I am purchasing a newly built flat in Forestdale and my conveyancer is telling me that she is duty bound 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 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.
As someone with no idea as to conveyancing in Forestdale what is the number one tip you can give me concerning the legal transfer of property in Forestdale
You may not hear this from too many lawyers but conveyancing in Forestdale or throughout South London is often a confrontational experience. Put another way, when it comes to conveyancing there is lots of opportunity for friction between you and others involved in the ownership transfer. For instance, the seller, property agent and sometimes a bank. Choosing a law firm for your conveyancing in Forestdale an important selection as your conveyancer is your adviser, and is the ONE person in the process whose role it is to act in your best interests and to keep you safe.
There is a worrying increase in the "blame" culture- someone must be at fault for the process being so protracted. We recommend that you your first instinct should be to trust your solicitor above the other parties when it comes to the legal assignment of property.
I have been told that property searches are a common reason for delay in Forestdale house deals. Is there any truth in this?
The Council of Property Search Organisations (CoPSO) published findings of research by MoveWithUs that conveyancing searches do not figure amongst the most frequent causes of hindrances during the legal transfer of property. Searches are unlikely to feature in any slowing down conveyancing in Forestdale.
I'm remortgaging my existing house to a BTL mortgage with Godiva Mortgages Ltd and I will use the rest of the raised equity as a down payment on further property. The area we are interested in is Forestdale. Will your lawyers be able to act for the two lenders and link together the conveyances?
Make use of our comparison tool on this site to check that the solicitors are on the relevant lender panels. Having checked that they are your conveyancer should be able to tie up the two transactions but you should have a chat with you conveyancer and communicate your desired outcome and requirements.
When it comes to my conveyancing in Forestdale should I be paying VAT on the following: (1) Land reg fee on purchase (2) Pre - completion search fee (3) SDLT E submission on purchase (4) Bank TT fee
(1) Land reg fee on purchase - No (2) Pre - completion search fees -No, (such conveyancing searches are HMLR ones and means £4 and possibly £2 bankruptcy per name on your mortgage) (3) SDLT E submission on your purchase - There is no VAT on Stamp Duty. However if the firm is charging a stamp duty e-submission fee as part of their services - some Forestdale conveyancers do - that will incur VAT(4) Bank transfer fee - Yes it is for the property lawyer's time in submitting the funds this way.