Our nephew is in the process of securing a house that has just been built in Sowerby Bridge with a mortgage from Leeds Building Society. His solicitor has said that there is a delay in completing the ‘Disclosure of Incentive Form’. What is this document - I have never come across this before?
The form is intended to provide information to the main parties engaged in the transaction. 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 valuer 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.
Will conveyancers request money up-front when it comes to conveyancing in Sowerby Bridge?
If you are buying a property in Sowerby Bridge your solicitor will request that you place them with monies to cover the the cost of the conveyancing searches. This will be the total of the cost of the conveyancing searches. If any deposit is as part of the total price then this should be asked for immediately ahead of exchange of contracts. The closing balance that is due will be payable a few days ahead of the day of completion.
I am buying a 3 bedroom semi in Sowerby Bridge. We would like to convert the garage to a playroom at the property.Will the conveyancing process involve checks to determine if these alterations are prohibited?
Your property lawyer should review the deeds as conveyancing in Sowerby Bridge will occasionally reveal restrictions in the title deeds which prevent categories of alterations or necessitated the permission of a 3rd party. Certain extensions need local authority planning permissions and approval in accordance building regulations. Many locations are designated conservation areas and special planning restrictions apply which often prevent or impact extensions. It would be sensible to check these issues with a surveyor ahead of any purchase.
I'm the sole beneficiary of my late grandmother’s will and I have everything in my name now, including the my former home in Sowerby Bridge. Conveyancing formalities meant that the Land Registry date was in November. I plan to dispose of the house. I understand that there is a Mortgage Lenders 6 month 'rule', which means that my proprietorship could be regarded the same way as though I had purchased the house in November. Do I have to wait half a year to sell?
The Council of Mortgage Lenders’ handbook requires solicitors to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." Technically you could be impacted by that. How practical a view lenders take of it, depend on the mortgage company as this provision chiefly exists to pick up on subsales or the wholesaling and assigning of properties.
I have decided to exercise my right to buy my property in Sowerby Bridge off the council. I have a mortgage agreed with TSB. Conveyancing is new to me. Can I proceed without a solicitor easily? I think we can but we keep being told I should use one. Any advice?
It is not advisable to proceed with a house purchase without a solicitor. The council's solicitor are not acting for you. You need a solicitor for a number reasons. One of which is to verify what plans the Council have for repairs and refurbishment for the next five years. Many leaseholders have been stung for contributions of thousands of pounds. In any event, if you are getting a mortgage with TSB, you will need to appoint a solicitor on the TSB conveyancing panel.
I am selling our house in Sowerby Bridge and the buyers lawyers are claiming that there is a risk of it being built on contaminated land. A local lawyer would know this is not the case. For the life of me I don't know why the purchasers used an online conveyancing firm rather than a conveyancing solicitor in Sowerby Bridge. Having lived in Sowerby Bridge for six years we know that this is a non issue. Is it a good idea to get in touch with our local Authority to obtain clarification that the buyers are looking for.
It sounds as though you may have a conveyancing solicitor currently acting for you. What do they say? You should enquire of your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out health insurance to cover that same ailment)
I am buying a new build house in Sowerby Bridge benefiting from help to buy. The developers would not reduce the price so I negotiated five thousand pounds worth of fixtures and fittings instead. The house builders rep suggested that I not to tell my lawyer about this side-deal as it will affect my loan with the lender. 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 property I have offered on a fortnight ago in what should have been a straight forward, chain free conveyancing. Sowerby Bridge is where the house is located. Can you offer any assistance?
Flying freeholds in Sowerby Bridge are not the norm but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Sowerby Bridge you would need to get your solicitor to go through the deeds diligently. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Sowerby Bridge 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 property.