We are acquiring a new build duplex in Colyton and my conveyancer is telling me that she has to the bank to reveal incentives from the builder. I am nearing the developer’s deadline to exchange contracts and I have no desire to delay deal. is my lawyer playing by the book?
You should not exchange unless you have been advised to do so by your conveyancer. A precondition to being on a lender panel is to comply with the UK Finance Lenders’ Handbook provisions. The CML Conveyancing Handbook requires that your lawyer have the appropriate Disclosure of Incentive form completed by the developer and accepted by your lender.
The Colyton conveyancing lawyers that I recently instructed on my house acquisition in Colyton have suddenly closed. I only went with them because I needed a lawyer on the Bank of Ireland conveyancing panel and my family Colyton lawyer was not. I gave my credit card details for them to take £195 for searches. What are my options?
If you have an estate agent involved then let them know immediately so that they can let the sellers know that there may be a slight delay due to the problems encountered. Most sellers would be sympathetic and urge their lawyer to send a new set of papers to your new solicitors. You will need to appoint new lawyers that are on the Bank of Ireland conveyancing panel and notify the lender. If you have paid over any money, it will hopefully be held by the SRA as money in an intervened firm's bank accounts is transferred to the SRA. Then, the SRA or the intervention agent looks at the intervened firm's accounts to work out who the money belongs to. To claim your money you will need to contact the SRA. If the SRA cannot return money you are owed from the firm's bank accounts, or if they can only return part of the money, you can apply to the Compensation Fund for a grant. Your new solicitors should be in a position to help.
It has been three months since my purchase conveyancing in Colyton completed. I have checked the Land Registry website which shows that I paid £150,000 when infact I paid £180,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the premises from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
I've recently found out that there is a flying freehold element on a house I have offered on last month in what was supposed to be a simple, chain free conveyancing. Colyton is the location of the property. What do you suggest?
Flying freeholds in Colyton are unusual but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Colyton you must be sure that your lawyer goes through the deeds very carefully. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Colyton may determine 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 premises.
My father-in-law has recommend that I appoint his lawyers for conveyancing in Colyton. Should I use them?
There are no two ways about it the best way to find a conveyancing practitioner is to get guidance from friends or relatives who have used the firm you're are thinking of instructing.