I am purchasing a newly built flat in Colwyn Bay and my solicitor is informing me that she is duty bound to the bank to reveal incentives from the seller. I am under pressure to exchange contracts and I have no desire to prolong deal. is my lawyer playing by the book?
You should not exchange unless you have been advised to do so by your lawyer. 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.
About to purchase a new build flat in Colwyn Bay. Conveyancing is daunting at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build legal work.
Here are examples of a few leasehold new build questions that you can expect your new-build leasehold conveyancing in Colwyn Bay
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Forfeiture - bankruptcy or liquidation must not apply under this provision. Please provide evidence that the form of Lease proposed has been approved by the Land Registry. There must be mutual enforceability of lessee’s covenants. If there are lifts in the building, please confirm that the owners of flats on the ground and basement floors will not be required to contribute towards the cost of maintenance and renewal. The Vendor must covenant to keep unsold units in good repair until long leases are granted therefore.
Due to the advice of my in-laws I had a survey completed on a house in Colwyn Bay prior to instructing solicitors. I have been advised that there is a flying freehold overhang to the house. Our surveyor has said that some banks may not grant a mortgage on a flying freehold home.
It depends who your proposed lender is. HSBC has different instructions for example to Birmingham Midshires. Should you wish to call us we can check with the appropriate mortgage company. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Colwyn Bay. Conveyancing will be smoother if you use a solicitor in Colwyn Bay especially if they are familiar with such properties in Colwyn Bay.
I am a sole trader looking to lease a unit on the high street. Can you recommend lawyers offering no-sale-no charges for non-domestic conveyancing in Colwyn Bay for under 2k?
We can recommend firms who have an in-depth of experience of commercial conveyancing in Colwyn Bay, including the disposal and acquisition of businesses as well as simply property. Whether you are intending to buy or sell a shop, pub, restaurant, office, retail premises or a complete business we can put you in touch with the right firm. Regarding the charges this will depend on the structure and complexity of the proposed transaction. Please provide us with your details or telephone us so that we can provide you with a fixed commercial conveyancing quote.
Are there any apps to help search for a Colwyn Bay conveyancing solicitor on the mortgage company conveyancing panel? I have a car and am prepared to travel up to twentymiles to meet the solicitor.
You can use the find a conveyancing panel tool on this website. Please choose the lender and your location, in this case Colwyn Bay and you will see a number of lawyer located nearest Colwyn Bay. 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.