My wife and I are purchasing a newly constructed flat in Southborough and my conveyancer is informing me that she has to the mortgage company to reveal incentives from the builder. The Estate Agents are hassling me to sign contracts and I would rather not delay deal. 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 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.
Why do I have to pay up front for conveyancing in Southborough?
Where you are retaining lawyers for conveyancing in Southborough your solicitor will request that you put them with funds to cover the the cost of the conveyancing searches. Ordinarily this is asked for to cover the fees of the conveyancing searches. If any deposit is as part of the purchase price then this should be needed immediately prior to exchange of contracts. Any further balance that is needed should be transferred a few days ahead of the day of completion.
A relative recommended that if I am purchasing in Southborough I should ask my conveyancer to perform a Neighbourhood, Planning and Local Amenity Search. What does it cover?
A search of this type is usually included in the estimate for your Southborough conveyancing searches. It is a large report of about 40 pages, listing and detailing significant information about Southborough around the property and the people living there. It includes an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the local Housing Market, Council Tax Banding, the type of People living in the area, the dominant type of Housing, the Average Property Price, Crime statistics, Southborough Education with maps and statistics, Local Amenities and other useful information concerning Southborough.
I need to instruct a conveyancing practitioner in Southborough for my purchase. Can I see a firm’s record with the legal regulator?
One may see documented Solicitor Regulator Association (SRA) decisions arising from inquisitions started on or after Jan 2008. Go to Check a solicitor's record. To find information Pre 2008, or to check a firm's history, call 0870 606 2555, 08.00 - 18.00 Monday, Wednesday, Thursday, Friday and 09.30 - 18.00 Tuesday. For callers outside the UK, dial +44 (0)121 329 6800. The SRA may monitor telephone calls for training reasons.
I have been informed by many estate agents to expect up to two months for Southborough conveyancing to complete.This was 3 ago. The draft contract was only sent from the vendors property lawyer yesterday so now does it countdown?
No official countdown exists for conveyancing in Southborough, or any location. You simply have to make sure your finances are in place and in due course the rest will come to you eventually.