My nephew is in the process of securing a new build apartment in Cheetham Hill with a home loan from Nottingham. His lawyer has said that there is a delay in completing the ‘Disclosure of Incentive Form’. Who needs to receive the form?
The document 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 Nottingham conveyancing panel as a standard part of the process, and to the surveyor 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 Nottingham conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.
I have been told that property searches are the main reason for delay in Cheetham Hill house deals. Is that correct?
The Council of Property Search Organisations (CoPSO) published findings of research by MoveWithUs that conveyancing searches do not figure within the common causes of hindrances during the legal transfer of property. Local searches are unlikely to feature in any delay in conveyancing in Cheetham Hill.
Due to the encouragement of my in-laws I had a survey completed on a property in Cheetham Hill before appointing lawyers. I have been told that there is a flying freehold aspect to the property. My surveyor advised that some mortgage companies tend not issue a mortgage on this type of home.
It depends who your proposed lender is. Lloyds has different instructions for example to Nationwide. If you e-mail us we can investigate further via the relevant mortgage company. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Cheetham Hill. Conveyancing may be slightly more expensive based on your lender's requirements.
Should I be concerned that third parties that I am dealing with are suggesting a factory type conveyancing firm rather than a local Cheetham Hill conveyancing company?
As is the case with many professional services, often input from connections can be worth their weight in gold. Yet there are many parties with a vested interest in a conveyancing deal; estate agents, mortgage brokers and banks may suggest solicitors to appoint. Sometimes these lawyers might be known to one of the organisations as being good in their field, but occasionally there is an underlying financial incentive behind the endorsement. You have the right to appoint your own conveyancer. Don't forget that most banks have an approved list of solicitors you are obliged to use for the lender aspect of your home move.
Whilst your website is a good idea there are many lawyers listed near Cheetham Hill being on the lender conveyancing panel. Can you recommend a specific firm on the mortgage company approved panel?
We are not in the business of recommending one firm above another as the right Cheetham Hill conveyancing solicitor for you depends on where your priorities lie. For example you may require a local firm with Cheetham Hill knowledge or you might be looking for the low cost conveyancing. We recommend that you speak to 3 or 4 lawyers listed before you make your choice..