My partner and I are purchasing a newly built flat in St Ives and my lawyer is informing me that she is duty bound to the bank to reveal incentives from the seller. I am under pressure to exchange 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 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 used Arc property Solicitors several years ago for my conveyancing in St Ives. Now, I need my files however the law firm is no longer operating. What do I do?
Do call the Solicitors Regulatory Authority (SRA) to help locate 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 St Ives 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.
I have been sourcing a conveyancing lawyer in St Ives for my house move. Is there any facility to see a firm’s record with the legal regulator?
You may read documented Solicitor Regulator Association (SRA) determinations resulting from investigations from 2008 onwards. Visit Check a solicitor's record. To find details about the period before 1 January 2008, or to check a solicitors history, telephone 0870 606 2555, 08.00 - 18.00 any week day save for Tuesday when lines open at 9.30am. For callers outside the UK, call +44 (0)121 329 6800. The regulator may recorded telephone calls for training requirements.
Can you provide any top tips for leasehold conveyancing in St Ives from the point of view of saving time on the sale process?
- Much of the frustration in leasehold conveyancing in St Ives can be bypassed if you instruct lawyers the minute you market your property and ask them to put together the leasehold documentation which will be required by the purchasers’ representatives. If you have had conflict with your landlord or managing agents it is very important that these are settled prior to the flat being marketed. The purchasers and their solicitors will be reluctant to purchase a property where there is a current dispute. You may need to swallow your pride and discharge any arrears of service charge or resolve the dispute prior to completion of the sale. It is therefore preferable to have any dispute settled prior to the contract papers being issued to the buyers’ solicitors. You will still have to reveal particulars of the dispute to the purchasers, but it is clearly preferable to present the dispute as over rather than ongoing. In the event that you altered the property did you need the Landlord’s permission? Have you, for example laid down wooden flooring? Most leases in St Ives state that internal structural alterations or addition of wooden flooring necessitate a licence from the Landlord consenting to such alterations. Where you dont have the approvals to hand you should not contact the landlord without checking with your solicitor first. If you hold a share in a the freehold, you should make sure that you are holding the original share document. Organising a duplicate share certificate is often a time consuming process and slows down many a St Ives conveyancing transaction. If a new share is required, do contact the company director and secretary or managing agents (if relevant) for this as soon as possible. Many landlords or managing agents in St Ives charge for supplying management packs for a leasehold premises. You or your lawyers should find out the fee that they propose to charge. The management information sought as soon as you have a buyer, thus reducing delays. The typical amount of time it takes to obtain the necessary information is three weeks. It is the most frequent cause of frustration in leasehold conveyancing in St Ives.
Leasehold Conveyancing in St Ives - Examples of Questions you should ask before Purchasing
You will want to discover as much as you can concerning the managing agents as they can either make living at the property much easier or problematic. As the owner of a leasehold property you are often at the mercy of the managing agents from a financial perspective and when it comes to daily matters like the cleanliness of the common parts. Ask other tenants whether they are happy with them. On a final note, investigate as to the dates that you are obliged pay the maintenance charge to the relevant party and specifically what it includes. This question is important as a) areas may cause problems in the building as the common areas may start to deteriorate if maintenance are not paid for b) if the leasehold owners have an issue with the managing agents you will wish to have complete disclosure How is the lease structured?
Me and my wife have agreed a price on a St Ives apartment left to us ten years ago in 2009. I have over twenty years conveyancing knowledge and, now retired, wish to conduct the conveyancing. The buyer's solicitor has informed me that their building society will not allow you to do your own conveyancing as they require the funds to be sent to a solicitor's bank account.
Mortgage instructions to lawyers from all mainstream lenders state that If the vendor does not have legal representation the purchaser’s lawyers should check whether the lender needs to be informed so that a decision can be made as to whether or not they are willing to progress.