My wife and I are buying a brand new flat in Surbiton and my conveyancer is telling me that she has to the lender to disclose incentives from the builder. I am on a tight deadline to exchange and I don't want to delay the conveyancing. Is my lawyer right?
You should not exchange unless you have been advised to do so by your solicitor. 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.
Is there a reason why leasehold purchase conveyancing in Surbiton is more expensive?
Surbiton leasehold properties involve far more paperwork than a freehold purchase, and therefore takes more time to examine and advise upon.Conveyancing will involve the lease having to be checked which is usually a lengthy document, queries raised to ensure that the covenants and conditions have been observed. If it is a flat there will be a management company in existence and the accounts of this will need to be checked and enquiries raised to ensure it is operating efficiently and that all monies due have been paid by the Seller to the company and if not ensuring that money is paid up to date or the appropriate undertakings obtained.
I have been referred to a conveyancing solicitor in Surbiton. I need to find out whether they are on the HSBC Bank approved list of lawyers. Can you advise?
The first thing you should do is e-mail the conveyancer and enquire if they are on the lender panel. Alternatively you should get in touch with HSBC Bank who may be able to assist.
My bid for a property was accepted at auction in Surbiton. Conveyancing is necessary. What is next?
Having exchanged you will need to hire the services of a conveyancing lawyer soon as you are faced with a pending a fixed date to complete the deal. An auction property should have a bespoke auction pack. This will likely include evidence of title and search results. Where you are dealing with leasehold property the legal pack may include a copy of the lease, management information and a sellers leasehold information form and other conveyancing paperwork pertinent to leasehold premises. You should hand this to the solicitor instructed by you ASAP. You also need to ensure that your finances are in place to complete the transaction on the set completion date.
Can you point me to a directory of Virgin Money panel conveyancers in Surbiton on the Building Society Association’s Website?
Unfortunately not yet. There is no such directory service on the CML or Building Society Association sites. A small selection of mortgage companies make their panel listings open the public online. If you are looking for a Surbiton solicitor on the Virgin Money please use our tool.
I recently had an offer accepted on an apartment in Surbiton. My financial adviser suggested a lawyer. I paid an upfront payment of £175. A few days later, the property lawyer called me embarrassingly acknowledging that they were not on the UBS conveyancing panel. Am I right in thinking that I should be due a refund?
You should be able to recover this from the law firm if they were not on the UBS panel. They should have asked at the outset which lender you were obtaining a mortgage with. An important lesson to readers of this site is to check that the lawyers are on the appropriate lender panel.
I need to find a conveyancing solicitor for freehold conveyancing in Surbiton. I happened to land on a web site which appears to be the perfect offering If there is a chance to get all formalities completed via email that would be ideal. Should I be wary? What are the potential pitfalls?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?
I have miscalculated my finances and am a few thousand pounds short a 10% deposit on my apartment purchase in Surbiton , but I am keen go ahead. What can I do?
You can accept a lesser deposit. Many property owners will agree to a smaller deposit or even no deposit for a first time buyer or 100% mortgage. Be aware though that if you fail to complete you will still need to hand over a minimum of 10% of the purchase price regardless of how much deposit was agreed.
You can also agree a simultaneous exchange and completion as no deposit is required for this however neither party will be tied in until completion actually takes place and it can be risky if sellers change their mind at the last second