My husband and I are acquiring a newly built flat in Mancot and my solicitor is informing me that she has to the mortgage company to disclose incentives from the builder. The Estate Agents are hassling me to sign contracts and I would rather not delay the conveyancing. Is my lawyer right?
You should not exchange unless you have been advised to do so by your conveyancer. A precondition to being on a bank 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.
I need some expedited conveyancing in Mancot as I am under pressure to exchange contracts in less than 2 weeks. Luckily I do not need a mortgage. Is it possible to avoid the conveyancing searches to save fees and time?
As you are not obtaining a home loan you have the choice not to have searches carried out although no conveyancer would recommend that you don't. Drawing on our experience of conveyancing in Mancot the following are instances of what can appear and adversely affect future saleability: Refused Planning Applications, Outstanding Fees, Outstanding Grants, Unadopted Roads,...
I bought my flat on 11 May and the transaction details is not yet on the land registry website. Need I be worried? My conveyancing solicitor in Mancot expressed confidence that it will be formalised in a couple of weeks. Are titles in Mancot uniquely lengthy to register?
As far as conveyancing in Mancot registration is no faster or slower than the rest of England and Wales. As opposed to being determined by geographic area, timescales can differ according to who lodges the application, whether there are errors and if the Land registry need to notify any 3rd parties. At present approximately three quarters of submission are completed within 12 days but occasionally there can be extensive delays. Historically registration is effected once the purchaser has moved in to the property therefore an expedited registration is not usually primary concern yet if there is a degree of urgency associated with the registration then you or your lawyers must speak with the land registry and explain the circumstances.
The estate agent has sent us the confirmation of our purchase of a new build flat in Mancot. Conveyancing is daunting 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 conveyancing.
Set out below is a sample of a few leasehold new build enquiries that you should expect your new-build leasehold conveyancing in Mancot
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Please supply a car parking plan. Where service of notices and proceedings can be at the property demised please confirm that this can be amended to include simultaneous services at the Lessees’ solicitors’ offices where the Lessee from time to time is not resident in the UK - such solicitors may be varied by notice in writing to the Landlord from time to time but otherwise will be as previously specified. The Landlord must covenant to assume the management if the Management Company goes into liquidation or otherwise defaults in running the management scheme. If there are lifts in the building, please confirm that the owners of flats on the ground and basement floors will not be required to contribute towards the cost of maintenance and renewal. Where there is an Undertaking being granted there is the risk of forfeiture of the Headlease subject to relief if one or more of the Underlessees are willing to accept the original Head Lessee’s obligations as otherwise relief will be denied to the Underlessees. The only alternatives are the Head Lessor agreeing not to forfeit the Headlease or the Head Lessee guaranteeing to the Underlessees that it will not be in breach of the Headlease.
Due to the input of my in-laws I had a survey completed on a property in Mancot ahead of instructing conveyancers. I have been advised that there is a flying freehold element to the property. Our surveyor advised that some lenders tend not give a loan on this type of property.
It varies from the lender to lender. Bank of Scotland has different requirements for example to Halifax. Should you wish to call us we can look into this further via the appropriate bank. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Mancot. Conveyancing will be smoother if you use a solicitor in Mancot especially if they are familiar with such properties in Mancot.
I have been sourcing a conveyancing lawyer in Mancot for my sale. Can I check a firm’s complaints history with the legal regulator?
You may see documented Solicitor Regulator Association (SRA) determinations resulting from investigations commenced on or after 1 January 2008. Visit Check a solicitor's record. To find details about the period before 1 January 2008, or to check a firm's record, ring 0870 606 2555, 08.00 - 18.00 any week day save for Tuesday when lines open at 9.30am. For callers outside the UK, use +44 (0)121 329 6800. The SRA sometimes monitor telephone calls for training purposes.