We are buying a new build duplex in Gaydon 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 my preference is not to prolong the conveyancing. is my lawyer playing by the book?
You should not exchange unless you have been advised to do so by your conveyancing practitioner. A precondition to being on a lender 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.
Completed the sale of my flat in Gaydon last December but our buyer keeps Skype messaging daily complaining that their lawyer is waiting to hear from myconveyancer. What are the post completion sale formalities following completion?
Following your sale your lawyer should send the transfer deeds and all supplemental paperwork to the buyer’s solicitors. Where appropriate, your conveyancer must also send confirmation that the home loan has been repaid to the buyers solicitors. There are no post completion formalities peculiar conveyancing in Gaydon.
The Gaydon conveyancing solicitors that just started acting on my house acquisition in Gaydon have without warning closed. They were on acting for me because I needed a solicitor on the Clydesdale conveyancing panel and my preferred Gaydon lawyer was not. I sent them a cheque for two hundred pounds in advance. What should be my next steps?
If you have an estate agent involved then let them know straight away so that they can let the sellers know that there may be a slight delay due to the problems encountered. Hopefully they will be sympathetic and urge their lawyer to send a new set of papers to your new solicitors. You will need to appoint new lawyers that are on the Clydesdale conveyancing panel and notify the lender. If you have paid over any money, it will hopefully be held by the SRA as money in an intervened firm's bank accounts is transferred to the SRA. Then, the SRA or the intervention agent looks at the intervened firm's accounts to work out who the money belongs to. To claim your money you will need to contact the SRA. If the SRA cannot return money you are owed from the firm's bank accounts, or if they can only return part of the money, you can apply to the Compensation Fund for a grant. Your new lawyers may be able to help.
Yesterday I discovered that there is a flying freehold element on a house I have offered on last month in what was supposed to be a straight forward, chain free conveyancing. Gaydon is where the house is located. Can you offer any advice?
Flying freeholds in Gaydon are not the norm but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Gaydon you must be sure that your lawyer goes through the deeds very carefully. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Gaydon 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 property.
When it comes to my conveyancing in Gaydon 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 Gaydon conveyancers do - that will incur VAT(4) Bank transfer fee - Yes it is for the conveyancer's time in submitting the funds this way.