We are purchasing a newly built apartment in Llangammarch Wells and my solicitor is informing me that she has to the mortgage company to reveal incentives from the developer. The Estate Agents are hassling me to exchange 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 conveyancing practitioner. A precondition to being on a lender 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.
Why do I have to pay up front for my conveyancing in Llangammarch Wells?
If you are buying a property in Llangammarch Wells your lawyer will request that you put them with funds to cover the search fees. This will be the total of the cost of the Local Authority Search. If any down payment is as part of the total price then this will be asked for shortly before exchange of contracts. Any further balance that is due will be payable shortly before completion.
I am told that my conveyancing solicitors will need to check that the building insurance when buying a house in Llangammarch Wells. My lender is The Mortgage Works
The Mortgage Works have specific requirements as set out in the UK Finance Lenders’ Handbook. As of 25/7/2025, the requirements read as follows :
Is it necessary to pay for insurance to protect me from financial exposure to chancel repairs when purchasing a property in Llangammarch Wells?
Unless a previous acquisition of the premises completed after 12 October 2013 you may assume that conveyancing practitioners handling conveyancing in Llangammarch Wells to continue to recommend a chancel search and or insurance against a claim.
Are there restrictive covenants that are commonly identified as part of conveyancing in Llangammarch Wells?
Covenants that are restrictive in nature can be picked up when reviewing land registry title as part of the process of conveyancing in Llangammarch Wells. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
How does conveyancing in Llangammarch Wells differ for new build properties?
Most buyers of new build premises in Llangammarch Wells contact us having been asked by the developer to sign contracts and commit to the purchase even before the residence is finished. This is because new home sellers in Llangammarch Wells usually buy the land, 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 conveyancers 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 used to new build conveyancing in Llangammarch Wells or who has acted in the same development.