I am buying a brand new flat in Hawarden and my solicitor is advising me that she is duty bound to the mortgage company to reveal incentives from the builder. The Estate Agents are hassling me to exchange contracts and I don't want to delay 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 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.
I am told that my conveyancing solicitors will need to check that the building insurance when buying a house in Hawarden. My lender is The Mortgage Works
The Mortgage Works have specific requirements as set out in the UK Finance Lenders’ Handbook. As of 11/9/2024, the requirements read as follows :
I am downsizing from our property in Hawarden and the buyers lawyers are claiming that there is a risk of it being built land that was not decontaminated. Any local conveyancer would know this is not the case. It does beg the question why the purchasers instructed a national conveyancing outfit rather than a conveyancing solicitor in Hawarden. We have lived in Hawarden for six years we know that this is a non issue. Is it a good idea to get in touch with our local Authority to get confirmation that there is no issue.
It would appear that you have a conveyancing solicitor currently acting for you. What do they say? You must check with your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out life insurance to cover that same sickness)
The deeds to our property can not be found. The conveyancers who did the conveyancing in Hawarden 4 years ago have long since closed. What are my next steps?
Nowadays there are duplicates made of almost everything, and your conveyancer will know precisely where to look for all the appropriate documentation so you can buy or dispose of your house without any difficulty. Where copies are not available, your solicitor can arrange cover in the form of insurance or indemnities against possible claims on the premises.
How does conveyancing in Hawarden differ for newly converted properties?
Most buyers of new build residence in Hawarden contact us having been asked by the seller to sign contracts and commit to the purchase even before the property is constructed. This is because builders in Hawarden usually acquire 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 property lawyers 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 Hawarden or who has acted in the same development.
My wife and I have appointed a Hawarden conveyancing solicitor for our home move (novice purchasers) and have picked up in the engagement letter that they are not covered by the FCA. Need I be concerned or is that usually the case with solicitor?
We can't see why they should be. Most lawyer don't lend money. They should be governed by the SRA, who dictate stringent conditions in place on funds sitting on client account.