My wife and I are buying a brand new duplex in Cwmcarn and my conveyancer is advising me that she has to the bank to reveal incentives from the seller. I am nearing the developer’s deadline to sign contracts and my preference is not to prolong matters. Is my lawyer right?
You should not exchange unless you have been advised to do so by your property lawyer. A precondition to being on a mortgage company 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.
Will our lawyer be raising enquiries about flooding during the conveyancing in Cwmcarn.
The risk of flooding is if increasing concern for conveyancers dealing with homes in Cwmcarn. Plenty of people will acquire a property in Cwmcarn, fully expectant that at some time, it may be flooded. However, aside from the physical damage, if a house is at risk of flooding, it may be difficult to get a mortgage, suitable insurance cover, or dispose of the property. There are steps that can be taken during the course of a house purchase to forewarn the purchaser.
Solicitors are not qualified to offer advice on flood risk, but there are a various searches that can be carried out by the buyer or on a buyer’s behalf which will figure out the risks in Cwmcarn. The standard property information forms given to a buyer’s lawyer (where the Conveyancing Protocol is adopted) includes a standard question of the seller to determine whether the property has suffered from flooding. If flooding has previously occurred and is not notified by the vendor, then a buyer may bring a claim for damages as a result of such an incorrect answer. The buyer’s solicitors will also commission an enviro report. This should reveal if there is a recorded flood risk. If so, further inquiries will need to be conducted.
I used Stirling Law a few years past for my conveyancing in Cwmcarn. I now require my papers however the law firm is no longer operating. What do I do?
You should contact the Solicitors Regulatory Authority (SRA) to assist in tracing your conveyancing files. They can be contacted on please contact on 0870 606 2555. Alternatively, you should use their online form to make an enquiry. You will need to provide the SRA with as much information as possible to assist their search, including the name and address in Cwmcarn of the conveyancing firm of solicitors you previously used, the name of conveyancing solicitor with whom you had dealings, and the date on which you last had dealings with the firm.
Yesterday I discovered that there is a flying freehold element on a house I have offered on a fortnight ago in what was supposed to be a quick, chain free conveyancing. Cwmcarn is where the house is located. Is there any guidance you can impart?
Flying freeholds in Cwmcarn are rare but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Cwmcarn you must be sure that your lawyer goes through the deeds thoroughly. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Cwmcarn 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 premises.
Do I stop the direct debit for my mortgage with UBS as soon as a completion date for my home sale in Cwmcarn has been set?
No, you should continue paying any mortgage payments to UBS pending the mortgage being redeemed from the proceeds of sale as part of your Cwmcarn conveyancing.