We are purchasing a brand new duplex in St Neots and my solicitor is informing me that she is duty bound to the bank to disclose incentives from the seller. I am on a tight deadline to exchange contracts and I have no desire to delay matters. is my lawyer playing by the book?
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.
We are planning to buy with Coventry BS. We have called around locally but cant to find a St Neots conveyancing firm on the Coventry BS panel. Please you help?
You should take advantage of the find a conveyancing panel solicitor tool on this web page. Pick the lender and type St Neots or your preferred area and you will see numerous conveyancers based in St Neots or by proximity to you.
How does conveyancing in St Neots differ for newly converted properties?
Most buyers of new build residence in St Neots approach us having been asked by the seller to sign contracts and commit to the purchase even before the residence is built. This is because house builders in St Neots tend to buy the site, 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 conveyancers 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 used to new build conveyancing in St Neots or who has acted in the same development.
Yesterday I discovered that there is a flying freehold element on a house I have offered on last month in what was supposed to be a quick, no chain conveyancing. St Neots is where the house is located. What do you suggest?
Flying freeholds in St Neots are unusual but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in St Neots you must be sure that your lawyer goes through the deeds very carefully. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in St Neots may decide that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold residence.
I'm remortgaging my primary house to a BTL loan with Yorkshire Building Society and I will use the rest of the raised equity as a deposit on a second property. The location we are interested in is St Neots. Will your solicitors be able to act for both sets of banks and link together the two deals?
Make use of our comparison tool on this site to be sure that the solicitors are approved by both lenders. On the basis that they are your solicitor should be able to connect the two deals but you should talk with you lawyer and make clear your desired outcome and needs.