I am acquiring a brand new apartment in East Sussex and my lawyer is advising me that she has to the lender to disclose incentives from the builder. I am on a tight deadline to exchange and I would rather not delay 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 specifications. The CML Conveyancing Handbook requires that your lawyer have the appropriate Disclosure of Incentive form completed by the developer and accepted by your lender.
We were going to get a OIP from Aldermore this week so we can work out what to offer on a property we like as otherwise we are dependent on web based calculators (which aren't taking into account credit checks etc). Do Aldermore recommend any East Sussex solicitors on the Aldermore conveyancing panel, or is it better to find our own lawyer?
You will need to appoint East Sussex solicitors independently although you'll need to choose one on the Aldermore conveyancing panel. The solicitor represents both you and Aldermore through the process.
I'm in the process of looking at flats in East Sussex and I am about to put in an offer. Should I already have a property lawyer in place at this point? I will be getting a home loan with Nottingham.
It would be advisable to instigate your search sooner rather than later. Once you decide who you want to use and once your offer is accepted you can instruct them to work for you and pass their details on to the selling agent. As you are obtaining a mortgage with Nottingham, ask your prospective lawyers if they are on the Nottingham conveyancing panel otherwise they can't do the mortgage legal work.
I am due to exchange contracts on my house. I had a double glazing fitted in March 2008, but did not receive a FENSA certificate or Building Regulation Certificate. My buyer's lender, Barclays are being pedantic. The East Sussex solicitor who is on the Barclays conveyancing panel is recommending indemnity insurance as a solution but Barclays are requiring a building regulation certificate. Why do Barclays have a conveyancing panel if they don't accept advice from them?
It is probably the case that Barclays have referred the matter to their valuer. The reason why Barclays may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing was correctly and safely installed. The indemnity insurance merely protects against enforcement action which is very unlikely anyway.
Should commercial conveyancing searches reveal proposed roadworks that could affect a commercial estate in East Sussex?
Many commercial conveyancing solicitors in East Sussex will execute a SiteSolutions Highways report as it reduces the time that conveyancers spend in investigating accurate data on highways that impact buildings and development assets in East Sussex. The report sets out definitive data on the adoption status of roads, footpaths and verges, as well as the implication of traffic schemes and the rights of way surrounding a commercial development sites in East Sussex.
For every commercial conveyancing transaction in East Sussex it is crucial to investigate the adoption status of roads surrounding a site. Failure to identify developments where adoption procedures have not been dealt with adequately may result in delays to East Sussex commercial conveyancing deals as well as present a risk to future intentions for the site. These searches are not carried out for domestic conveyancing in East Sussex.
Me and my brother have a semi-detached Victorian house in East Sussex. Conveyancing solicitor acted for me and Chelsea Building Society. I did a free Land Registry search last week and there are a couple of entries: the first freehold, the second leasehold with the exact same address. Is it worth asking Chelsea Building Society to clarify?
You need to assess the Freehold register you have again and check the Charges Register as there may be mention of a lease. The best way to be sure that you are also the registered proprietor of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in East Sussex and other locations in the country and poses no real issues for owners other than when they sell they have to account for both freehold and leasehold interests when dealing with lenders. You can also question the situation with your conveyancing solicitor who conducted the purchase.
I have been on the look out for a ground for flat up to £305k and found one round the corner in East Sussex I like with amenity areas and station nearby, however it's only got 49 remaining years left on the lease. There is not much else in East Sussex in this price bracket, so just wondered if I would be making a grave error purchasing a lease with such few years left?
Should you need a home loan the shortness of the lease may be problematic. Reduce the price by the anticipated lease extension will cost if not already taken into account. If the existing proprietor has owned the property for a minimum of twenty four months you could ask them to commence the lease extension formalities and then assign it to you. An additional ninety years can be extended on to the existing lease term and have £0 ground rent by law. You should consult your conveyancing solicitor regarding this matter.