We are acquiring a brand new flat in Forest Gate and my lawyer is informing me that she is duty bound to the lender to disclose incentives from the developer. I am on a tight deadline to exchange and I would rather not prolong the conveyancing. is my lawyer playing by the book?
You should not exchange unless you have been advised to do so by your solicitor. A precondition to being on a bank 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.
The estate agent has sent us the confirmation of our purchase of a new build flat in Forest Gate. Conveyancing is daunting at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build conveyancing.
Here are examples of a selection of leasehold new build enquiries that you can expect your new-build leasehold conveyancing in Forest Gate
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Please confirm the Lease plans are surveyor prepared. Will control of the Management Company (if any) be handed over to purchasers on completion of the last sale or earlier? Please supply a car parking plan. Investor purchasers must be able to freely grant unsecured tenancies at market rents without requiring any consents.
Over the last few months I have been searching for a leasehold apartment up to £305k and identified one near me in Forest Gate I like with a park and railway links nearby, the downside is that it's only got 52 remaining years left on the lease. There is not much else in Forest Gate suitable, so just wondered if I would be making a grave error acquiring a lease with such few years left?
If you need a mortgage the remaining unexpired lease term will likely be a potential deal breaker. Discount the offer by the amount the lease extension will cost if not already taken into account. If the existing owner has owned the premises for a minimum of 2 years you may ask them to start the process of the extension and pass it to you. An additional ninety years can be extended on to the current lease and have £0 ground rent by law. You should speak to your conveyancing solicitor regarding this.
I was pointed in your direction by three or four local estate agents in Forest Gate to get a quote from a conveyancer on your site. What’s the financial upside for Estate Agents to promote your site rather than alternative conveyancing organisations?
We don’t make any referral fee for directing people to this site. We found it would be just too difficult a fee as members of the public would think, ‘How come the agent getting a kickback? Why aren’t I getting any benefit too?’ We would prefer to grow our business on genuine recommendations.
As co-executor for the estate of my grandmother I am disposing of a property in Monmouth but reside in Forest Gate. My lawyer (who is 200 miles awayhas requested that I sign a statutory declaration ahead of completion. Could you suggest a conveyancing practitioner in Forest Gate 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 or notary public or qualified solicitor will be fine regardless of whether they are based in Forest Gate
How up-to-date is your database of lawyers on the lender conveyancing panel in Forest Gate? Do the mortgage companies send you an updated list?
Forest Gate firms and firms carrying out conveyancing in Forest Gate themselves provide us confirmation that they are on the lender conveyancing panel as opposed to being supplied with a list from the lender directly.