My wife and I are acquiring a newly built duplex in Kings Lynn and my lawyer is telling me that she has to the lender to disclose incentives from the developer. I am nearing the developer’s deadline to sign contracts and I have no desire to prolong deal. 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 bank 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.
We are selling our home in Kings Lynn. Will the conveyancer need to be on the Barclays conveyancing panel in order to deal with redeeming my mortgage?
Ordinarily, even if your lawyer is not on the Barclays conveyancing panel they can still act for you on your sale. It might be that the lender will not release the original deeds (if applicable and increasingly irrelevant) until after the mortgage is paid off. You should speak to your lawyer directly before you start the process though to ensure that there is no problem as lenders are changing their conditions fairly frequently currently.
Just acquired a semi-detached house in Kings Lynn , how long will it take for the Land Registry to register my title? My Kings Lynn conveyancing solicitor works at snail pace, so I want to be certain the land registry aspects are concluded.
There is nothing unique about conveyancing in Kings Lynn registration formalities. Rather than based on location, timescales can adjust subject to the party submitting the application, whether it is in order and whether the Land registry communicate with any other parties. At present roughly 80% of submission are fully dealt with in less than three weeks but some can be subject to protracted hold-ups. Registration occurs once the new owner is living at the property thus an expedited registration is not always primary concern but if it is urgent that the the registration takes place urgently then you or your conveyancer must speak with the land registry and explain the circumstances.
I am looking for a flat up to £235,500 and identified one near me in Kings Lynn I like with amenity areas and station nearby, the downside is that it's only got 49 years unexpired on the lease. There is not much else in Kings Lynn for this price, so just wondered if I would be making a mistake buying a lease with such few years left?
Should you need a mortgage that many years will be a potential deal breaker. Discount the offer by the amount the lease extension will cost if not already taken into account. If the current owner has owned the premises for a minimum of 2 years you may request that they commence the lease extension formalities and pass it to you. An additional ninety years can be extended on to the existing lease term with a zero ground rent applied. You should consult your conveyancing solicitor about this.
Given that I am about to part with £400,000 on 3 bedroom house in Kings Lynn I would like to talk to a lawyer concerning theconveyancing ahead of giving the go ahead to the firm. Can this be arranged?
We could not agree more - we would be pleased to talk to you we do not take any clients on without you liaising with the conveyancer who will be conducting your conveyancing in Kings Lynn.There is no ‘factory style conveyancing’ - every client is unique individual, not a file reference. The practices that we put you in touch with believe that the fees you are quoted for residential conveyancing in Kings Lynn should be the amount on the final invoice that you are charged.
My wife and I have AIP from Leeds Building Society who suggested that they will lend up to £117k. At what point do we need to instruct a practitioner for conveyancing? Kings Lynn is where we are buying.
You can instruct a conveyancing practitioner now so that the conveyancing practitioner can open the file so they can do their AML checks etc. Once you wish them to commence work they will seek a deposit usually about £200. That should normally be once you have the loan offer from the lender and survey back, but if you want to speed the process you can start the ball rolling quicker albeit risking some expense.