My husband and I are purchasing a new build apartment in Parkstone and my solicitor is informing me that she has to the mortgage company to reveal incentives from the developer. The Estate Agents are hassling me to exchange contracts and I have no desire to prolong matters. Is my lawyer right?
You should not exchange unless you have been advised to do so by your conveyancer. A precondition to being on a mortgage company panel is to comply with the UK Finance Lenders’ Handbook requirements. The CML Conveyancing Handbook requires that your lawyer have the appropriate Disclosure of Incentive form completed by the developer and accepted by your lender.
How up to date is your database of Parkstone solicitors on the UBS conveyancing panel? Do UBS send you an updated list?
Parkstone conveyancing firms themselves provide us confirmation that they are on the UBS conveyancing panel as opposed to being supplied with a list from UBS directly.
Over the last few months I have been searching for a leasehold apartment up to £195,000 and identified one close by in Parkstone I like with open areas and railway links in the vicinity, however it's only got 52 remaining years left on the lease. I can't really find anything else in Parkstone suitable, so just wondered if I would be making a grave error acquiring a lease with such few years left?
Should you require a mortgage the shortness of the lease may be problematic. Discount the offer by the anticipated lease extension will cost if it has not already been discounted. If the current owner has owned the premises for a minimum of 2 years you may ask them to commence the lease extension formalities and then assign it to you. An additional ninety years can be extended on to the current lease and have £0 ground rent by law. You should speak to your conveyancing solicitor concerning this.
I'm remortgaging my existing house to a BTL mortgage with The Royal Bank of Scotland and I will use the ballance of the raised equity as a deposit on a second property. The area we are talking about is Parkstone. Will your lawyers be able to act for the two lenders and tie in the conveyances?
Make use of our search tool on this page to check that the conveyancers are approved by both banks. Assuming that they are the solicitor should be able to tie up the two deals but you should have a chat with you conveyancer and communicate your expectations and needs.
The conveyancing solicitors handling our conveyancing in Parkstone has sent papers to review that indicate that the property is unregistered with epitome documents. Why is the property not yet recorded at the Land Registry?
It is unusual for property in Parkstone to be unregistered. An 'epitome' is basically a dossier of photocopies of documents affecting an unregistered title. Many Parkstone conveyancing solicitors will be capable of dealing with such matters but if any uncertainty prevails the standard guidance presently appears to be for the seller to undertake the registration formalities first and subsequently deal with the disposal - this undoubtedly result in a prolonged home move.