My partner and I are buying a brand new duplex in Maryland and my solicitor is informing me that she is duty bound to the lender to disclose incentives from the builder. I am nearing the developer’s deadline to exchange and I don't want to delay deal. 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 lender 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.
Do lawyers ask for an advanced payment when it comes to conveyancing in Maryland?
If you are buying a property in Maryland your solicitor will request that you put them with funds to cover the the cost of the conveyancing searches. Normally this is needed to cover the fees of the conveyancing searches. When the down payment is as part of the total price then this will be asked for shortly before exchange of contracts. Any further balance that is needed should be transferred a couple of days ahead of the completion date.
My grandfather passed away six months ago and as sole heir and executor I was left the house in Maryland. The house had a small mortgage left on it of around £5k. I want to have the title changed into my name whilst I re-mortgage to Clydesdale, pay off the mortgage. Is this allowed?
Given you plan to re-mortgage then Clydesdale will require that you use a conveyancer on the Clydesdale conveyancing panel. Here is link to the Land Registry online guidance around what to do when a property owner dies. This will help you to understand the registration process behind changing the details re the registered title. in your case it would appear that you are effectively purchasing the property from the estate. Your Clydesdale conveyancing panel solicitor pays the new mortgage money into the estate, the estate pays off the old mortgage, the charge is released and you become the owner and the Clydesdale mortgage is registered as a charge at the Land Registry.
My relative advised me that where I am purchasing in Maryland I should carry out a Neighbourhood, Planning and Local Amenity Search. Can you explain what the purpose of this search is?
A search of this type is sometimes quoted for as part of the standard Maryland conveyancing searches. It is not a small document of about 40 pages, listing and detailing important information about Maryland around the property and the people living there. It includes an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the Maryland Housing Market, Council Tax Banding, the type of People living in the area, the dominant type of Housing, the Average Property Price, Crime details, Maryland Education with maps and statistics, Local Amenities and other useful data concerning Maryland.
How straightforward is it to use your search facility to find a conveyancing lawyer in Maryland on the panel for my bank?
Step one is to pick a lender such as Halifax, Bank of Scotland or Aldermore then choose your location e.g. Maryland. Conveyancing practices in Maryland and further afield will then be identified.