My partner and I are acquiring a new build flat in Cobham and my lawyer is informing me that she has to the mortgage company to disclose incentives from the seller. I am nearing the developer’s deadline to exchange contracts and I don't want 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 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.
How up to date is your search tool for Cobham conveyancing solicitors on the Kent Reliance conveyancing panel? Do Kent Reliance send you an updated list?
Cobham conveyancing firms themselves provide us confirmation that they are on the Kent Reliance conveyancing panel as opposed to being supplied with a list from Kent Reliance directly.
Are there restrictive covenants that are commonly picked up as part of conveyancing in Cobham?
Restrictive covenants can be picked up when reviewing land registry title as part of the legal transfer of property in Cobham. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
How does conveyancing in Cobham differ for new build properties?
Most buyers of new build property in Cobham contact us having been asked by the housebuilder to exchange contracts and commit to the purchase even before the premises is completed. This is because builders in Cobham usually acquire the land, 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 Cobham or who has acted in the same development.
I opted to have a survey carried out on a property in Cobham prior to appointing conveyancers. I have been informed that there is a flying freehold element to the house. Our surveyor advised that some banks tend refuse to grant a mortgage on such a house.
It varies from the lender to lender. HSBC has different instructions for example to Halifax. Should you wish to call us we can look into this further with the appropriate mortgage company. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Cobham. Conveyancing will be smoother if you use a solicitor in Cobham especially if they are accustomed to such properties in Cobham.
What makes your site different to alternative web based conveyancing brokers for conveyancing in Cobham?
At this site obtain an accurate costs illustration via a Solicitor or Licensed Conveyancer that understands the issues of your conveyancing in Cobham. Unlike many estate agents and brokerage sites we do not have commission arrangements with solicitors. Many agents and online brokers 'recommend' solicitors that pays the most commission, as opposed to the best value conveyancing in Cobham