I am purchasing a new build apartment in Coombe and my conveyancer is informing me that she is duty bound to the lender to disclose incentives from the developer. I am nearing the developer’s deadline to exchange contracts and my preference is not to prolong the conveyancing. Is my lawyer right?
You should not exchange unless you have been advised to do so by your lawyer. A precondition to being on a lender panel is to comply with the UK Finance Lenders’ Handbook specifications. The CML Conveyancing Handbook requires that your lawyer have the appropriate Disclosure of Incentive form completed by the developer and accepted by your lender.
Despite weeks of looking the Title Certificate and documents to my house can not be found. The conveyancers who handled the conveyancing in Coombe 4 years ago no longer exist. What are my options?
As long as you have a registered title the information relating to your ownership will be held by the Land Registry with a Title Number. It is easy to carry out a search at the Land Registry, locate your property and obtain current copies of the property title for less than a fiver. If the title is Leasehold then the Land Registry will also normally hold a file duplicate of the Registered Lease and again, a copy can be ordered for a small fee.
I am buying my first flat in Coombe benefiting from help to buy. The builders would not reduce the price so I negotiated five thousand pounds worth of extras instead. The sale representative told me not reveal to my conveyancer about the deal as it would put at risk my loan with Virgin Money. Should I keep quiet?.
All lenders require a Disclosure of Incentives Form from the developer of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
I decided to have a survey carried out on a house in Coombe prior to instructing conveyancers. I have been advised that there is a flying freehold overhang to the property. The surveyor advised that some lenders may not issue a loan on this type of house.
It depends who your proposed lender is. HSBC has different requirements for example to Birmingham Midshires. If you call us we can investigate further with the relevant bank. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Coombe. Conveyancing may be slightly more expensive based on your lender's requirements.
I am selling my property. My previous solicitors closed down. I am in need of a recommendation of a conveyancing firm. Im based in Coombe if that makes things easier.
Please use our search tool to help you choose a solicitor for your conveyancing in Coombe. We have connected thousands of home buyers and sellers with lender approved solicitors to ensure that the legalities of their house move runs with a minimum of fuss.
My husband and I plan to buy our 1st property in Coombe. Conveyancing lawyer has been chosen. The broker advised that a survey is not necessary as the property was only built in 1997.
As the bare minimum you need a Home Buyer's Report. Given the property is over ten years old the property will be without a warranty, so you don't want to take a risk. Where a property of this age shows no signs of problems a Home Buyer's report could be sufficient. They will highlight any apparent issues and suggest further investigation where appropriate. Where there are any signs of problems get a comprehensive structural survey.