My husband and I are acquiring a newly built apartment in Kirkby Lonsdale and my conveyancer is telling me that she is duty bound to the bank to reveal incentives from the seller. The Estate Agents are hassling me to exchange contracts and I have no desire to prolong matters. is my lawyer playing by the book?
You should not exchange unless you have been advised to do so by your solicitor. 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.
As a first time buyer what is the most important advice you can impart concerning purchase conveyancing in Kirkby Lonsdale?
You may not hear this from too many lawyers but conveyancing in Kirkby Lonsdale and elsewhere in England and Wales is an adversarial experience. In other words, when it comes to conveyancing there is plenty of room for conflict between you and other parties involved in the transaction. For instance, the vendor, estate agent and sometimes your lender. Appointing a law firm for your conveyancing in Kirkby Lonsdale should not be taken lightly as your conveyancer is your adviser, and is the ONE person in the legal process whose role it is to protect your legal interests and to protect you.
Sometimes a potential adversary will try and persuade you that it is in your interests to do things their way. For example, the property agent may claim to be assisting by suggesting your lawyer is dragging his heels. Or your financial adviser may tell you to do take action that is contrary to your solicitors advice. You should always trust your lawyer above all other parties when it comes to the legal transfer of property.
I have paid off my mortgage with Principality. I assume I don't need a Kirkby Lonsdale conveyancer on the Principality panel to remove the mortgage at the Land Registry. Am I right?
If you have finished paying off your Principality mortgage, they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the Principality mortgage from the register. Principality, and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:
- but are not moving to another property
- where Principality has sent the Land Registry the discharge electronically, and
- Principality has instructed the Land Registry to do so
I can not work out if my bank requires a lease extension. I have called my Kirkby Lonsdale bank branch on numerous occasions and was told it does not impact the mortgage offer and they would lend. My Kirkby Lonsdale conveyancing solicitor - who is on the lender conveyancing panel- called and was told they refuse to lend based on their UK Finance Lenders’ Handbook minimum lease term requirements. I have no idea who is right.
Provided that the solicitor is on the lender panel, she or he must adhere to the CML Handbook specifications for the lender. Unless your lawyer obtains specific confirmation in writing that the mortgage company will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the mortgage company to contact your lawyer in writing confirming that they will accept the number of years remaining.
I recently had an offer accepted on an apartment in Kirkby Lonsdale. My mortgage broker suggested a conveyancing practitioner. I paid an on account payment of £225. A couple of days later, the property lawyer called me embarrassingly acknowledging that they were not on the Lloyds conveyancing panel. Am I right in thinking that I should be due a refund?
You should be able to recover this from the law firm if they were not on the Lloyds panel. They should have asked at the outset which lender you were obtaining a mortgage with. An important lesson to readers of this site is to check that the lawyers are on the appropriate lender panel.
A colleague recommended that where I am purchasing in Kirkby Lonsdale I should ask my conveyancer to carry out a Neighbourhood, Planning and Local Amenity Search. Can you explain what the purpose of this search is?
This is a search is occasionally included in the estimate for your Kirkby Lonsdale conveyancing searches. It is a large document of more than thirty pages, listing and detailing important information about Kirkby Lonsdale around the property and the people living there. It incorporates an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the Kirkby Lonsdale Housing Market, Council Tax Banding, the demographics of People living in the area, the dominant type of Housing, the Average Property Price, Crime statistics, Local Education with plans and statistics, Local Amenities and other useful information regarding Kirkby Lonsdale.
Are there restrictive covenants that are commonly identified as part of conveyancing in Kirkby Lonsdale?
Restrictive covenants can be picked up when reviewing land registry title as part of the process of conveyancing in Kirkby Lonsdale. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’