My grandson is buying a newly built flat in Machen with a home loan from Virgin Money. His conveyancer 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 purchase. Therefore, it will be provided to your son’s lawyer who should be on the Virgin Money conveyancing panel as a standard part of the process, and to the valuer 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 Virgin Money conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.
My husband and I wish to acquire a 2 bedroom apartment in Machen with a loan from Norwich and Peterborough Building Society.We have a Machen conveyancing practitioner but Norwich and Peterborough Building Society says her practice is not on their approved list of firms. It seems we have no choice but to instruct a Norwich and Peterborough Building Society panel solicitor or retain our high street solicitor and pay for one of their panel ones to act for them. This seems very unfair; Can we not simply insist that Norwich and Peterborough Building Society use our lawyer?
Unfortunately,no. The mortgage offered to you is subject to its various provisions, a common one being that solicitors must be on the Norwich and Peterborough Building Society approved list. Until recently, most lenders had large numbers of law firms on their panels: a borrower could choose one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. Another option that might be available is for your lawyer to apply to be on the conveyancing panel for Norwich and Peterborough Building Society
I used Wolstenholmes several years past for my conveyancing in Machen. I now require my papers but cannot find the solicitor. What do I do?
You should 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 Machen of the conveyancing firm of solicitors you previously instructed, the name of conveyancing solicitor with whom you had dealings, and the date on which you last had dealings with the firm.
I am purchasing my first flat in Machen with the aid of help to buy. The builders would not reduce the price so I negotiated five thousand pounds worth of extras instead. The sale representative advised me not inform my lawyer about the side-deal as it may affect my mortgage with Bank of Scotland. 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 opted to have a survey done on a house in Machen in advance of retaining lawyers. I have been advised that there is a flying freehold element to the house. Our surveyor advised that some mortgage companies will refuse to give a loan on such a premises.
It varies from the lender to lender. HSBC has different requirements for example to Halifax. If you call us we can check with the appropriate mortgage company. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Machen. Conveyancing may be slightly more expensive based on your lender's requirements.
Is there anything unique about your site and other online quote calculators when it comes to conveyancing in Machen?
At this site obtain a conveyancing costs illustration from a Solicitor or Licensed Conveyancer that understands the nuances of your conveyancing in Machen. Unlike many estate agents and brokerage sites we do not charge firms a fee if you choose them for your conveyancing in Machen