My wife and I are buying a brand new apartment in Allestree and my conveyancer is advising me that she is duty bound to the mortgage company to disclose incentives from the developer. I am on a tight deadline to exchange and I would rather not prolong 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 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.
We are purchasing a house and require a conveyancing solicitor in Allestree who is on the Lloyds solicitor panel. Could you point me in the right direction as regards a conveyancing firm?
Our service is limited to being a directory service for firms who wish to be listed as being on the approved conveyancing panel for Lloyds . We don't recommend any particular firms conducting conveyancing in Allestree.
I am in the process of refinancing my flat in Allestree, does my lawyer need to be on the RBS Conveyancing panel?
There is nothing to stop you using your solicitor, but RBS will insist on their interests being represented by a firm on their conveyancing panel. There is greater potential for delays and confusion with two solicitors involved, and it will undoubtedly be more expensive too.
I am helping my niece sell her property in Allestree. Will the conveyancer arrange the energy assessment or should I organise this?
Following the abolition of HIPs, EPC’s was retained a required element of moving house. An energy assessment should be commissioned before the property is placed on the market. This is not something that solicitors normally organise. If you are instructing a Allestree conveyancing lawyer they may help arrange energy performance certificates given their relationships with long established local accredited person
I'm the only recipient of my late mum's estate with all property in now in my sole name, including the my former home in Allestree. The Allestree property was put into my name in December. I want to move. I understand that there is a CML six month 'rule', which means that my property ownership may be considered the same way as though I had purchased the property in December. Do I have to wait half a year to sell?
The Council of Mortgage Lenders’ handbook mandates conveyancers to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." Technically you may be impacted by that. Most banks would take a practical view as this clause chiefly exists to capture the purchase and immediately sell or the flipping of property.
I am due to exchange contracts on my apartment. I had a double glazing fitted in May 2008, but did not receive a FENSA certificate or Building Regulation Certificate. My purchaser’s lender, HSBC are being problematic. The Allestree solicitor who is on the HSBC conveyancing panel is saying indemnity insurance will be fine but HSBC are insisting on a building regulation certificate. Why do HSBC have a conveyancing panel if they don't accept advice from them?
It is probably the case that HSBC have referred the matter to their valuer. The reason why HSBC may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing was correctly and safely installed. The indemnity insurance merely protects against enforcement action which is very unlikely anyway.
I have recentlybecome aware that Arc property Solicitors have been shut down. They carried out my conveyancing in Allestree for a purchase of a leasehold apartment 9 months ago. How can I check that the property is not still registered in the name of the previous owner?
The easiest way to check if the property is registered to you, you can make a search of the land registry (£3.00). You can either do this yourself or ask a law firm to do this for you. If you are not registered you can seek help from one of a number of Allestree conveyancing specialists.
How does conveyancing in Allestree differ for new build properties?
Most buyers of new build property in Allestree approach us having been asked by the housebuilder to sign contracts and commit to the purchase even before the property is ready to move into. This is because developers in Allestree tend to purchase 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 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 accustomed to new build conveyancing in Allestree or who has acted in the same development.