Unfortunately I am unable to travel far from Dunchurch. Can you please clarify why all Dunchurch conveyancers are not on all lender panels?
As unjust as it may seem for banks to restrict who can act for them, from the public’s or lawyer’s perspective, the the contrary view is that banks are increasingly anxious and consider it imperative to protect them from mortgage fraud. As a consequence of this concern banks are limiting their panel of approved conveyancing lawyers to a manageable size.
My nephew is buying a house that has just been built in Dunchurch with a mortgage from HSBC. His lawyer has advised him of a delay in receiving 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 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 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 HSBC conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.
When looking at consumer advice sites for a cheap lawyer in Dunchurch, most comment that I must instruct a CQS accredited lawyer. What is CQS?
The Law Society's Conveyancing Quality Scheme is the recognised kitemark for legal experts in home moving process, trusted by some of the UK's leading banks. In 2011-12 the Conveyancing Quality Scheme was officially recognised by the Association of British Insurers (ABI). The scheme does not cover licenced conveyancers. Dunchurch is one of the numerous areas of the UK where there are CQS lawyers.
I am buying a new build house in Dunchurch benefiting from help to buy. The sellers would not budge the amount so I negotiated £7000 of additionals instead. The house builders rep advised me not inform my conveyancer about the deal as it may jeopardize my loan with TSB. Is this normal?.
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.
Yesterday I discovered that there is a flying freehold issue on a property I have offered on a fortnight ago in what was supposed to be a quick, no chain conveyancing. Dunchurch is the location of the property. Is there any guidance you can give?
Flying freeholds in Dunchurch are unusual but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Dunchurch you must be sure that your lawyer goes 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 Dunchurch 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 property.
My brother has urged me to instruct his lawyers for conveyancing in Dunchurch. Should I use them?
Much as we are happy to recommend a Dunchurch conveyancing lawyer the ideal way to choose a conveyancing solicitor is to get recommendations from friends or relatives who have previously instructed the solicitor that you are are thinking of instructing.