Our god-son is buying a house that has just been built in Seaford with a home loan from Skipton. His lawyer has said that there is a delay in completing the ‘Disclosure of Incentive Form’. Who needs to receive the form?
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 Skipton 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 Skipton conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.
A relative advised me that in buying a property in Seaford there could be various restrictions limiting what one can do in terms of external changes to a property. Is this right?
There are a number of properties in Seaford which have some sort of restriction or requirement of consent to carry out external variations. Part of the conveyancing in Seaford should determine what restrictions are applicable and advising you as part of a ROT that should be sent to you.
The formalities of my purchase has taken place for my property in Seaford. Conveyancing was satisfactory but I feel I should register my dissatisfaction about the lender. How do I make a complaint?
Most banks and building societies have complaints procedures. Your first point of contact should be one of the lender’s branches or the Customer Services Team at head office. Ordinarily complaints to a lender are sorted out very quickly. However if you are not satisfied that the matter is not resolved you can write to Financial Ombudsman Service with full details of your complaint.
I had an offer accepted on a house in Seaford on 8/10/2024, valuation was booked five days later, received a clean bill of health. Property lawyer appointed, so all that was missing was my mortgage offer. Having made daily calls to Nottingham and chasing them on my offer, I have now been told that my offer will not be issued unless the lawyer is on the Nottingham conveyancing panel. Are Nottingham entitled to hold back the Mortgage pending the lawyer being on the approved list?
A lender would not issue an offer until they have details of a lawyer on their panel. It can take a few weeks for Nottingham to deal with your lawyer's application to be on the Nottingham conveyancing panel. There's no guarantee that your solicitor will be accepted.
It has been five months since my purchase conveyancing in Seaford completed. I have checked the Land Registry site which shows that I paid £150,000 when infact I paid £170,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the premises from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
I'm purchasing my first flat in Seaford with a mortgage from HSBC Bank. The sellers refused to move on the amount so I negotiated five thousand pounds worth of extras instead. The estate agent advised me not inform my solicitor about this extras as it may jeopardize my loan with HSBC Bank. 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.
Yesterday I discovered that there is a flying freehold element on a house I have offered on a fortnight ago in what was supposed to be a straight forward, no chain conveyancing. Seaford is the location of the property. Can you shed any light on this issue?
Flying freeholds in Seaford are rare but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Seaford you must be sure that your lawyer goes through the deeds thoroughly. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Seaford may determine 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 residence.
Am I better off to instruct a Seaford conveyancing practitioner who is local to the property I am hoping to buy? We have a good friend who can perform the conveyancing but her office is over three hundred miles drive away.
The benefit of a high street Seaford conveyancing firm is that you can visit the firm to sign documents, present your ID and apply pressure on them if necessary. They will also have local intelligence which is a bonus. However it's more important to get someone that will do a good and efficient job. If you know people who used your friend and they were content that must outweigh using an unknown Seaford conveyancing solicitor just because they are based in the area.