My partner and I are purchasing a new build flat in Wimbledon and my solicitor is telling me that she is duty bound to the lender to disclose incentives from the builder. I am nearing the developer’s deadline to exchange and I have no desire to prolong matters. Is my lawyer right?
You should not exchange unless you have been advised to do so by your conveyancer. A precondition to being on a lender panel is to comply with the UK Finance Lenders’ Handbook requirements. 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 lawyers request money up-front when it comes to conveyancing in Wimbledon?
If you are buying a property in Wimbledon your lawyer will ask you put them with funds to cover the the cost of the conveyancing searches. This will be the total of the cost of the conveyancing searches. When the down payment is as part of the total price then this should be asked for shortly ahead of exchange of contracts. The closing balance that is needed should be sent to your lawyer shortly before completion.
We just had an offer accepted to buy with Loughborough BS. I went into 3 or 4 local companies yet cant to find a Wimbledon conveyancing firm on the Loughborough BS panel. Please you assist?
Feel free to take advantage of the search tool on this site. Please choose the building society and type Wimbledon or your preferred area and you will be presented with numerous solicitors based in Wimbledon or nearest you.
What can a local search tell me about the property we're buying in Wimbledon?
Wimbledon conveyancing often commences with the applying for local authority searches directly from your local Authority or via a personal search organisations such as Xpress Legal The local search is essential in every Wimbledon conveyancing purchase; that is if you wish to avoid any nasty once you have moved into your new home. The search will provide data on, amongst other things, details on planning applications applicable to the premises (whether granted or refused), building control history, any enforcement action, restrictions on permitted development, nearby road schemes, contaminated land and radon gas; in all a total of 13 subject areas.
Just had an offer accepted on a new build flat in Wimbledon. Conveyancing is a frightening process at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build conveyancing.
Set out below are examples of a few leasehold new build enquiries that you may expect your new-build leasehold conveyancing in Wimbledon
There must be mutual enforceability of lessee’s covenants. The Landlord must covenant to assume the management if the Management Company goes into liquidation or otherwise defaults in running the management scheme. The Lease must contain a provision on behalf of the Vendor to pay the service charges in respect of unoccupied units in order to ensure that all services can be provided. Where there is an Undertaking being granted there is the risk of forfeiture of the Headlease subject to relief if one or more of the Underlessees are willing to accept the original Head Lessee’s obligations as otherwise relief will be denied to the Underlessees. The only alternatives are the Head Lessor agreeing not to forfeit the Headlease or the Head Lessee guaranteeing to the Underlessees that it will not be in breach of the Headlease. If there are lifts in the building, please confirm that the owners of flats on the ground and basement floors will not be required to contribute towards the cost of maintenance and renewal.