We are buying a brand new flat in Romsey and my conveyancer is informing me that she is duty bound to the lender to disclose incentives from the seller. I am under pressure to sign contracts and I don't want to prolong matters. 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 requirements. The CML Conveyancing Handbook requires that your lawyer have the appropriate Disclosure of Incentive form completed by the developer and accepted by your lender.
Are the Romsey conveyancing solicitors identified as being on the HSBC conveyancing panel, together with their details provided by HSBC?
Romsey conveyancing firms themselves provide us confirmation that they are on the HSBC conveyancing panel as opposed to being supplied with a list from HSBC directly.
Our bank has recommended solicitors on their panel based in Romsey but I would rather choose a conveyancing lawyer in Romsey or nearer to where I live. Are you able to help?
The minority of Romsey conveyancing firms are on all lender’s conveyancing panel. Use our find an approved solicitor tool to choose a Romsey conveyancing firm on the on the bank panel.
How does conveyancing in Romsey differ for new build properties?
Most buyers of new build or newly converted property in Romsey approach 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 Romsey typically purchase the land, 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 conveyancers 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 Romsey or who has acted in the same development.
I am looking for a flat up to £195,000 and identified one near me in Romsey I like with a park and railway links in the vicinity, the downside is that it only has 51 years unexpired on the lease. There is not much else in Romsey for this price, so just wondered if I would be making a grave error buying a lease with such few years left?
If you require a home loan the remaining unexpired lease term will likely be a potential deal breaker. Discount the offer by the amount the lease extension will cost if not already taken into account. If the existing proprietor has owned the property for a minimum of 2 years you can ask them to start the process of the extension and pass it to you. You can add 90 years to the current lease term with a zero ground rent applied. You should consult your conveyancing solicitor about this.
Is it simple use your search app to choose a conveyancing practitioner in Romsey on the panel for my mortgage?
1st choose a bank such as Birmingham Midshires, Skipton Building Society or Aldermore then specify your location for instance Romsey. Conveyancing organisations in Romsey and across England and Wales will then be identified.