My husband and I are purchasing a brand new apartment in Fordingbridge and my conveyancer is informing me that she has to the bank to reveal incentives from the seller. I am on a tight deadline to exchange contracts and my preference is not to prolong the conveyancing. Is my lawyer right?
You should not exchange unless you have been advised to do so by your property lawyer. A precondition to being on a lender panel is to comply with the UK Finance Lenders’ Handbook requirements. 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 purchased a freehold house in Fordingbridge yet charged rent, why is this and what is this?
It’s unusual for properties in Fordingbridge and has limited impact for conveyancing in Fordingbridge but some freehold properties in England (particularly common in North West England) pay an annual sum known as a Chief Rent or a Rentcharge to a third party who has no other legal interest in the land.
Rentcharge payments are usually between £2.00 and £5.00 per year. Rentcharges date back hundreds of years, but the Rent Charge Act 1977 barred the creation of new rentcharges post 1977.
Previous rentcharges can now be extinguished by making a lump sum payment under the Act. Any rentcharges that are still in existence after 2037 will be extinguished.
Do commercial conveyancing searches disclose proposed roadworks that could impact a commercial site in Fordingbridge?
Its becoming the norm that commercial conveyancing solicitors in Fordingbridge will order a SiteSolutions Highways report as it reduces the time that conveyancers expend in sourcing accurate data on highways that impact buildings and development assets in Fordingbridge. The search result provides definitive information on the adoption status of roads, footpaths and verges, as well as the implication of traffic schemes and the rights of way surrounding a commercial development sites in Fordingbridge.
For every commercial conveyancing transaction in Fordingbridge it is critical to investigate the adoption status of roads surrounding a site. The absence of identifying developments where adoption procedures have not been addressed adequately can result in delays to Fordingbridge commercial conveyancing transactions as well as present a risk to future plans for the site. These searches are not carried out for domestic conveyancing in Fordingbridge.
How does conveyancing in Fordingbridge differ for new build properties?
Most buyers of new build premises in Fordingbridge come to us having been asked by the builder to exchange contracts and commit to the purchase even before the residence is finished. This is because developers in Fordingbridge 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 conveyancing solicitors 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 Fordingbridge or who has acted in the same development.
Am I right to be wary that brokers that I am dealing with are suggesting an online conveyancing firm rather than a local Fordingbridge conveyancing firm?
As with lots of service providers, often referrals from connections can be extremely useful or valuable. But there are lots of players in a conveyancing deal; estate agents, financial adviser and lenders may suggest lawyers to instruct. On occasion the solicitors might be known to one of the organisations as being good in their field, but occasionally there exists a financial incentive behind the endorsement. You have the right to choose your preferred lawyer. However, bear in mind that most banks have an approved list of lawyers you must use for the lender related work in your house move.
As co-executor for the estate of my aunt I am disposing of a property in Newport but reside in Fordingbridge. My solicitor (approximately 300 miles awayneeds me to sign a statutory declaration before completion. Could you suggest a conveyancing lawyer in Fordingbridge who can witness and place their company stamp on the document?
Technically speaking you should not need to have the documents attested by a conveyancing solicitor. Normally any notary public or solicitor will do regardless of whether they are located in Fordingbridge