My husband and I are purchasing a newly constructed duplex in Par and my solicitor is advising me that she is duty bound to the mortgage company to disclose incentives from the seller. The Estate Agents are hassling me to exchange and I don't want to delay the conveyancing. Is my lawyer right?
You should not exchange unless you have been advised to do so by your conveyancing practitioner. A precondition to being on a mortgage company 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 wife and I are close to exchanging contracts on the sale of our house in Par and according to the buyers it appears that there is a possibility that the property was constructed on contaminated land. A high street Par conveyancer would know that there is no such problem. For the life of me I don't know why the buyers instructed a nationwide conveyancing firm as opposed to a conveyancing solicitor in Par. Having lived in Par for 5 years we know that this is a non issue. Is it a good idea to contact our local Authority to obtain confirmation that the buyers are looking for.
It would appear that you have a conveyancing firm already. Are they able to advise? You should enquire of your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out health insurance to cover that same sickness)
five months have elapsed since my purchase conveyancing in Par completed. I have checked the Land Registry website which shows that I paid £150,000 when infact I paid £170,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the asset from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
How does conveyancing in Par differ for newly converted properties?
Most buyers of new build or newly converted property in Par approach us having been asked by the builder to sign contracts and commit to the purchase even before the property is finished. This is because builders in Par tend to purchase the land, 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 conveyancing solicitors 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 Par or who has acted in the same development.
Given that I will soon spend £400,000 on a property in Par I wish to talk to a conveyancer concerning theconveyancing prior to instructing the firm. Is this something that you can arrange?
Absolutely - we would be happy to talk to you we do not take any clients on without you first talking to the conveyancer due to be doing your property ownership legalities in Par.There is no ‘factory style conveyancing’ - each client is an important individual, not a case number. The law firms that we put you in touch with believe that the figure you are quoted for residential conveyancing in Par should be the amount on the final invoice that you end up paying.