My wife and I are acquiring a brand new apartment in Dunholme and my solicitor is informing me that she has to the mortgage company to reveal incentives from the builder. I am under pressure to exchange and I have no desire to prolong the conveyancing. is my lawyer playing by the book?
You should not exchange unless you have been advised to do so by your solicitor. A precondition to being on a mortgage company panel is to comply with the UK Finance Lenders’ Handbook conditions. The CML Conveyancing Handbook requires that your lawyer have the appropriate Disclosure of Incentive form completed by the developer and accepted by your lender.
We are purchasing a property and need a conveyancing solicitor in Dunholme who is on the Leeds Building Society conveyancing panel. Could you point me in the right direction as regards a conveyancing firm?
Our service is limited to being a directory service for firms who wish to be listed as being on the approved conveyancing panel for Leeds Building Society . We don't recommend any particular firms conducting conveyancing in Dunholme.
I am purchasing a new build house in Dunholme benefiting from help to buy. The sellers refused to move on the price so I negotiated five thousand pounds worth of fixtures and fittings instead. The house builders rep suggested that I not reveal to my lawyer about the side-deal as it would adversely affect my loan with Clydesdale. 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.
I decided to have a survey carried out on a house in Dunholme in advance of instructing conveyancers. I have been told that there is a flying freehold element to the house. The surveyor has said that some mortgage companies tend refuse to give a mortgage on a flying freehold premises.
It varies from the lender to lender. HSBC has different instructions from Birmingham Midshires. If you contact us we can investigate further with the relevant lender. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Dunholme. Conveyancing will be smoother if you use a solicitor in Dunholme especially if they are familiar with such properties in Dunholme.
Am I best advised to use a Dunholme conveyancing lawyer in close proximity to the house I am purchasing? We have a good friend who can execute the legal work however her office is over three hundred kilometers drive away.
The benefit of a high street Dunholme conveyancing firm is that you can attend the office to execute paperwork, hand in your ID and pester them if necessary. They will also have local insight which is a bonus. However it's more important to get someone that will pull out all the stops for you. If if people you trust instructed your friend and on the whole were happy that must outweigh using an unknown Dunholme conveyancing lawyer just because they are round the corner.
My husband and I hope to buy our 1st home in Dunholme. Conveyancing lawyer already chosen. The financial consultant pointed out that a survey is not necessary as the property was only built 22 years ago.
You would be well advised to undertake a Home Buyer's Report. As the residence was built over a decade ago the property will be without a warranty, so you don't want to take a risk. For a property that age with no signs of problems a Home Buyer's report may be enough. They will highlight any apparent issues and suggest additional investigation if appropriate. If there are any indications of material issues get a full Building Survey from the beginning.