Our son is about to exchange on a newly built flat in Sawston with a mortgage from Leeds Building Society. His solicitor has said that there is 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 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.
I am helping my niece sell her property in Sawston. Will the conveyancing solicitor arrange the energy assessment or it is for the owner to see to?
After the abolition of HIPs, energy performance certificates was left as a required element of selling a property. An energy assessment should be to hand before the property is placed on the market. It is not a task that lawyers ordinarily arrange. Where you are instructing a Sawston conveyancing solicitor they may be willing to arrange EPC’s given their contacts with reputable local assessors
We had instructed conveyancing lawyers with offices in Sawston on the Yorkshire BS solicitor panel. They are now charging me an additional fee for dealing with the Yorkshire BS mortgage. Is this an additional conveyancing fee specified by Yorkshire BS?
As unfair as it may seem, as long as it’s in their Terms and Conditions or estimate then yes your solicitor is entitled to charge a fee for this. The charge is not dictated by Yorkshire BS but by your Sawston conveyancer. Some firms on the Yorkshire BS panel will charge an ‘acting for lender’ fee and others do not.
We expect to receive a DIP from RBS this week so we can work out what to offer on a property we like as otherwise we are dependent on web based calculators (which aren't taking into account credit checks etc). Do RBS recommend any Sawston solicitors on the RBS conveyancing panel, or is it better to find our own lawyer?
You will need to appoint Sawston solicitors independently although you'll need to choose one on the RBS conveyancing panel. The solicitor represents both you and RBS through the process.
I require fast conveyancing in Sawston as I am under a deadline to complete within 3 weeks. Fortunately I do not require a mortgage. Is it possible to decline from having conveyancing searches to save fees and time?
As you are not getting a home loan you have the choice not to do searches although no lawyer would recommend that you don't. Drawing on years of experience of conveyancing in Sawston the following are instances of what can show up and adversely affect future mortgageability: Enforcement Actions, Outstanding Fees, Outstanding Grants, Unadopted Roads,...
I'm buying a new build house in Sawston with a loan from Barclays . The builders would not move on the amount so I negotiated 6k of extras instead. The property agent advised me not inform my solicitor about the deal as it may jeopardize my loan with Barclays . 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.
I've recently found out that there is a flying freehold issue on a house I put an offer in a fortnight ago in what was supposed to be a straight forward, no chain conveyancing. Sawston is the location of the property. Can you shed any light on this issue?
Flying freeholds in Sawston are rare but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Sawston you would need to get your solicitor to go through the deeds very carefully. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Sawston may decide 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.
Am I best advised to go with a Sawston conveyancing practitioner based in the vicinity that I am purchasing? An old friend can handle the conveyancing however her office is a couple of hundredkilometers drive away.
The benefit of a local Sawston conveyancing practice is that you can visit the firm to execute documents, present your identification documents and apply pressure on them if necessary. Having local Sawston know how is a benefit. That being said it's more important to get someone that will do a good and efficient job. If other friends have instructed your friend and on the whole were content that should trump using an unfamiliar Sawston conveyancing lawyer just because they are based in the area.