My nephew is purchasing a newly built flat in Silsoe with a home loan from Barclays. His conveyancer has advised him of 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 purchase. Therefore, it will be provided to your son’s lawyer who should be on the Barclays 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 Barclays conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.
Do I need to attend the offices of the solicitor to execute the legal charge? If so, I will instruct a firm who offer conveyancing in Silsoe so that I can pop in to their offices if required.
Nowadays approved lawyers for mortgage companies undertake their communications through Royal Mail, internet or over phone calls. This enables them to undertake the conveyancing transaction regardless of where you live in the country. However you should see if you can still book an appointment to visit conveyancing lawyer if you prefer.
I'm purchasing my first flat in Silsoe with the aid of help to buy. The sellers refused to reduce the price so I negotiated £7000 of fixtures and fittings instead. The property agent advised me not inform my conveyancer about the side-deal as it may jeopardize my loan with the lender. Is this normal?.
All lenders require a Disclosure of Incentives Form from the builder 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.
How can the Landlord & Tenant Act 1954 impact my business offices in Silsoe and how can you help?
The 1954 Act gives a safeguard to commercial leaseholders, granting the dueness to make a request to court for a continuation of occupancy when the lease comes to an end. There are limited grounds that a landlord can refuse a lease renewal and the rules are complex. We are happy to direct you to commercial conveyancing firms who use the act for protection and assist with commercial conveyancing in Silsoe
Our financial adviser has recommended their lawyer for the conveyancing in Silsoe - won’t it be advisable to just instruct them?
This is not necessarily the case and you are entitled to opt for whichever conveyancer you decide for your Silsoe conveyancing. The conveyancer suggested by a 3rd party adviser may not necessarily be the right conveyancer, they may recommend their preferred conveyancing firm who are based remotely. In this instance you may not have contact with your conveyancing practitioner and due to the lack of continuity in the transaction, it may be difficult to obtain progress reports.