. The house builders rep advised me not inform my lawyer about the side-deal as it will jeopardize my mortgage with Bank of Scotland. 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.
Yesterday I discovered that there is a flying freehold issue on a house I have offered on last month in what was supposed to be a straight forward, chain free conveyancing. Cringleford is where the house is located. Can you offer any guidance?
Flying freeholds in Cringleford are not the norm but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Cringleford you must be sure that your lawyer goes through the deeds thoroughly. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Cringleford may ascertain 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 premises.
I am using a search engine for the phrase conveyancing in Cringleford it shows results of numerous conveyancersin the vicinity. How do I determine which is the right conveyancing solicitor for me?
The best way of seeking the right conveyancer is via trusted recommendation, so enquire of friends and relatives who have purchased a property in Cringleford or a reputable estate agent or financial adviser. Charges for conveyancing in Cringleford differ, so it's a good idea to request a minimum of four fee estimates from different law firms. Dont forget to clarify that the charges are guaranteed not to escalate.