My wife and I are acquiring a newly built flat in Midsomer Norton and my lawyer is informing me that she has to the lender to disclose incentives from the seller. I am under pressure to exchange contracts and my preference is not to prolong the conveyancing. Is my lawyer right?
You should not exchange unless you have been advised to do so by your lawyer. A precondition to being on a bank panel is to comply with the UK Finance Lenders’ Handbook requirements. 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 own a freehold residence in Midsomer Norton but still pay rent, why is this and what is this?
It is rare for properties in Midsomer Norton and has limited impact for conveyancing in Midsomer Norton but some freehold properties in England (particularly common in North West England) pay an annual sum known as a Chief Rent or a Rentcharge to a third party who has no other legal interest in the land.
Rentcharge payments are usually between £2.00 and £5.00 per year. Rentcharges date back hundreds of years, but the Rent Charge Act 1977 barred the creation of new rentcharges post 1977.
Previous rentcharges can now be redeemed by making a one off payment under the Act. Any rentcharges that are still in existence after 2037 will be extinguished.
Is it the case that all Midsomer Norton solicitor practices on the Yorkshire BS conveyancing panel are governed by the SRA?
As solicitors, in order to be on the Yorkshire BS approved list of solicitors they would need to be governed by the SRA. Some banks do allow licenced conveyancers on their panel and in such a situation the firms would be overseen by the CLC.
We are getting the release of further funds on our mortgage from Principality as we want to conduct alterations to our house in Midsomer Norton. Do we need to choose a bricks and mortar Midsomer Norton solicitor on the Principality conveyancing panel to handle the paperwork?
Principality do not ordinarily instruct a member of their approved list of lawyers to deal with the formalities. If they do require any legal work then you would need to ensure that such a lawyer was on the Principality panel.
I had an offer accepted on an apartment in Midsomer Norton on 6/10/2025, valuation was booked 3 days after, all came back fine. Conveyancer appointed, so all that was missing was my mortgage offer. Having made daily calls to RBS and chasing them on my offer, I have now been told that my offer will not be issued unless the lawyer is on the RBS conveyancing panel. Are RBS entitled to hold back the Mortgage pending the lawyer being on the approved list?
A lender would not issue a mortgage until they have details of a lawyer on their panel. It can take a few weeks for RBS to deal with your lawyer's application to be on the RBS conveyancing panel. There's no guarantee that your solicitor will be accepted.
I have been told that property searches are the primary reason for hinderance in Midsomer Norton house deals. Is that correct?
The Council of Property Search Organisations (CoPSO) published determinations of research by MoveWithUs that conveyancing searches do not figure within the most frequent causes of delays in the conveyancing process. Searches are not likely to feature in any slowing down conveyancing in Midsomer Norton.
I am purchasing my first flat in Midsomer Norton benefiting from help to buy. The developers refused to budge the amount so I negotiated £7000 of extras instead. The estate agent suggested that I not disclose to my conveyancer about the side-deal as it may impact my loan with the lender. Should I keep quiet?.
All lenders require a Disclosure of Incentives Form from the developer of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML 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.
In scouring the internet for the phrase cheap conveyancing in Midsomer Norton it reveals numerous conveyancerslocally. With so much choice what is the best way to find the suitable conveyancer for my move?
The best method of finding a suitable conveyancer is via trusted recommendation, so ask colleagues and those you trust who have bought a property in Midsomer Norton or the local estate agent or mortgage broker. Costs for conveyancing in Midsomer Norton differ, so it's a good idea to obtain at least three estimates from different solicitors. Be sure to obtain confirmation what costs in the quote includes.