My partner and I are purchasing a newly built flat in Birch and Middleton and my solicitor is telling me that she has to the bank to reveal incentives from the developer. I am on a tight deadline to exchange contracts and my preference is not to prolong deal. is my lawyer playing by the book?
You should not exchange unless you have been advised to do so by your property lawyer. A precondition to being on a bank panel is to comply with the UK Finance Lenders’ Handbook conditions. The CML Conveyancing Handbook requires that your lawyer have the appropriate Disclosure of Incentive form completed by the developer and accepted by your lender.
I am close to exchanging contracts on the sale of our house in Birch and Middleton and the buyers lawyers are claiming that there is a possibility that the property was 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 as opposed to a conveyancing solicitor in Birch and Middleton. Having lived in Birch and Middleton for 4 years we know that this is a non issue. Do we get in touch with our local Authority to seek clarification need.
It would appear that you have a conveyancing firm already. What do they say? You must check with 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 life insurance to cover that same sickness)
Just acquired a semi-detached house in Birch and Middleton , What is the estimated time for the Land Registry to register my proprietorship? My Birch and Middleton conveyancing solicitor has been very slow, so I want to check that my ownership is recorded.
There is nothing unique when it comes to conveyancing in Birch and Middleton registration formalities. Rather than based on location, timescales can vary depending on the party submitting the application, whether there are errors and if the Land registry communicate with any interested persons or bodies. As of today roughly three quarters of such applications are completed in less than three weeks but occasionally there can be extensive hold-ups. Registration occurs after the purchaser is living at the property so 'speed' is not always top priority but if there is a degree of urgency associated with the registration then you or your conveyancer can contact the land registry and explain the circumstances.
I'm buying my first flat in Birch and Middleton with the aid of help to buy. The developers would not move on the price so I negotiated £7000 of fixtures and fittings instead. The house builders rep advised me not reveal to my conveyancer about this deal as it will jeopardize my mortgage with the bank. 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.
Yesterday I discovered that there is a flying freehold element on a house I have offered on a fortnight ago in what should have been a straight forward, chain free conveyancing. Birch and Middleton is where the house is located. Is there any guidance you can impart?
Flying freeholds in Birch and Middleton are rare but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Birch and Middleton you would need to get your solicitor to go through the deeds thoroughly. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Birch and Middleton may ascertain 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.