My partner and I are buying a new build duplex in Warwickshire and my lawyer is informing me that she has to the bank to reveal incentives from the builder. The Estate Agents are hassling me to exchange and I have no desire to delay the conveyancing. 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 bank 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.
Will my conveyancing lawyers need to check that the building insurance for my purchase of a house in Warwickshire. My lender is Accord Mortgages
Accord Mortgages have specific requirements as set out in the UK Finance Lenders’ Handbook. As of 20/7/2021, the requirements read as follows :
The deeds to my property are lost. The lawyers who handled the conveyancing in Warwickshire 4 years ago no longer exist. What are my next steps?
These day there are copies made of almost everything, and your lawyer will be aware precisely where to locate all the suitable documentation so you may purchase or dispose of your house without any difficulty. Where copies are not available, your solicitor may be able to arrange cover in the form of insurance or indemnities protecting you against future claims on the property.
How does conveyancing in Warwickshire differ for new build properties?
Most buyers of new build or newly converted property in Warwickshire come to us having been asked by the housebuilder to exchange contracts and commit to the purchase even before the residence is ready to move into. This is because house builders in Warwickshire typically 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 conveyancing solicitors 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 Warwickshire or who has acted in the same development.
What type of premises does your Warwickshire conveyancing estimates apply to?
The quotes provided are only applicable to standard residential property in England & Wales. If you have any different requirements for instance industrial or agricultural property or commercial conveyancing in Warwickshire you should telephone us to address this further .