I am buying a newly built flat in Twyford and my conveyancer is telling me that she has to the bank to reveal incentives from the developer. The Estate Agents are hassling me to exchange contracts and I don't want to prolong matters. is my lawyer playing by the book?
You should not exchange unless you have been advised to do so by your property lawyer. A precondition to being on a bank panel is to comply with the UK Finance Lenders’ Handbook specifications. The CML Conveyancing Handbook requires that your lawyer have the appropriate Disclosure of Incentive form completed by the developer and accepted by your lender.
five months have elapsed since my purchase conveyancing in Twyford concluded. I have checked the Land Registry website which shows that I paid £150,000 when infact I paid £215,000. 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 residence 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.
How does conveyancing in Twyford differ for new build properties?
Most buyers of new build residence in Twyford contact us having been asked by the seller to exchange contracts and commit to the purchase even before the premises is built. This is because builders in Twyford 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 accustomed to new build conveyancing in Twyford or who has acted in the same development.
I am looking for a flat up to £305k and identified one near me in Twyford I like with a park and railway links in the vicinity, however it's only got 49 years unexpired on the lease. There is not much else in Twyford for this price, so just wondered if I would be making a grave error purchasing a lease with such few years left?
If you require a home loan the shortness of the lease will likely be a potential deal breaker. Discount the offer by the anticipated lease extension will cost if it has not already been discounted. If the existing proprietor has owned the property for a minimum of twenty four months you could ask them to commence the lease extension formalities and pass it to you. An additional ninety years can be extended on to the existing lease term with a zero ground rent applied. You should consult your conveyancing lawyer regarding this.
Hoping to buy a property located in Twyford and I am already nervous. I couldn't find anything specific about Twyford. Conveyancing will be needed in due course but do you know about the Twyford area? or perhaps some other tips you can share?
Rather than looking online forget looking online you should go and have a look at Twyford. In the meantime here are some basic statistics that we found
I am looking for a conveyancing lawyer in Twyford for my house move. Can I review a solicitor's record with the profession’s regulator?
You may search for published Solicitor Regulator Association (SRA) determinations stemming from investigations from 2008 onwards. Go to Check a solicitor's record. To find information Pre 2008, or to check a firm's history, ring 0870 606 2555, 08.00 - 18.00 any week day save for Tuesday when lines open at 9.30am. For callers outside the UK, dial +44 (0)121 329 6800. The SRA may recorded call for training purposes.