My partner and I are acquiring a newly constructed apartment in Deeside and my solicitor is advising me that she is duty bound to the bank to disclose incentives from the builder. I am on a tight deadline to sign contracts and I have no desire to delay matters. Is my lawyer right?
You should not exchange unless you have been advised to do so by your solicitor. A precondition to being on a mortgage company 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.
In looking at consumer advice sites for a cheap solicitor in Deeside, most say that I must use a CQS assured lawyer. What is CQS?
The Conveyancing Quality Scheme (CQS) provides a kitemark for residential conveyancing practices issued by the Law Society. Membership achievement establishes a level of credibility for member firms with stakeholders (regulators, lenders, insurers and consumers) based upon: * the integrity of the senior responsible officer and other key conveyancing staff * the firm's adherence to good practice management standards * compliance with prudent and efficient conveyancing procedures through the scheme protocol It includes numerous organisations who conduct conveyancing in Deeside.
I am the single recipient of my late father’s estate with all property in now in my sole name, including the house in Deeside. Conveyancing formalities meant that the Land Registry date was in March. I plan to dispose of the house. I understand that there is a CML 6 month 'rule', meaning my property ownership may be regarded the same way as if I'd bought the house in March. Is the property unsalable for six months?
The CML handbook mandates conveyancers to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." Technically you might be caught by that. many mortgage companies would take a pragmatic view as this clause is primarily there to pick up on subsales or the flipping of property.
I have today made my last payment due on my mortgage with TSB. I assume I don't need a Deeside solicitor on the TSB panel to remove the mortgage at the Land Registry. Am I right?
If you have finished paying off your TSB mortgage, they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the TSB mortgage from the register. TSB, and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:
- but are not moving to another property
- where TSB has sent the Land Registry the discharge electronically, and
- TSB has instructed the Land Registry to do so
It is unclear whether my lender obliges me to make sure the lease term for the flat is extended prior to the completion date. I have called into my local Deeside building society branch on a couple of occasions and was told it does not impact the mortgage offer and they would lend. My Deeside conveyancing solicitor - who is on the mortgage company conveyancing panel- telephoned and was told they refuse to lend based on their UK Finance Lenders’ Handbook minimum lease term requirements. Who do I believe?
Your conveyancing practitioner has to comply with the CML Handbook Part 2 conditions for your bank. Unless your lawyer obtains specific confirmation in writing that the bank will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the bank to contact your lawyer in writing confirming that they will accept the number of years remaining.
I am buying a house and the conveyancer has identified Chancel Repair for which the property could be liable as it falls into the area of such a church. He has mentioned insurance. Is this strictly warranted for conveyancing in Deeside
Unless a prior purchase of the premises took place after 12 October 2013 you can assume that lawyers handling conveyancing in Deeside to continue to propose a a chancel search and or chancel repair liability policy.
I have justbeen informed that Arc property Solicitors have closed. They carried out my conveyancing in Deeside for a purchase of a leasehold flat 18 months ago. How can I be sure that my home is registered correctly in the name of the previous owner?
The quickest way to check if the property is in your name, 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 Deeside conveyancing specialists.
How does conveyancing in Deeside differ for newly converted properties?
Most buyers of new build or newly converted property in Deeside come to us having been asked by the housebuilder to sign contracts and commit to the purchase even before the property is built. This is because developers in Deeside usually 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 conveyancing solicitors 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 Deeside or who has acted in the same development.