My partner and I are buying a brand new duplex in Tonteg and my lawyer is advising me that she is duty bound to the bank to reveal incentives from the builder. I am nearing the developer’s deadline to sign contracts and I have no desire to delay deal. 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 mortgage company 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.
What does my ID and proof of funds have anything to do with my conveyancing in Tonteg? Is this really necessary?
In order to comply with Money Laundering Regulations any Tonteg conveyancing firm will require proof of identity in all conveyancing matters. This is normally satisfied by provision of a passport and an original bank statement or utility bill evidencing your correct address.
In accordance with Money Laundering Regulations, conveyancers are obliged by law to validate not just the identity of conveyancing clients but also the source of the money that they receive in respect of any matter. Refusal to disclose this may lead to your solicitor ending their relationship with you, as clearly this will cause a conflict between the set Regulations and a refusal to disclose.
Your property lawyers will have an obligation to make a disclosure to the relevant authorities should they believe that any monies received by them may contravene the Anti-terror and anti-money-laundering rules.
My wife and I are selling our home in Tonteg and the buyers lawyers are claiming that there is a possibility that the property was built on contaminated land. Any local lawyer would know this is not the case. For the life of me I don't know why the buyers instructed an internet conveyancing outfit rather than a conveyancing solicitor in Tonteg. Having lived in Tonteg for 4 years we know of no issue. Do we get in touch with our local Authority to seek confirmation that there is no issue.
It sounds as though you may have a conveyancing solicitor already. Are they able to advise? You should enquire of 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)
How does conveyancing in Tonteg differ for newly converted properties?
Most buyers of new build property in Tonteg come to us having been asked by the housebuilder to exchange contracts and commit to the purchase even before the house is ready to move into. This is because builders in Tonteg tend to acquire the site, 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 conveyancing solicitors 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 used to new build conveyancing in Tonteg or who has acted in the same development.
How can the Landlord & Tenant Act 1954 impact my commercial offices in Tonteg and how can your lawyers assist?
The 1954 Act provides security of tenure to business lessees, giving them the legal entitlement to make a request to court for a new lease and continue in occupation when the lease reaches an end. There are limited grounds that a landlord can refrain from granting a lease renewal and the rules are involved. Fees are different for commercial conveyancing. Tonteg is one of the hundreds of locations in which the firms we work with are based
My step-father has suggested that I use his conveyancing solicitors in Tonteg. Should I find my own property lawyer?
Much as we are happy to recommend a Tonteg conveyancing lawyer it’s preferable to choose a conveyancing solicitor is to have referrals from friends or relatives who have experience in using the conveyancer you're are thinking of instructing.