My husband and I are buying a newly built apartment in Machen and my conveyancer is advising me that she is duty bound to the lender to reveal incentives from the builder. I am on a tight deadline to exchange and my preference is not to prolong deal. is my lawyer playing by the book?
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 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.
Having sold my house in Machen last January yet the purchaser is calling me to say her lawyer is waiting to hear from mine. What are the post completion sale formalities following completion?
Post completion of your house sale your solicitor should forward the transfer documentation and all additional paperwork to the purchaser's solicitors. If applicable, your conveyancer must also send confirmation that the mortgage has been discharged to the buyers conveyancers. There are no post completion steps just for conveyancing in Machen.
Do the Building Society Association intend to launch a search tool with a view to list firms on the Darlington Building Society conveyancing panel for instance in Machen?
We are not aware of any intention on the part of the BSA to promote such a tool.
A friend informed me that in purchasing a property in Machen there could be a number of restrictions affecting the ability to carry out external changes to a property. Is this right?
We are aware of anumerous of properties in Machen which have some sort of restriction or requirement of consent to external variations. Part of the conveyancing in Machen should determine what restrictions are applicable and advising you as part of a ROT that should be sent to you.
When it comes to mortgage companies such as Yorkshire BS, do Machen lawyers have to pay an annual charge to be on the conveyancing panel?
We are unaware of any bank fees to register on their panel, although some do charge an administration fee to deal with the processing of the conveyancing panel submission.
My sealed bid on a house in Machen has been agreed to, the owners do however have a tied purchase. The vendors have put an offer on a flat, but it’s not yet agreed to, and have viewings of other apartments booked. I have instructed a local conveyancing solicitor in Machen. What should be my next step? When should I get the mortgage application with Barclays going?
It is normal to have concerns where there is a chain as you are unlikely to want to incur expenses prematurely (home loan application is approx one thousand pounds, then valuation, Machen conveyancing search fees, etc). First, you must ensure that your conveyancer is on the Barclays conveyancing panel. As to the subsequent steps this very much dictated by the circumstances of your transaction, desire for this property and on the state of the market. During a hot market some purchasers would apply for the mortgage with Barclays and arrange for the valuation and only if it was satisfactory would they request their lawyer to press on with the conveyancing in Machen.
Yesterday I discovered that there is a flying freehold element on a property I have offered on two weeks back in what should have been a quick, no chain conveyancing. Machen is the location of the property. Can you offer any opinion?
Flying freeholds in Machen are not the norm but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Machen you must be sure that your lawyer goes through the deeds diligently. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Machen may determine that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold residence.
We are about to acquiring a property in Machen. Can our solicitor have the amount we are are purchasing for private from sites such as Zoopla. Is this achievable and how?
The Land Registry are legally required to reveal price paid information on a register of the title for residential properties countrywide including premises in Machen. The register of ownership is a public document, so HM Land Registry would be breaking the law excluded specific properties such as your property in Machen.
In essence you can ask HMLR to withhold the amount paid entry however the response will be in the negative.