My husband and I are buying a newly built apartment in New Waltham and my lawyer is informing me that she is duty bound to the lender to disclose incentives from the developer. I am under pressure to sign contracts and I have no desire to prolong matters. 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 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.
It is 10 years ago since I acquired my house in New Waltham. Conveyancing solicitors have recently been instructed on the sale but I can't find my title deeds. Will this jeopardise the sale?
Don’t worry too much. First there is a chance that the deeds will be with the lender or they may still be with the solicitor who oversaw your purchase. Secondly the chances are that the property will be recorded at the land registry and you will be able to prove you own the property by your conveyancing lawyers obtaining up to date copy of the land registers. Nearly all conveyancing in New Waltham involves registered property but in the unlikely event that your property is not registered it adds to the complexity but is not insurmountable.
We expect to receive a AIP from Yorkshire BS this week so we can work out what to offer on a property we like as otherwise we are dependent on web based calculators (which aren't taking into account credit checks etc). Do Yorkshire BS recommend any New Waltham solicitors on the Yorkshire BS conveyancing panel, or is it better to go independently?
You will need to appoint New Waltham solicitors independently although you'll need to choose one on the Yorkshire BS conveyancing panel. The solicitor represents both you and Yorkshire BS through the process.
Intending to buy a house in New Waltham. I have received an online quote from a licenced conveyancer, which states: "There will be no charge for dealing with the Lender if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the Clydesdale conveyancing panel. I wanted to make sure it means there will be no additional fees for dealing with the mortgage.
They are simply saying that the cost for acting for the lender is included in the fee being quoted. It is worth you checking that the New Waltham conveyancing practitioner is on the Clydesdale conveyancing panel.
I've digested plenty of mortgage guides, I note that it is considered advisable to get your house surveyed prior to buying it. When I asked my local New Waltham solicitor - who is on the Skipton conveyancing panel - on this she said they don't do this and I need to contract an independent surveyor. is that correct?
Skipton will need an independent valuation of the property. Your lawyer will not arrange this. Usually Skipton will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey. Your lawyer will not organise the survey but they may be able to put you in touch with a local one that they recommend. RICS offers a find a surveyor service (just google it) where you can search for a qualified surveyor by your New Waltham postcode. As you are getting a mortgage with Skipton, you could contact them to see if they have a list of approved surveyors in New Waltham.
I have been on the look out for a flat up to £305k and identified one close by in New Waltham I like with amenity areas and transport links nearby, the downside is that it's only got 52 years on the lease. I can't really find anything else in New Waltham in this price bracket, so just wondered if I would be making a mistake buying a lease with such few years left?
Should you need a home loan the shortness of the lease may be a potential deal breaker. Discount the price by the expected lease extension will cost if not already taken into account. If the existing proprietor has owned the premises for a minimum of 2 years you could ask them to start the process of the extension and then assign it to you. An additional ninety years can be extended on to the existing lease and have £0 ground rent by law. You should speak to your conveyancing lawyer concerning this matter.
I was recommended by a number of selling agents in New Waltham to select a conveyancer on your site. Is there a financial incentive for Estate Agents to recommend your lawyers over and above a competitor’s?
We refuse to offer any commission for directing people in our direction. We thought it would be too underhand to pay a commission as members of the public would think, ‘Why is the agent getting a kickback? Why am I not getting any benefit too?’ We would prefer to grow our business on genuine recommendations.
My partner has recommend that I use his conveyancing solicitors in New Waltham. Do I follow his advice?
There are no two ways about it the best way to find a conveyancing practitioner is to seek feedback from friends or relatives who have used the conveyancer that you are contemplating using.