My husband and I are purchasing a brand new flat in Long Eaton and my solicitor is telling me that she has to the bank to reveal incentives from the developer. I am on a tight deadline to sign contracts and I don't want to delay matters. 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 mortgage company 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.
Will lawyers request an advanced payment when it comes to conveyancing in Long Eaton?
Where you are retaining lawyers for conveyancing in Long Eaton your solicitor will ask you to provide them with monies to cover the search fees. This will be the total of the cost of the conveyancing searches. When the down payment is as part of the total price then this will be required immediately ahead of contracts are exchanged. The closing balance that is due should be transferred shortly before completion.
I am close to exchanging contracts on the sale of our home in Long Eaton and the buyers lawyers are claiming that there is a possibility that the property was built land that was not decontaminated. A local lawyer would know this is not the case. For the life of me I don't know why the buyers are using a factory type conveyancing firm as opposed to a conveyancing solicitor in Long Eaton. Having lived in Long Eaton for three years we know that this is a non issue. Is it a good idea to contact our local Authority to seek clarification that there is no issue.
It would appear that you have a conveyancing lawyer already. What do they say? You must check with 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 health insurance to cover that same sickness)
2 months have elapsed since my purchase conveyancing in Long Eaton completed. I have checked the Land Registry website which shows that I paid £150,000 when infact I paid £180,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the asset from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
How does conveyancing in Long Eaton differ for newly converted properties?
Most buyers of new build residence in Long Eaton contact us having been asked by the developer to sign contracts and commit to the purchase even before the residence is built. This is because new home sellers in Long Eaton usually acquire 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 Long Eaton or who has acted in the same development.
I'm refinancing my existing home to a buy to let mortgage with Skipton Building Society and intend to use the remaining equity as a deposit on another property. The area we are looking at is Long Eaton. Will your solicitors be able to act for both sets of mortgage companies and link together the conveyances?
Do use our search tool on this site to ensure that the conveyancers are on the appropriate lender panels. On the basis that they are your lawyer will be able to simultaneously deal with the two transactions but you should have a chat with you solicitor and make apparent your expectations and needs.