I am purchasing a newly constructed flat in Hayling Island and my solicitor is telling me that she is duty bound to the bank to reveal incentives from the seller. I am under pressure to exchange contracts and I don't want to 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 mortgage company 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.
As someone not used to conveyancing in Hayling Island what’s the number one tip you can impart concerning the ownership transfer in Hayling Island
Not many law firms or advisers will tell you this but conveyancing in Hayling Island and elsewhere in Hampshire is an adversarial process. Put another way, when it comes to conveyancing there exists plenty of opportunity for confrontation between you and other parties involved in the transaction. For example, the seller, selling agent and even potentially the bank. Appointing a solicitor for your conveyancing in Hayling Island should not be taken lightly as your conveyancer is your adviser, and is the SOLE party in the legal process whose interest is to act in your legal interests and to protect you.
Every so often a third party with a vested interest will attempt to persuade you that it is in your interests to do things their way. For example, the estate agent may claim to be assisting by claiming that your lawyer is slow. Or your mortgage broker may advise you to do take action that is contrary to your solicitors recommendation. You should always trust your lawyer above all other parties in the home moving process.
I have a decision in principle. The bank mentioned the loan came with free conveyancing. Is the implication that I have to use their panel solicitor as I would prefer to appoint a Hayling Island based conveyancing firm?
Do check but the the probability is that appoint one of their panel lawyers should you take up the "fee-free" deal. Call the bank and ask if they allow a cash alternative. In the past a few mortgage companies offered a £250 cashback as an alternative in which case you could put that amount towards your preferred conveyancing solicitor in Hayling Island.
I moved into my home on 14 September and the transaction details is yet to be registered. Should I be concerned? My conveyancing solicitor in Hayling Island expressed confidence that it will be dealt with inside ten days. Are transfers in Hayling Island uniquely lengthy to register?
There is nothing unique when it comes to conveyancing in Hayling Island registration formalities. As opposed to being determined by geographic area, timeframes can differ depending on the party submitting the application, whether it is in order and if the Land registry need to notify any third parties. Currently roughly 80% of such applications are fully dealt with in less than three weeks but occasionally there can be longer delays. Registration occurs once the purchaser has moved in to the property so an expedited registration is not always top priority but if it is urgent that the the registration takes place urgently then you or your solicitor can communicate with the Registry to express the reasoning for an expedited registration.
I have been pointed in your direction by a number of estate agents in Hayling Island to choose a property lawyer using your seach tool. Is there a financial advantage for Estate Agents to market your site ahead of alternative conveyancing organisations?
We refuse to give any commission for sending work our way. We thought it would be too underhand to pay a commission as members of the public would think, ‘How come the agent getting a kickback? Why am I not getting any benefit too?’ So we decided to step away from that.
We're first time buyers - agreed a price, but the selling agent told us that the seller will only proceed if we instruct their recommended lawyers as they want a ‘quick sale’. My instinct tells me that we should use a high street conveyancer used to conveyancing in Hayling Island
We suspect that the seller is unaware of this demand. If they desire ‘a quick sale', turning down a genuine buyer is likely to cause more damage than good. Bypass the agents and go straight to the sellers and make sure they understand (a)you are keen to buy (b)you are excited to move forward, with mortgage lined up © you have nothing to sell (d) you intend to proceed fast (e)however you are going to use your preferred Hayling Island conveyancing solicitors - rather thanthe ones that will give the estate agent a introducer fee or achieve conveyancing targets set by corporate headquarters.