I am acquiring a newly constructed duplex in Crawley and my conveyancer is informing me that she is duty bound to the bank to reveal incentives from the developer. I am nearing the developer’s deadline to exchange and I don't want to prolong deal. Is my lawyer right?
You should not exchange unless you have been advised to do so by your conveyancing practitioner. A precondition to being on a mortgage company 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.
I have been told that property searches are the primary cause of delay in Crawley house deals. Is there any truth in this?
The Council of Property Search Organisations (CoPSO) released findings of research by MoveWithUs that conveyancing searches do not figure amongst the most frequent causes of delays during the legal transfer of property. Searches are not likely to be the root cause of holding up conveyancing in Crawley.
I am buying a new build apartment in Crawley. 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 conveyancing.
Set out below is a sample of a few leasehold new build enquiries that you may expect your new-build leasehold conveyancing in Crawley
Forfeiture - bankruptcy or liquidation must not apply under this provision. The Vendor must covenant to keep unoccupied units in good repair until long leases are granted therefore. Where there is an Undertaking being granted there is the risk of forfeiture of the Headlease subject to relief if one or more of the Underlessees are willing to accept the original Head Lessee’s obligations as otherwise relief will be denied to the Underlessees. The only alternatives are the Head Lessor agreeing not to forfeit the Headlease or the Head Lessee guaranteeing to the Underlessees that it will not be in breach of the Headlease. Where service of notices and proceedings can be at the property demised please confirm that this can be amended to include simultaneous services at the Lessees’ solicitors’ offices where the Lessee from time to time is not resident in the UK - such solicitors may be varied by notice in writing to the Landlord from time to time but otherwise will be as previously specified. Please confirm the Lease plans are architect prepared.
I decided to have a survey carried out on a house in Crawley in advance of retaining conveyancers. I have been informed that there is a flying freehold overhang to the house. The surveyor advised that some lenders may refuse to grant a loan on a flying freehold premises.
It varies from the lender to lender. HSBC has different requirements for example to Halifax. If you contact us we can check via the appropriate lender. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Crawley. Conveyancing will be smoother if you use a solicitor in Crawley especially if they are familiar with such properties in Crawley.
Should I be wary about 3rd parties that I am dealing with are encouraging me to use a web based conveyancing firm rather than a High Street Crawley conveyancing firm?
As with many professional services, often suggestions from connections can be worth their weight in gold. Nevertheless there are many players in a conveyancing transaction; estate agents, financial adviser and mortgage companies might all recommend conveyancers to retain. On occasion the conveyancers might be known to one of the organisations as experts in their field, but sometimes there behind the scenes financial incentive behind the endorsement. You have the right to choose your own conveyancer. However, bear in mind that some mortgage providers specify a panel list of law firms you must use for the mortgage related work in your house move.