My partner and I are purchasing a newly constructed apartment in Palmers Green and my solicitor is telling me that she is duty bound to the mortgage company to disclose incentives from the builder. I am under pressure to exchange contracts and I don't want to delay 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 lender 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.
Forgive me if this question is silly but I am unseasoned as a 1st time buyer of a garden flat in Palmers Green. Do I receive the keys to the premises on completion from my solicitor? If so, I will instruct a local conveyancing solicitor in Palmers Green?
On the day of completion you will not be required to attend the conveyancers office in Palmers Green. Your solicitors will electronically transfer the completion advance to the seller's solicitors, and shortly after the monies have arrived, you should be invited to collect the keys from the property Agents and move into your new home. Usually this occurs between 1 and 3pm.
We are planning to move home in October. Will my conveyancing solicitor update the removal company on the day of completion. Incidentally, can you recommend a removal company in Palmers Green. Conveyancing lawyer was organised before I stumbled across your site.
On the day of completion you will need to collect the house keys from your selling agent however this should only occur once the vendors solicitors inform the agent that the monies to complete are in and the keys can be passed over. Subsequently you will need to inform the removal men that they can start moving you in. We do not suggest a particular removal company but can help you find a residential property solicitor in Palmers Green or a solicitor with expertise in conveyancing in Palmers Green.
Is it the case that all Palmers Green solicitor practices on the Kent Reliance conveyancing panel are overseen by the Solicitors Regulatory Authority?
As solicitors, in order to be on the Kent Reliance approved list of solicitors they would need to be overseen by the SRA. Some lenders do allow licenced conveyancers on their panel in which case such organisation would be governed by the CLC.
We are intent on selling our property in Palmers Green and the buyers lawyers are claiming that there is a possibility that the property was 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 an online conveyancing outfit as opposed to a conveyancing solicitor in Palmers Green. We have lived in Palmers Green for 4 years we know that this is a non issue. Do we get in touch with our local Authority to obtain clarification that there is no issue.
It would appear that you have a conveyancing firm already. What do they say? You should 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 health insurance to cover that same ailment)
2 months have gone by following my purchase conveyancing in Palmers Green took place. I have checked the Land Registry site which shows that I paid £175,000 when infact I paid £160,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the asset from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
I'm purchasing a new build house in Palmers Green with a mortgage from Bank of Scotland. The builders refused to budge the price so I negotiated five thousand pounds worth of extras instead. The property agent suggested that I not to tell my lawyer about this deal as it will affect my mortgage with Bank of Scotland. 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.
I see that you have a search directory identifying firms on the bank conveyancing panel. Do Palmers Green conveyancing companies pay you a referral fee if I appoint them for my house purchase?
We are a listing service only for law firms wishing to communicate if they are on the bank conveyancing panel or other lender panels. We do not charge referral fees to the any conveyancer that you subsequently appoint for your conveyancing in Palmers Green.