My husband and I are buying a newly built flat in Erith and my conveyancer is informing me that she is duty bound to the lender to reveal incentives from the developer. I am under pressure to exchange and I have no desire to delay deal. is my lawyer playing by the book?
You should not exchange unless you have been advised to do so by your conveyancing practitioner. A precondition to being on a bank 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.
I require quick conveyancing in Erith as I am under pressure to complete inside one month. Thankfully I do not require a mortgage. Can I avoid the conveyancing searches to save money and time?
As you are are a mortgage free purchaser you have the choice not to do searches although no law firm would advise that you don't. Drawing on years of experience of conveyancing in Erith the following are instances of issues that can show up and adversely impact future saleability: Refused Planning Applications, Outstanding Fees, Overdue Grants, Unadopted Roads,...
How does conveyancing in Erith differ for newly converted properties?
Most buyers of new build premises in Erith approach us having been asked by the developer to exchange contracts and commit to the purchase even before the property is built. This is because house builders in Erith tend to 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 Erith or who has acted in the same development.
Over the last few months I have been searching for a ground for flat up to £235,500 and identified one close by in Erith I like with amenity areas and station in the vicinity, however it's only got 52 years on the lease. I can't really find anything else in Erith for this price, so just wondered if I would be making a grave error buying a short lease?
If you need a home loan that many years may be problematic. Reduce the offer by the amount the lease extension will cost if it has not already been discounted. If the existing owner has owned the premises for a minimum of twenty four months you can request that they commence the lease extension formalities and pass it to you. An additional ninety years can be extended on to the current lease with a zero ground rent applied. You should speak to your conveyancing lawyer about this.
What does commercial conveyancing in Erith cover?
Erith conveyancing for business premises covers a wide array of services, supplied by regulated solicitors, relating to business premises. By way of example, this area of conveyancing can cover the sale or purchase of freehold business premises or, more usually, the transfer of existing leases or the drafting of new leasing arrangements. Commercial conveyancing solicitors can also offer advice on the sale of business assets, commercial loans and the termination of leases.
Me and my partner are hoping to buy a 2 bedroom flatin Erith with a home loan from a mortgage company. We have a conveyancer in Erith yet our bank says he's not on their "panel". Apparently we need to choose from the our bank panel firms or stay with our Erith solicitor and incur the extra legals for one of their panel ones to represent them. We feel as though this is unjust; Can we not simply insist that our bank use our Erith lawyer?
No, not really. The mortgage company mortgage issued is subject to conditions, one of which will be that solicitors will on the lender's conveyancing panel. Until recently, most mortgage companies had open panels, including most conveyancing solicitors in Erith : a borrower could choose one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. A further alternative is for your solicitors to apply to be on the conveyancing panel for your lender.