My husband and I are buying a newly constructed apartment in Gotham and my conveyancer is informing me that she is duty bound to the mortgage company to reveal incentives from the seller. The Estate Agents are hassling me to exchange and my preference is not to delay matters. is my lawyer playing by the book?
You should not exchange unless you have been advised to do so by your property lawyer. A precondition to being on a mortgage company 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.
Having sold my house in Gotham last May yet the purchaser is telephoning me to moan that their lawyer is waiting to hear from myconveyancer. What should my lawyer have done now that I have sold?
Following your sale your solicitor should send the transfer deeds and all additional paperwork to the buyer’s solicitors. Depending on the transaction, your solicitor must also evidence that the home loan has been repaid to the buyers solicitors. There are no post completion requirements unique to conveyancing in Gotham.
I am purchasing a flat and require a conveyancing solicitor in Gotham who is on the HSBC Bank conveyancing. Could you point me in the right direction as regards a firm?
Our service is limited to being a directory service for firms who wish to listed as being on the approved conveyancing panel for HSBC Bank in certain locations such as Gotham. We dont recommend any particular firm.
is it true that all Gotham solicitor firms on the Nottingham conveyancing panel are overseen by the SRA?
As solicitors, in order to be on the Nottingham approved list of solicitors they would need to be overseen by the SRA. Some banks do allow licenced conveyancers on their panel and in that case the organisation would be governed by the CLC.
We expect to receive a DIP from Nottingham this week so we can work out what to offer on a property we like as otherwise we are dependent on web based calculators (which aren't taking into account credit checks etc). Do Nottingham recommend any Gotham solicitors on the Nottingham conveyancing panel, or is it better to go independently?
You will need to appoint Gotham solicitors independently although you'll need to choose one on the Nottingham conveyancing panel. The solicitor represents both you and Nottingham through the process.
I am selling my house. I had a double glazing fitted in October 2006, but did not receive a FENSA certificate or Building Regulation Certificate. My purchaser’s lender, Clydesdale are being difficult. The Gotham solicitor who is on the Clydesdale conveyancing panel is recommending indemnity insurance as a solution but Clydesdale are requiring a building regulation certificate. Why do Clydesdale have a conveyancing panel if they don't accept advice from them?
It is probably the case that Clydesdale have referred the matter to their valuer. The reason why Clydesdale may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing was correctly and safely installed. The indemnity insurance merely protects against enforcement action which is very unlikely anyway.
How does conveyancing in Gotham differ for new build properties?
Most buyers of new build or newly converted property in Gotham contact us having been asked by the builder to exchange contracts and commit to the purchase even before the premises is completed. This is because new home sellers in Gotham usually purchase 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 property lawyers 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 Gotham or who has acted in the same development.
What can I expect to pay for conveyancing in Gotham?
The amount you are levied for Gotham conveyancing charges are likely to be calculated at:
- a standard amount; or
- on a time spent basis (i.e. the time spent on the particular case).
These days you seldom hear of Gotham conveyancing companies invoice on an hourly basis