I am buying a newly built apartment in Cranleigh and my lawyer is advising me that she has to the bank to disclose incentives from the builder. The Estate Agents are hassling me to exchange and I have no desire to prolong deal. 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 bank panel is to comply with the UK Finance Lenders’ Handbook provisions. The CML Conveyancing Handbook requires that your lawyer have the appropriate Disclosure of Incentive form completed by the developer and accepted by your lender.
In what way does my ID and proof of funds have anything to do with my conveyancing in Cranleigh? Why is this being asked of me?
It is indeed that case that these requests have nothing to do with conveyancing in Cranleigh. Nowadays you will not be able to proceed with any conveyancing process if you have not providing evidence of your identity. Ordinarily this takes the form of a either your passport or driving licence plus a council tax bill. Please note that if you are providing your driving licence as proof of ID it must be both the paper part and photo card part, one is not sufficient in the absence of the other.
Proof of the origin of money is necessary under Money Laundering Regulations. You should not be offended when when this is requested of you as your lawyer must retain this information on record. Your Cranleigh conveyancing practitioner will need to see evidence of proof of funds before they are able to accept any money from you into their client account and they may also ask further queries regarding the origin of monies.
Are there restrictive covenants that are commonly picked up as part of conveyancing in Cranleigh?
Covenants that are restrictive in nature can be picked up when reviewing land registry title as part of the process of conveyancing in Cranleigh. 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…’
I am purchasing a new build house in Cranleigh with the aid of help to buy. The developers would not move on the price so I negotiated 6k of fixtures and fittings instead. The sale representative suggested that I not reveal to my lawyer about this deal as it will adversely affect my mortgage with HSBC Bank. Do I keep my lawyer in the dark?.
All lenders require a Disclosure of Incentives Form from the developer of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
I am looking into buying my first house which is in Cranleigh and I am already nervous. I couldn't find anything specific about Cranleigh. Conveyancing will be needed in due course but do you know about the Cranleigh area? or perhaps some other tips you can share?
Rather than looking online forget looking online you should go and have a look at Cranleigh. In the meantime here are some basic statistics that we found
My brother has suggested that I appoint his lawyers for conveyancing in Cranleigh. Should I choose my own solicitor?
There are no two ways about it the ideal way to select a conveyancing solicitor is to seek guidance from friends or relatives who have previously instructed the solicitor you're considering.