My partner and I are purchasing a newly built duplex in Havant and my solicitor is informing me that she has to the bank to reveal incentives from the builder. I am under pressure to sign contracts and my preference is not to delay deal. Is my lawyer right?
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.
What does my ID and proof of funds have anything to do with my conveyancing in Havant? Is this really warranted?
Anti-terror and anti-money-laundering laws require solicitors and licensed conveyancers to check the ID of the person or body they are dealing with before they can accept their conveyancing retainer. The Terms and Conditions that you are required to sign will no doubt stipulate this. Your lawyer also has obligations to obtain certain documents in accordance with the CML Lenders Handbook requirements last updated on 1st December 2014. Should you refuse to hand over ID verification documents, your lawyer would not be able to accept instructions from you.
I have an AIP. The bank mentioned the home loan came with free conveyancing. Does this mean I have to instruct their panel solicitor as I would prefer to use a local conveyancing solicitor in Havant?
Do check but the chances are that appoint one of their panel lawyers where you take up the "fee-free" offer. Contact the bank and check if they make available a monetary alternative. It is not unheard for a lender to give a £250 cashback as a further option in which case you could put that amount towards the cost for your conveyancing solicitor near Havant.
Should my conveyancer be raising questions regarding flooding during the conveyancing in Havant.
The risk of flooding is if increasing concern for conveyancers specialising in conveyancing in Havant. Plenty of people will buy a property in Havant, completely aware that at some time, it may be flooded. However, aside from the physical destruction, if a house is at risk of flooding, it may be difficult to get a mortgage, adequate building insurance, or sell the premises. Steps can be carried out during the course of a property purchase to forewarn the purchaser.
Solicitors are not qualified to give advice on flood risk, however there are a numerous checks that may be carried out by the buyer or by their lawyers which should give them a better appreciation of the risks in Havant. The conventional set of property information forms sent to a purchaser’s conveyancer (where the solicitors are adopting what is known as the Conveyancing Protocol) contains a standard question of the seller to find out if the premises has suffered from flooding. If the property has been flooded in past and is not disclosed by the vendor, then a purchaser could bring a claim for damages stemming from an misleading reply. The purchaser’s solicitors should also order an enviro search. This will reveal if there is any known flood risk. If so, more detailed inquiries should be carried out.
Yesterday I discovered that there is a flying freehold issue on a house I put an offer in last month in what was supposed to be a straight forward, chain free conveyancing. Havant is the location of the property. Is there any advice you can impart?
Flying freeholds in Havant are not the norm but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Havant you would need to get your solicitor to go through the deeds very carefully. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Havant may determine that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold residence.
I am thinking of appointing a conveyancing practitioner in Havant for my purchase. Is it possible to review a solicitor's complaints history with the legal regulator?
You can search for documented Solicitor Regulator Association (SRA) decisions resulting from investigations from 2008 onwards. Go to Check a solicitor's record. To find records Pre 2008, or to check a firm's history, ring 0870 606 2555, 08.00 - 18.00 any week day save for Tuesday when lines open at 9.30am. International callers, dial +44 (0)121 329 6800. The SRA could recorded telephone calls for training purposes.