My partner and I are buying a brand new apartment in East Sussex and my solicitor is advising me that she has to the mortgage company to disclose incentives from the builder. The Estate Agents are hassling me to exchange contracts and my preference is not to delay 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 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.
Do conveyancers request money on account when it comes to conveyancing in East Sussex?
If you are buying a property in East Sussex your solicitor will ask you put them with funds to cover the the cost of the conveyancing searches. Ordinarily this is asked for to cover the fees of the conveyancing searches. If any down payment is payable against the purchase price then this should be required shortly in advance of contracts are exchanged. The closing balance that is needed should be sent to your lawyer a few days prior to the day of completion.
Is there a search tool that I can utilise to investigate if the solicitor conducting my conveyancing in East Sussex is on the mortgage lender’sapproved panel? I am looking to avoid the situation of having one lawyer for me and one for Platform Home Loans Ltd thus paying £192.00 in supplemental conveyancing fees.
Please do take advantage of the find a conveyancing panel solicitor tool on this site. Pick the lender and type ‘East Sussex’ or your preferred area and you will be presented with a number of lawyer based in East Sussex or by proximity to you.
How does conveyancing in East Sussex differ for new build properties?
Most buyers of new build or newly converted property in East Sussex contact us having been asked by the developer to exchange contracts and commit to the purchase even before the house is completed. This is because developers in East Sussex usually buy 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 accustomed to new build conveyancing in East Sussex or who has acted in the same development.
In scouring the world wide web for the term cheap conveyancing in East Sussex it brings up many conveyancersin the vicinity. With so much choice what is the best way to find the suitable conveyancer for purchase transaction?
The preferential method of seeking the right conveyancer is through a personal testimonial, so enquire of colleagues and relatives who have bought a property in East Sussex or a respected estate agent or financial adviser. Charges for conveyancing in East Sussex differ, so it's sensible to obtain a minimum of three costs illustrations from varying types of property lawyers. Dont forget to clarify that the costs are assured not to to be inflated.
I am purchasing a maisonette with all finances in place. My conveyancer has been handed with two separate proof of photographic identification, bank statement, numerous utility bills. Now he requires a copy from a probate lawyer advising that the money is in order and that it has come from inheritance and not dealing E's in Ibiza.
In today’s world you will not be able to complete any East Sussex conveyancing transaction without first providing evidence of your identity to your lawyers. This usually takes the form of a either your passport or driving licence and a utility bill. Remember if you are providing your driving licence as evidence of ID it must be both the paper part and photo card part, one is not acceptable without the other. Establishing of your source of funds is required under Money Laundering laws.