My partner and I are purchasing a brand new duplex in Ongar and my lawyer is advising me that she is duty bound to the bank to reveal incentives from the builder. I am under pressure to exchange contracts and I have no desire to delay 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.
Can you explain why leasehold purchase conveyancing in Ongar is more expensive?
In short, leasehold conveyancing in Ongar and Essex usually necessitates more work compared to freehold conveyancing. This includes lease investigation, communicating with the landlord concerning the service of appropriate notices, procuring current service charge and management information, obtaining the landlord’s consents and reviewing management accounts. The obligations on both the landlord and the tenant in the lease need to be studied by the buyer’s conveyancing team and read from beginning to end – regardless of the fact the lease has passed through many different property solicitors hands since it was first granted.
The deeds to our house are lost. The solicitors who did the conveyancing in Ongar 10 years ago no longer exist. What are my options?
Gone are the days when you need to have the physical deeds to evidence that you are the registered proprietor of land or premises, given that the Land Registry have everything they need in a digital format.
How does conveyancing in Ongar differ for newly converted properties?
Most buyers of new build residence in Ongar approach us having been asked by the seller to exchange contracts and commit to the purchase even before the premises is completed. This is because new home sellers in Ongar tend to acquire the real estate, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct property lawyers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are accustomed to new build conveyancing in Ongar or who has acted in the same development.
As co-executor for the estate of my aunt I am disposing of a residence in Newport but reside in Ongar. My conveyancer (approximately 260 kilometers from meneeds me to execute a statutory declaration before the transaction finalising. Could you suggest a conveyancing solicitor in Ongar to attest this legal document for me?
strictly speaking you should not need to have the documents attested by a conveyancing solicitor. Ordinarily or notary public or solicitor will do regardless of whether they are located in Ongar