My partner and I are buying a new build flat in Weymouth and my conveyancer is advising me that she is duty bound to the bank to disclose incentives from the developer. I am nearing the developer’s deadline to exchange and my preference is not to delay deal. Is my lawyer right?
You should not exchange unless you have been advised to do so by your property lawyer. A precondition to being on a lender panel is to comply with the UK Finance Lenders’ Handbook provisions. 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 have a decision in principle. The bank mentioned the loan came with free conveyancing. Does this mean I have to instruct their panel conveyancer as I would prefer to use a specialised conveyancing solicitor in Weymouth?
You should check but the the probability is that allocate you one of their panel conveyancers if you accept the "fee-free" incentive. Call the bank and check if they make available a cash alternative. It is not unheard for a lender to give a £250 cashback as an alternative in which case you could put that amount towards your preferred conveyancing solicitor near Weymouth.
My partner and I have organised the release of further monies on our mortgage from Nationwide as we want to carry out renovations to our property in Weymouth. Are we obliged to choose a local Weymouth solicitor on the Nationwide conveyancing panel to handle the paperwork?
Nationwide would not normally require firms on their approved list of lawyers to deal with such a matter. If they do require any legal work then you would need to ensure that such a lawyer was on the Nationwide list.
I'm in the process of looking at houses in Weymouth and I am now considering a potential offer. Is it wise to have my conveyancer on ‘stand by’? I will be getting a home loan with Coventry BS.
You should start obtaining conveyancing estimates from solicitors ASAP. After you have chosen your lawyer and once your offer is accepted you can instruct them to work for you and pass their details on to the estate agent. As you are obtaining a mortgage with Coventry BS, make sure you remember to check that your lawyer is on the Coventry BS conveyancing panel.
I am currently in the process of buying my council flat in Weymouth. I have a mortgage offer with Leeds Building Society. Conveyancing is new to me. Can I proceed without a solicitor easily? I think we can but we keep being told I should have one. Any advice?
It is not advisable to proceed with a house purchase without a solicitor. The council's solicitor are not acting for you. You need a solicitor for a number reasons. One of which is to verify what plans the Council have for repairs and refurbishment for the next five years. Many leaseholders have been stung for contributions of thousands of pounds. In any event, if you are getting a mortgage with Leeds Building Society, you will need to appoint a solicitor on the Leeds Building Society conveyancing panel.
I've recently found out that there is a flying freehold element on a property I put an offer in a fortnight ago in what should have been a straight forward, no chain conveyancing. Weymouth is the location of the property. Can you shed any light on this issue?
Flying freeholds in Weymouth are not the norm but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Weymouth you would need to get your solicitor to go through the deeds very carefully. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Weymouth 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 property.
I am looking into buying my first house which is in Weymouth and I am already nervous. I couldn't find anything specific about Weymouth. Conveyancing will be needed in due course but do you know about the Weymouth area? or perhaps some other tips you can share?
Rather than looking online forget looking online you should go and have a look at Weymouth. In the meantime here are some basic statistics that we found