We are purchasing a newly built apartment in Byfleet and my solicitor is informing me that she has to the bank to disclose incentives from the seller. I am under pressure to exchange and my preference is not to prolong the conveyancing. Is my lawyer right?
You should not exchange unless you have been advised to do so by your lawyer. 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.
What does my ID and proof of funds have anything to do with my conveyancing in Byfleet? Is this really warranted?
Byfleet conveyancing solicitors as well as nationwide property practitioners throughout the UK have a duty under money laundering regulations to verify the ID of any client in order to satisfy themselves that clients are who they say they are.
Conveyancing clients will need to provide two forms of certified ID; proof of ID (usually a Passport or Driving Licence) and evidence of address (typically a Utility Bill no more than three months).
Evidence of the origin of monies is also required under the money laundering statutes as solicitors have a duty to check that the funds you are using to purchase a property (whether it be the deposit for exchange or the full purchase monies if you are buying without a mortgage) has come from a reputable source (such as an inheritance) rather than the proceeds of criminal activity.
How does conveyancing in Byfleet differ for new build properties?
Most buyers of new build premises in Byfleet approach us having been asked by the housebuilder to sign contracts and commit to the purchase even before the residence is completed. This is because builders in Byfleet typically 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 conveyancers 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 Byfleet or who has acted in the same development.
I have been on the look out for a flat up to £235,500 and found one round the corner in Byfleet I like with a park and station nearby, however it's only got 61 years unexpired on the lease. I can't really find anything else in Byfleet suitable, so just wondered if I would be making a grave error acquiring a short lease?
Should you require a home loan the shortness of the lease may be an issue. Discount the offer by the expected lease extension will cost if not already taken into account. If the existing owner has owned the property for a minimum of 2 years you may ask them to commence the lease extension formalities and pass it to you. You can add 90 years to the current lease term and have £0 ground rent by law. You should speak to your conveyancing solicitor about this matter.
What is different about your site and alternative internet conveyancing solicitors for conveyancing in Byfleet?
At this site secure a conveyancing quote from a Solicitor or Licensed Conveyancer that has a full understanding of the issues for your conveyancing in Byfleet. As opposed to estate agents and brokerage sites we do not operate commission arrangements with solicitors. A large number of agents and online brokers 'recommend' the firm that pays the most kickback, rather than the best value conveyancing in Byfleet
My partner has recommend that I appoint his conveyancing solicitors in Byfleet. Should I use them?
There are no two ways about it the ideal way to find a conveyancing lawyer is to get guidance from friends or relatives who have actually used the conveyancer you're contemplating using.