My wife and I are buying a new build flat in Tufnell Park and my lawyer is informing me that she is duty bound to the lender to reveal incentives from the builder. I am on a tight deadline to exchange contracts and I would rather not prolong deal. 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 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.
It is a dozen years since I bought my home in Tufnell Park. Conveyancing solicitors have now been appointed on the sale but I can't track down my title deeds. Is this a major issue?
You need not be too concerned. Firstly there is a chance that the deeds will be retained by your mortgage company or they could be in the possession of the solicitor who oversaw your purchase. Secondly the chances are that the land will be recorded at the land registry and you will be able to prove you own the property by your conveyancing solicitors procuring up to date copy of the land registers. Almost all conveyancing in Tufnell Park relates to registered property but in the unlikely event that your home is not registered it is more problematic but is resolvable.
Just had an offer accepted on a new build flat in Tufnell Park. Conveyancing is a frightening process at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build legal work.
Set out below are examples of a few leasehold new build questions that you may expect your new-build leasehold conveyancing in Tufnell Park
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Forfeiture - bankruptcy or liquidation must not apply under this provision. Please confirm the Lease plans are surveyor prepared. If there are lifts in the building, please confirm that the owners of flats on the ground and basement floors will not be required to contribute towards the cost of maintenance and renewal. Will control of the Management Company (if any) be handed over to purchasers on completion of the last sale or earlier? The Lease must contain a provision on behalf of the Vendor to pay the service charges in respect of unoccupied units in order to ensure that all services can be provided.
Hoping to buy a property located in Tufnell Park and I am already nervous. I couldn't find anything specific about Tufnell Park. Conveyancing will be needed in due course but do you know about the Tufnell Park area? or perhaps some other tips you can share?
Rather than looking online forget looking online you should go and have a look at Tufnell Park. In the meantime here are some basic statistics that we found
My husband and I are FTB’s - agreed a price, but the property agent has warned us that the vendor will only move forward if we instruct the agent's recommended conveyancers as they need an ‘expedited deal’. Our preferred option is to instruct a high street solicitor accustomed to conveyancing in Tufnell Park
We suspect that the owner is unaware of this ultimatum. Should the seller require ‘a quick sale', turning down a motivated buyer is is going to put the whole deal at risk. Bypass the agents and go straight to the owners and explain that (a)you are keen to buy (b)you are ready to go, with mortgage lined up © you have nothing to sell (d) you wish to move quickly (e)however you will continue to use your preferred Tufnell Park conveyancing lawyers - rather thanthe ones that will give their negotiator at the agency a introducer fee or meet his conveyancing targets demanded by head office.
I'm buying a property in Tufnell Park. I have found my conveyancer's company on the CLC list, but I can't see my lawyer's name as listed on the regulator's website. Should I be concerned?
Not all staff in the practice must be listed by the regulator. Provided there is a manager qualified to 'oversee' the work, the actual day-to-day activity can be undertaken by unqualified staff.