My wife and I are acquiring a newly built apartment in Salcombe and my conveyancer is telling me that she has to the lender to disclose incentives from the developer. The Estate Agents are hassling me to exchange contracts and I don't want to prolong matters. 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 mortgage company panel is to comply with the UK Finance Lenders’ Handbook specifications. The CML Conveyancing Handbook requires that your lawyer have the appropriate Disclosure of Incentive form completed by the developer and accepted by your lender.
I am buying a terraced house in Salcombe. Conveyancing solicitors are said to be ‘a necessary evil’ but can I do it myself?
Leaving aside the complexities and merits of DIY conveyancing in Salcombe you will have to appoint a solicitor on your bank's conveyancing panel to look after their interests. Most people therefore find it easier to let the solicitor act for them and the lender. Furthermore there is minimal cost savings to be made in you doing conveyancing for yourself and another lawyer conducting the conveyancing for the lender. Please feel free to use the search tool to find a lawyer on your lender panel in Salcombe.
This question may be naive but I am unseasoned as a 1st time buyer of a garden flat in Salcombe. Do I pick up the keys to the property on the completion date from my solicitor? If this is the case, I will appoint a High Street conveyancing solicitor in Salcombe?
On the day of completion you will not be required to attend the conveyancers office in Salcombe. Your solicitors will arrange to send the completion advance to the seller's lawyers, and once they have received this, you should be called to pick up the keys from the property Agents and move into your new home. This tends to happen between 1 and 3pm.
We expect to receive a AIP from Barclays this week so we know how much we could potentially offer as otherwise we only have online calculators to go by (which aren't taking into account credit checks etc). Do Barclays recommend any Salcombe solicitors on the Barclays conveyancing panel, or is it better to find our own lawyer?
You will need to appoint Salcombe solicitors independently although you'll need to choose one on the Barclays conveyancing panel. The solicitor represents both you and Barclays through the process.
I have decided to exercise my right to buy my property in Salcombe off the council. I have a mortgage offer with Lloyds. Conveyancing is not something I have any knowledge of. Can I proceed without a solicitor easily? I think we can but we keep being told I should use one. Any advice?
It is not advisable to proceed with a house purchase without a solicitor. The council's solicitor are not acting for you. You need a solicitor for a number reasons. One of which is to verify what plans the Council have for repairs and refurbishment for the next five years. Many leaseholders have been stung for contributions of thousands of pounds. In any event, if you are getting a mortgage with Lloyds, you will need to appoint a solicitor on the Lloyds conveyancing panel.
I used Arc property Solicitors several years past for my conveyancing in Salcombe. Now, I need the files but cannot find the solicitor. What do I do?
Do call the Solicitors Regulatory Authority (SRA) to assist in tracking down your conveyancing files. They can be contacted on please contact on 0870 606 2555. Alternatively, you should use their online form to make an enquiry. You will need to provide the SRA with as much information as possible to assist their search, including the name and address in Salcombe of the conveyancing firm of solicitors you previously used, the name of conveyancing solicitor with whom you had dealings, and the date on which you last had dealings with the firm.
How does conveyancing in Salcombe differ for new build properties?
Most buyers of new build property in Salcombe come to us having been asked by the developer to exchange contracts and commit to the purchase even before the property is constructed. This is because new home sellers in Salcombe usually 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 Salcombe or who has acted in the same development.