My partner and I are acquiring a newly constructed duplex in Henbury and my lawyer is advising me that she is duty bound to the bank to reveal incentives from the developer. I am nearing the developer’s deadline to sign contracts and I don't want 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 lender panel is to comply with the UK Finance Lenders’ Handbook specifications. The CML Conveyancing Handbook requires that your lawyer have the appropriate Disclosure of Incentive form completed by the developer and accepted by your lender.
How up to date is your search tool for Henbury conveyancing solicitors on the Bank of Ireland conveyancing panel? Do Bank of Ireland send you an updated list?
Henbury conveyancing firms themselves provide us confirmation that they are on the Bank of Ireland conveyancing panel as opposed to being supplied with a list from Bank of Ireland directly.
My Solicitor in Henbury is not listed on the Bank of Ireland Approved Panel. Is it possible for me to retain my family solicitor notwithstanding that they are excluded from the Bank of Ireland list of approved lawyers?
Your options are as follows:
- Complete the purchase with your preferred Henbury lawyers but Bank of Ireland will need to use a conveyancer on their list of acceptable firms. This will result in additional overall conveyancing charges and result in frustration.
- Get an alternative solicitor to to deal with the conveyancing, not forgetting to check they are Bank of Ireland approved.
- Persuade your Bank of Ireland solicitor to try to join the Bank of Ireland panel
I am buying a new build flat in Henbury. Conveyancing is a frightening process 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 legal work.
Set out below is a sample of a few leasehold new build questions that you should expect your new-build leasehold conveyancing in Henbury
-
Please supply evidence that the form of Lease proposed has been approved by the Land Registry. 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. Has the Lease plan been approved by the Land Registry and if not when will they be lodged for this purpose? There must be mutual enforceability of lessee’s covenants.
I have been on the look out for a ground for flat up to £245,000 and found one round the corner in Henbury I like with a park and transport links nearby, however it's only got 51 remaining years left on the lease. There is not much else in Henbury suitable, so just wondered if I would be making a grave error purchasing a lease with such few years left?
Should you require a mortgage the shortness of the lease will be a potential deal breaker. Discount the offer by the amount the lease extension will cost if it has not already been discounted. If the current proprietor has owned the premises for at least 2 years you could ask them to commence the lease extension formalities and then assign it to you. An additional ninety years can be extended on to the current lease with a zero ground rent applied. You should consult your conveyancing solicitor regarding this matter.
What tools are available to identify a Henbury law firm on the Norwich and Peterborough Building Society conveyancing panel? I am a keen cyclist and am willing to travel upto 25kilometers to meet the solicitor.
Feel free to make use of the facility on this page. Please select a bank and your location and you will see a number of Henbury conveyancing lawyers locally. We have detailed some Henbury conveyancing firms towards the end of this page and you can call them to see if they are on the Norwich and Peterborough Building Society panel