My husband and I are buying a new build flat in Castle Cary and my solicitor is advising me that she is duty bound to the bank to disclose incentives from the seller. The Estate Agents are hassling me to exchange and I have no desire to 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 mortgage company 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.
My wife and I have recently appointed a conveyancing solicitor in Castle Cary. I I am struggling to find out whether they are accepted on the Norwich and Peterborough Building Society conveyancing panel. Can you advise?
You should e-mail your conveyancer and ask them whether they are on the lender panel. Otherwise you should call Norwich and Peterborough Building Society who may be able to assist.
I understand that there are debates on Chancel Insurance on online forums. Do I require chancel insurance when buying a house in Castle Cary? or Apparently there is a law dating back centuries that means some house owners living in a parish church boundary may be liable to pay for repairs towards the chancel in proximity to the church. Is this a legitimate concern for conveyancing in Castle Cary?
Unless a previous acquisition of the property took place post 12 October 2013 you may take it that lawyers delivering conveyancing in Castle Cary to remain recommending a chancel search and or chancel repair liability policy.
How does conveyancing in Castle Cary differ for new build properties?
Most buyers of new build premises in Castle Cary contact us having been asked by the seller to exchange contracts and commit to the purchase even before the house is constructed. This is because builders in Castle Cary tend to acquire 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 Castle Cary or who has acted in the same development.
I've recently found out that there is a flying freehold issue on a house I put an offer in two weeks back in what should have been a simple, chain free conveyancing. Castle Cary is where the house is located. What do you suggest?
Flying freeholds in Castle Cary 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 Castle Cary 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 Castle Cary may determine 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'm refinancing my primary home to a BTL mortgage with Chelsea Building Society and intend to use the remaining equity as a deposit on a second house. The location we are interested in is Castle Cary. Will your solicitors be able to act for both sets of lenders and tie in the two deals?
Do use our search tool on this page to ensure that the conveyancers are approved by both banks. Having checked that they are your conveyancer should be able to simultaneously deal with the two conveyancing matters but you should talk with you conveyancer and communicate your expectations and requirements.