My husband and I are acquiring a newly constructed flat in Southwater and my solicitor is telling me that she has to the lender to disclose incentives from the seller. I am on a tight deadline to exchange contracts and I don't want to prolong matters. is my lawyer playing by the book?
You should not exchange unless you have been advised to do so by your property lawyer. A precondition to being on a mortgage company panel is to comply with the UK Finance Lenders’ Handbook conditions. The CML Conveyancing Handbook requires that your lawyer have the appropriate Disclosure of Incentive form completed by the developer and accepted by your lender.
Do I need to pop into the offices of the solicitor to sign the mortgage deed? If so, I will appoint a lawyer who conducts conveyancing in Southwater so that I can pop in to their offices if necessary.
Most approved lawyers for banks conduct their work via Royal Mail, e-mail or over phone calls. This means that they can undertake the conveyancing transaction regardless of where you live in England or Wales. That being said you can check if you have the option of going to the offices of your conveyancing lawyer if needed.
Despite weeks of looking the Title Certificate and documents to our property are lost. The solicitors who handled the conveyancing in Southwater 10 years ago are no longer around. What are my next steps?
Assuming you have a registered title the information relating to your ownership will be evidenced by HMLR with a Title Number. It is easy to execute a search at the Land Registry, find your property and secure current copies of the Registered Entries for less than a fiver. If the title is Leasehold then the Land Registry will in most cases retain a certified duplicate of the Registered Lease and again, a copy can be obtained for £20 inclusive of VAT.
I have been on the look out for a ground for flat up to £235,500 and identified one close by in Southwater I like with open areas and railway links nearby, the downside is that it only has 51 remaining years left on the lease. I can't really find anything else in Southwater suitable, so just wondered if I would be making a mistake buying a lease with such few years left?
If you require a mortgage the remaining unexpired lease term will be a potential deal breaker. Reduce the offer by the expected lease extension will cost if not already taken into account. If the current proprietor has owned the property for at least twenty four months you can request that they commence the lease extension formalities and then assign it to you. You can add 90 years to the current lease term and have £0 ground rent by law. You should speak to your conveyancing lawyer about this.
Are there any apps to help search for a Southwater conveyancing solicitor on the mortgage company conveyancing panel? I have a car and am prepared to travel up to 20miles to meet the lawyer.
Feel free to make use of the find a conveyancing panel search on this website. Please choose the lender and your location, in this case Southwater and you will see a number of lawyer located nearest Southwater. Alternatively you can type in the name of your proposed law firm and see if they are listed as being on the mortgage company solicitor panel.