My husband and I are acquiring a brand new apartment in Lambeth and my conveyancer is telling me that she is duty bound to the bank to disclose incentives from the developer. The Estate Agents are hassling me to sign contracts and I would rather not prolong deal. is my lawyer playing by the book?
You should not exchange unless you have been advised to do so by your lawyer. A precondition to being on a mortgage company panel is to comply with the UK Finance Lenders’ Handbook specifications. The UK Finance Conveyancing Handbook requires that your lawyer have the appropriate Disclosure of Incentive form completed by the developer and accepted by your lender.
I am intent on selling our property in Lambeth and the buyers lawyers are claiming that there is a risk of it being built on contaminated land. A local lawyer would know that there is no such problem. For the life of me I don't know why the purchasers used a nationwide conveyancing outfit rather than a conveyancing solicitor in Lambeth. Having lived in Lambeth for many years we know that this is a non issue. Should we get in touch with our local Authority to get confirmation that the buyers are looking for.
It would appear that you have a conveyancing lawyer already. What do they say? You should enquire of your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out life insurance to cover that same ailment)
I own a terraced Victorian property in Lambeth. Conveyancing solicitor acted for me and Bank of Ireland. I did a free Land Registry search last week and I saw a couple of entries: the first freehold, another for leasehold with the exact same property. I'd like to know for sure, how can I find out??
You should review the Freehold register you have again and check the Charges Register as there may be mention of a lease. The best way to be sure that you are also the registered owner of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Lambeth and other areas of the country and poses no real issues for owners other than when they mortgage they have to account for both freehold and leasehold interests when dealing with mortgage companies. You can also check the position with the conveyancing solicitor who completed the work.
I'm buying a new build house in Lambeth with a loan from Nationwide Building Society. The builders refused to budge the price so I negotiated 6k of additionals instead. The property agent advised me not reveal to my solicitor about this deal as it may jeopardize my loan with the lender. Should I keep quiet?.
All lenders require a Disclosure of Incentives Form from the builder of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the UK Finance website. UK Finance form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
Due to the encouragement of my in-laws I had a survey completed on a house in Lambeth before retaining lawyers. I have been informed that there is a flying freehold overhang to the house. Our surveyor advised that some lenders will not issue a mortgage on this type of home.
It varies from the lender to lender. HSBC has different instructions for example to Halifax. If you call us we can check via the relevant lender. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Lambeth. Conveyancing will be smoother if you use a solicitor in Lambeth especially if they are accustomed to such properties in Lambeth.
I am thinking of appointing a conveyancing lawyer in Lambeth for my home move. Can I review a firm’s complaints history with the legal regulator?
You may review presented Solicitor Regulator Association (SRA) decisions arising from investigations from 2008 onwards. Visit Check a solicitor's record. For records about the period before 1 January 2008, or to check a firm's record, telephone 0870 606 2555, 08.00 - 18.00 any week day save for Tuesday when lines open at 9.30am. International callers, call +44 (0)121 329 6800. The regulator could recorded telephone calls for training reasons.