I am purchasing a newly constructed apartment in Coney Hall and my lawyer is advising me that she is duty bound to the lender to reveal incentives from the builder. I am under pressure to exchange and I would rather not prolong the conveyancing. 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 do I find out if the solicitor carrying out my conveyancing in Coney Hall is on the lender’sapproved panel? I am looking to avoid the situation of having one lawyer for me and one for TSB thus paying £187.00 plus VAT in another set of conveyancing charges.
Feel free to take advantage of the search tool on this web page. Pick the mortgage company and type ‘Coney Hall’ or your preferred area and you will discover numerous conveyancers offices in Coney Hall or by proximity to you.
My colleague suggested that if I am purchasing in Coney Hall I should ask my conveyancer to execute a Neighbourhood, Planning and Local Amenity Search. Can you explain what the purpose of this search is?
This is a search is usually included in the estimate for your Coney Hall conveyancing searches. It is a large report of about 40 pages, listing and detailing significant information about Coney Hall around the property and the people living there. It includes an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the local Housing Market, Council Tax Banding, the demographics of People living in the area, the dominant type of Housing, the Average Property Price, Crime details, Local Education with plans and statistics, Local Amenities and other useful data regarding Coney Hall.
I opted to have a survey done on a property in Coney Hall in advance of instructing lawyers. I have been advised that there is a flying freehold aspect to the property. Our surveyor has said that some lenders may refuse to give a mortgage on this type of property.
It depends who your proposed lender is. Lloyds has different requirements from Birmingham Midshires. Should you wish to telephone us we can check via the relevant bank. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Coney Hall. Conveyancing may be slightly more expensive based on your lender's requirements.
My father-in-law has urged me to instruct his conveyancers in Coney Hall. Do I follow his guidance?
There are no two ways about it it’s preferable to find a conveyancing solicitor is to get referrals from friends or relatives who have actually experience in using the firm you're are thinking of instructing.
Are the Coney Hall conveyancing lawyers identified as being on the lender conveyancing panel, together with their details provided by the mortgage company?
Coney Hall law firm practices and firms carrying out conveyancing in Coney Hall themselves provide us confirmation that they are on the lender conveyancing panel as opposed to being supplied with a list from the mortgage company directly.