My wife and I are purchasing a new build flat in Hammersmith and my conveyancer is informing me that she has to the mortgage company to reveal incentives from the builder. I am on a tight deadline to exchange contracts and my preference is not to delay deal. 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 lender 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.
Will commercial conveyancing searches reveal impending roadworks that could affect a commercial land in Hammersmith?
Many commercial conveyancing solicitors in Hammersmith will carry out a SiteSolutions Highways report as it reduces the time that conveyancers invest in looking into accurate data on highways that impact buildings and development assets in Hammersmith. The search result sets out definitive information on the adoption status of roads, footpaths and verges, as well as the implication of traffic schemes and the rights of way surrounding a commercial development sites in Hammersmith.
For every commercial conveyancing transaction in Hammersmith it is crucial to investigate the adoption status of roads surrounding a site. The absence of identifying developments where adoption procedures have not been dealt with adequately could result in delays to Hammersmith commercial conveyancing transactions as well as pose a risk to future plans for the site. These searches are not conducted for residential conveyancing in Hammersmith.
I'm buying my first flat in Hammersmith with the aid of help to buy. The developers refused to budge the price so I negotiated 6k of fixtures and fittings instead. The estate agent advised me not inform my conveyancer about the deal as it will affect my mortgage with the lender. Do I keep my lawyer in the dark?.
All lenders require a Disclosure of Incentives Form from the builder 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.
Due to the advice of my in-laws I had a survey completed on a house in Hammersmith prior to appointing lawyers. I have been told that there is a flying freehold element to the property. The surveyor advised that some banks may not issue a loan on this type of home.
It varies from the lender to lender. Bank of Scotland has different requirements for example to Nationwide. If you contact us we can check via the relevant bank. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Hammersmith. Conveyancing will be smoother if you use a solicitor in Hammersmith especially if they regularly deal with such properties in Hammersmith.
Hoping to buy a property located in Hammersmith and I am already nervous. I couldn't find anything specific about Hammersmith. Conveyancing will be needed in due course but do you know about the Hammersmith area? or perhaps some other tips you can share?
Rather than looking online forget looking online you should go and have a look at Hammersmith. In the meantime here are some basic statistics that we found
We're new on the property ladder - agreed a price, but the estate agent told us that the owners will only proceed if we use the agent's chosen lawyers as they want an ‘expedited deal’. Our preferred option is to instruct a family solicitor used to conveyancing in Hammersmith
It is highly unlikely the owners are behind this. Should the vendor desire ‘a quick sale', taking such a hostile approach to a genuine purchaser is not the way to achieve this. Contact the owners directly and explain that (a)you are motivated purchasers (b)you are ready to progress, with mortgage lined up © you are unencumbered (d) you wish to move quickly (e)but you are going to appoint your own,trusted Hammersmith conveyancing solicitors - not the ones that will provide their estate agent a commission or hit his conveyancing thresholds set by corporate headquarters.