I am purchasing a new build duplex in Milton Keynes and my conveyancer is informing me that she is duty bound to the lender to disclose incentives from the developer. I am nearing the developer’s deadline to exchange and I would rather not prolong deal. 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.
My bank has recommended a law firm on their panel based in Milton Keynes but I would rather choose a conveyancing lawyer in Milton Keynes round the corner to me. Can you assist?
The minority of Milton Keynes conveyancing solicitors are listed all banks conveyancing panel. Use the above search tool to identify a Milton Keynes conveyancing solicitor on the on the mortgage company panel.
Are there restrictive covenants that are commonly picked up during conveyancing in Milton Keynes?
Covenants that are restrictive in nature can be picked up when reviewing land registry title as part of the legal transfer of property in Milton Keynes. 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…’
I decided to have a survey carried out on a house in Milton Keynes ahead of appointing lawyers. I have been informed that there is a flying freehold element to the house. My surveyor has said that some banks may not grant a mortgage on such a home.
It varies from the lender to lender. Bank of Scotland has different requirements from Halifax. Should you wish to call us we can investigate further with the relevant mortgage company. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Milton Keynes. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Milton Keynes to see if the conveyancing will be more expensive.
My wife and I have just had an offer agreed on a flat and had meeting on Monday with Leeds Building Society for the mortgage. They have informed me that when it comes to appointing a property lawyer that unless they are on their approved panel of conveyancing practitioners then we will incur a further fee of £250+. This is because they will then have to instruct a solicitor to act for them as well as the one we select for ourselves and we are liable for their fees. I have requested Leeds Building Society to provide me with a list so I can obtain quotes only from their approved conveyancers but was told that I need to check with each individual conveyancer to see if they are on the panel. Is there a list online?
You can enquire of Leeds Building Society what their panel criteria is for a solicitor.Thereafter ask the property lawyer of your choice whether they fit that criteria and have they acted on loans for Leeds Building Society historically. If the answer to those is yes, then just double check with Leeds Building Society. Alternatively please make use of our search facility and we may be able to identify a conveyancing practitioner in Milton Keynes on the approved list for Leeds Building Society.