My husband and I are purchasing a newly constructed apartment in Epsom and my solicitor is telling me that she is duty bound to the bank to reveal incentives from the developer. I am under pressure to exchange contracts and I would rather not prolong matters. Is my lawyer right?
You should not exchange unless you have been advised to do so by your lawyer. A precondition to being on a bank 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.
I am purchasing a new build flat in Epsom. How practical is it for me to do the conveyancing?
Leaving aside the complexities and merits of DIY conveyancing in Epsom you will have to appoint a solicitor on your mortgage company's conveyancing panel to look after their interests. Most people therefore find it easier to let the solicitor act for them and the lender. Furthermore there is minimal cost savings to be made in you doing conveyancing for yourself and another lawyer conducting the conveyancing for the lender. Please feel free to use the search tool to find a lawyer on your lender panel in Epsom.
I'm the only beneficiary of my late mum's will with all property in now in my sole name, including the house in Epsom. The Epsom property was put into my name in March. I want to move. I do know about the Mortgage Lenders 6 month 'rule', meaning my property ownership could be considered the same way as if I'd bought the property in March. Will no one buy the property for half a year?
The CML handbook obliges conveyancers to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." Technically you might be impacted by that. How sensible a view lenders take of it, depend on the mortgage company as this obligation is principally there to pick up on subsales or the wholesaling and assigning of properties.
Are all Epsom Conveyancing Quality Solicitors on the Aldermore conveyancing panel?
A selection of lenders now utilise the accreditation scheme as the starting point for Panel approval such as HSBC and Santander. The Law Society’s CQS accreditation however gives no guarantee to lender panel acceptance. That being said,the Council of Mortgage Lenders have indicated that it is likely to become a pre-requisite for solicitors wishing to join their approved list of conveyancing solicitors.
Last month we had a mortgage agreed in principle with Skipton. Epsom conveyancing lawyers have been chosen. How long does it take for Skipton to forward the offer to the conveyancer?
Some lenders take longer than others. Have Skipton conducted the survey? Have you informed Skipton as to your lawyers' details and checked that your lawyers are on the Skipton conveyancing panel? Sometimes it can take as long as six weeks for a mortgage offer to be issued.
Is it necessary to take out insurance to protect me from financial exposure to chancel repairs when purchasing a residence in Epsom?
Unless a prior acquisition of the property completed post 12 October 2013 you could expect conveyancing practitioners delivering conveyancing in Epsom to remain recommending a chancel search and or chancel repair liability insurance.
How can the Landlord & Tenant Act 1954 impact my business property in Epsom and how can you help?
The particular law that you refer to gives a safeguard to business leaseholders, giving them the right to make a request to court for a new lease and remain in occupation at the end of an expired lease. There are certain specified grounds where a landlord can refrain from granting a lease renewal and the rules are complicated. We are happy to direct you to commercial conveyancing firms who use the act for protection and handle your commercial conveyancing in Epsom