I am buying a new build apartment in Knowle and my lawyer is informing me that she is duty bound to the bank to reveal incentives from the builder. I am nearing the developer’s deadline to exchange contracts and my preference is not to prolong matters. Is my lawyer right?
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 provisions. The CML Conveyancing Handbook requires that your lawyer have the appropriate Disclosure of Incentive form completed by the developer and accepted by your lender.
Our lender has recommended solicitors on their panel based in Knowle but I would rather use a conveyancing lawyer in Knowle or nearer to where I live. Are you able to assist?
It is by no means the case that all Knowle conveyancing solicitors are approved and listed on all lender’s conveyancing panel. Please make use of our search tool to identify a Knowle conveyancing conveyancer on the on the mortgage company panel.
Me and my partner are purchasing a apartment in Knowle. I might seem paranoid but how we can trust a lawyer? On completion day we will need to send our life savings into their account. What is the protection we have from them run away with our money?
Be assured that all money in a Solicitors client account is 100% safe, and even if your Solicitor ran off with it, the Law Society would reimburse you fully.
My wife and I buying a terrace house in Knowle. Our aim is to carry out a loft conversion at the house.Will legal due diligence on the property include investigations to ascertain if these alterations are permitted?
Your conveyancer will check the deeds as conveyancing in Knowle can on occasion reveal restrictions in the title documents which prohibit certain works or need the permission of another owner. Certain works require local authority planning consent and approval in compliance with building regulations. Some locations are designated conservation areas and special planning restrictions apply which frequently prevent or impact extensions. It would be prudent to check these issues with a surveyor prior to committing yourself to a purchase.
My sealed bid on a detached house in Knowle has been agreed to, the vendors do however have a dependent purchase. The owners have placed an offer on somewhere, but it’s not been accepted yet, and are looking at other flats in the pipeline. I have chosen a high street conveyancing solicitor in Knowle. What should be my next step? When do I get the mortgage application with Bank of Ireland going?
It is usual to have apprehensions where there is a chain as you are unlikely to want to be too out of pocket too early (mortgage application is in the region of £1k, then valuation, Knowle conveyancing search charges, etc). First, you should ensure that your property lawyer is on the Bank of Ireland approved list. Regarding the subsequent phase this very much dictated by the uniqueness of your case, desire for this property and on the state of the market. During a hot market the majority of purchasers would apply for a home loan with Bank of Ireland and arrange for the valuation and only if it comes back ok would they request their conveyancer to proceed with the conveyancing in Knowle.
I have been on the look out for a leasehold apartment up to £235,500 and identified one close by in Knowle I like with a park and railway links nearby, however it's only got 51 years on the lease. I can't really find anything else in Knowle for this price, so just wondered if I would be making a grave error buying a short lease?
Should you need a mortgage that many years will likely be problematic. Discount the offer by the amount the lease extension will cost if it has not already been discounted. If the existing owner has owned the premises for at least 2 years you could ask them to start the process of the extension and then assign it to you. An additional ninety years can be extended on to the existing lease with a zero ground rent applied. You should consult your conveyancing solicitor about this.
Should I be suspicious that third parties that I am dealing with are encouraging me to use a nationwide conveyancing firm rather than a local Knowle conveyancing practice?
As with lots of professional services, often input from family and friends can be worth their weight in gold. Nevertheless there are numerous players in a conveyancing deal; estate agents, mortgage brokers and lenders might all put forward lawyers to retain. On occasion these solicitors might be known to one of the organisations as being good in their field, but sometimes there is an underlying commercial relationship behind the recommendation. You have the discretion to appoint your preferred conveyancer. However, bear in mind that most mortgage providers operate an approved list of conveyancers you are obliged to use for the mortgage aspect of your house move.