My wife and I are purchasing a newly built flat in Blackley and my solicitor is advising me that she has to the mortgage company to reveal incentives from the developer. I am on a tight deadline to sign contracts and I would rather not prolong deal. is my lawyer playing by the book?
You should not exchange unless you have been advised to do so by your conveyancing practitioner. A precondition to being on a lender panel is to comply with the UK Finance Lenders’ Handbook requirements. The CML Conveyancing Handbook requires that your lawyer have the appropriate Disclosure of Incentive form completed by the developer and accepted by your lender.
Are there restrictive covenants that are commonly identified during conveyancing in Blackley?
Restrictive covenants can be picked up when reviewing land registry title as part of the legal transfer of property in Blackley. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
Over the last few months I have been searching for a leasehold apartment up to £305k and identified one round the corner in Blackley I like with amenity areas and railway links in the vicinity, however it only has 52 years unexpired on the lease. I can't really find anything else in Blackley suitable, so just wondered if I would be making a grave error acquiring a lease with such few years left?
Should you need a mortgage the remaining unexpired lease term will be an issue. Reduce the price by the anticipated lease extension will cost if it has not already been discounted. If the current owner has owned the premises for at least twenty four months you could request that they commence the lease extension formalities and pass it to you. You can add 90 years to the existing lease and have £0 ground rent by law. You should speak to your conveyancing solicitor regarding this matter.
My husband and I are first time buyers - agreed a price, but the selling agent has warned us that the seller will only go ahead if we use the agent's chosen solicitors as they need a ‘quick sale’. Our preferred option is to instruct a local conveyancer with experience of conveyancing in Blackley
We suspect that the owner is unaware of this requirement. Should the owner desire ‘a quick sale', alienating a genuine buyer is going to damage their objectives. Speak to the owners direct and make the point that (a)you are motivated buyers (b)you are excited to move forward, with mortgage lined up © you are unencumbered (d) you intend to proceed fast (e)but you are going to use your own,trusted Blackley conveyancing lawyers - as opposed tothe ones that will provide the negotiator at the agency a referral fee or achieve conveyancing figures demanded by corporate headquarters.
What tools are available to find a Blackley conveyancing solicitor on the lender conveyancing panel? I have a car and am prepared to travel up to 25miles to attend the lawyer.
Feel free to make use of the find a conveyancing panel tool on this website. Please choose the lender and your location, in this case Blackley and you will see a number of lawyer located nearest Blackley. Alternatively you can type in the name of your proposed law firm and see if they are listed as being on the mortgage company solicitor panel.