My husband and I are acquiring a newly built duplex in Wellingborough and my lawyer is advising me that she has to the mortgage company to disclose incentives from the seller. The Estate Agents are hassling me to exchange contracts and I don't want to prolong deal. Is my lawyer right?
You should not exchange unless you have been advised to do so by your conveyancer. A precondition to being on a lender 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.
My colleague recommended that where I am buying in Wellingborough I should carry out a Neighbourhood, Planning and Local Amenity Search. What does it cover?
This is a search is usually quoted for as part of the standard Wellingborough conveyancing searches. It is not a small report of about 40 pages, listing and detailing significant information about Wellingborough around the property and the people living there. It incorporates an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the local Housing Market, Council Tax Banding, the type of People living in the area, the dominant type of Housing, the Average House Prices, Crime details, Local Education with maps and statistics, Local Amenities and other useful data concerning Wellingborough.
The estate agent has sent us the confirmation of our purchase of a new build flat in Wellingborough. Conveyancing is daunting at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build legal work.
Set out below is a sample of a few leasehold new build questions that you can expect your new-build leasehold conveyancing in Wellingborough
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Will control of the Management Company (if any) be handed over to purchasers on completion of the last sale or earlier? Has the Lease plan been approved by the Land Registry and if not when will they be lodged for this purpose? Where service of notices and proceedings can be at the property demised please confirm that this can be amended to include simultaneous services at the Lessees’ solicitors’ offices where the Lessee from time to time is not resident in the UK - such solicitors may be varied by notice in writing to the Landlord from time to time but otherwise will be as previously specified. Please supply evidence that the form of Lease proposed has been approved by the Land Registry. There must be mutual enforceability of lessee’s covenants.
Do I need to be wary that estate agents that I am dealing with are encouraging me to use a web based conveyancing firm as opposed to a High Street Wellingborough conveyancing company?
As with lots of service providers, often recommendations from connections can be extremely useful or valuable. Nevertheless there are numerous players in a conveyancing transaction; estate agents, mortgage brokers and mortgage companies may suggest lawyers to instruct. Sometimes the conveyancers might be known to one of the organisations as experts in their field, but occasionally there is an underlying financial incentive behind the endorsement. You are free to select your own conveyancer. Don't forget that the majority of mortgage providers specify a panel list of lawyers you must use for the lender aspect of your conveyancing.
As co-executor for the will of my uncle I am selling a property in Monmouth but live in Wellingborough. My lawyer (who is 260 miles awayhas requested that I execute a stat dec prior to the transaction finalising. Can you recommend a conveyancing lawyer in Wellingborough who can witness this legal document for me?
Technically speaking you are unlikely to need to have the documents attested by a conveyancing solicitor. Ordinarily any notary public or qualified solicitor will do regardless of whether they are based in Wellingborough
When it comes to my conveyancing in Wellingborough should I be charged VAT on the following: (1) Land reg fee on purchase (2) Pre - completion search fee (3) SDLT E submission on purchase (4) Bank TT fee
(1) Land reg fee on purchase - No (2) Pre - completion search fees -No, (such conveyancing searches are HMLR ones and means £4 and possibly £2 bankruptcy per name on your mortgage) (3) SDLT E submission on your purchase - There is no VAT on Stamp Duty. However if the firm is charging a stamp duty e-submission fee as part of their services - some Wellingborough conveyancers do - that will incur VAT(4) Bank transfer fee - Yes it is for the property lawyer's time in submitting the funds this way.