My partner and I are acquiring a brand new flat in Corby and my lawyer is informing me that she has to the bank to reveal incentives from the developer. I am under pressure to exchange contracts and I don't want to delay the conveyancing. is my lawyer playing by the book?
You should not exchange unless you have been advised to do so by your lawyer. A precondition to being on a mortgage company panel is to comply with the UK Finance Lenders’ Handbook conditions. The CML Conveyancing Handbook requires that your lawyer have the appropriate Disclosure of Incentive form completed by the developer and accepted by your lender.
Having sold my house in Corby last September but my buyer keeps SMS messaging me to moan that her solicitor needs to hear from mine. What are the post completion sale legalities now that I have sold?
Following your sale your lawyer is obliged to forward the transfer deeds and all supplemental paperwork to the buyer’s lawyers. Depending on the transaction, your lawyer must also confirm that the mortgage has been redeemed to the buyers solicitors. There is unlikely to be post completion requirements peculiar conveyancing in Corby.
Forgive me if this question is silly but I am unexperienced as a first time purchaser of a garden flat in Corby. Do I pick up the keys to the house on the completion date from my lawyer? If this is the case, I will find a local conveyancing solicitor in Corby?
On the day of completion you will not be required to go to the conveyancers office in Corby. Your solicitors will arrange to send the completion advance to the seller's solicitors, and once they have received this, you will be able to collect the keys from the property Agents and start moving into the property. This tends to happen between 1 and 3pm.
I currently have a mortgage with UBS for my property in Corby. Conveyancing has been completed a year ago. If I am intending to rent out the flat and do not currently have a buy-to-let mortgage do I need to remortgage to a BTL mortgage or inform UBS?
You must advise UBS prior to letting out your property as this is likely to be a breach of UBS’s mortgage conditions. It may be that UBS will allow you to rent out your former home without needing to switch to a buy-to-let mortgage but some lenders will add a surcharge to your mortgage rate to reflect the higher risk. You should contact UBS directly. It should not be necessary to do this via a UBS conveyancing panel solicitor.
I can not fathom if my mortgage offer requires a lease extension. I have called my Corby bank branch on various occasions and was told it wasn't an issue and they would lend. My Corby conveyancing solicitor - who is on the lender conveyancing panel- telephoned and was told they would not lend based on their specific requirements. Who do I believe?
The conveyancer has to comply with the Council of Mortgage Lenders’ Handbook Part 2 requirements for your bank. Unless your lawyer obtains specific confirmation in writing that the lender will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the lender to contact your lawyer in writing confirming that they will accept the number of years left on the lease.
I need some fast conveyancing in Corby as I am faced with a deadline to complete inside 4 weeks. A mortgage is not required. Can I decline from having conveyancing searches to save fees and time?
As you are not taking a home loan you have the choice not to have searches carried out although no law firm would recommend that you don't. With lots of history conveyancing in Corby the following are instances of what can arise and adversely impact future saleability: Enforcement Notices, Overdue Charges, Outstanding Grants, Road Schemes,...
I am on look out for some leasehold conveyancing in Corby. Before I get started I want to be sure as to the number of years remaining on the lease.
If the lease is registered - and almost all are in Corby - then the leasehold title will always include the short particulars of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title. For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.
Corby Conveyancing for Leasehold Flats - Examples of Queries before Purchasing
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It would be prudent to enquire if there are any onerous prohibitions in the lease. By way of example plenty of leases prohibit pets being permitted in in a block in Corby. If you like the flatin Corby however your dog can’t make the move with you then you will be faced difficult decision. The prefered form of lease arrangement is a share of the freehold. In this situation the tenants have being in charge if their destiny and even though a managing agent is often retained if it is larger than a house conversion, the managing agent retained by the leaseholders.
Our property lawyer in Corby has requested from me ID documents asserting that this forms part of his requirements as a solicitor on the bank Conveyancing panel. Can you confirm whether this is the case?
Anti-terror and anti-money-laundering rules require Corby conveyancing solicitors and licensed conveyancers to verify the identity of the person or body they are dealing with before they can accept their conveyancing business. The Terms and Conditions that you need to sign will no doubt confirm this. Your lawyer is right that the mortgage company also require certain documents to be viewed. If a you refuse to provide ID verification documents, your conveyancer would not be able to accept instructions from you. Your lawyer also has obligations to obtain certain documents in accordance with the mortgage company's UK Finance Lenders’ Handbook requirements