My partner and I are purchasing a new build duplex in Miles Platting and my solicitor is informing me that she has to the lender to reveal incentives from the developer. I am on a tight deadline to exchange contracts and my preference is not 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 conveyancer. A precondition to being on a mortgage company 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.
It is a dozen years since I acquired my home in Miles Platting. Conveyancing solicitors have recently been retained on the sale but I am unable to locate my title documents. Will this cause complications?
Don’t worry too much. Firstly there is a possibility that the deeds will be retained by your mortgage company or they could be archived with the conveyancers who handled your purchase. Secondly the chances are that the property will be registered at the land registry and you will be able to prove you are the registered owner by your conveyancing lawyers procuring current official copies of the land registers. The vast majority of conveyancing in Miles Platting relates to registered property but in the rare situation where your property is not registered it is more problematic but is resolvable.
We are close to exchanging contracts on the sale of our home in Miles Platting and the buyers lawyers are claiming that there is a possibility that the property was constructed land that was not decontaminated. Any high street Miles Platting lawyer would know that there is no such problem. It does beg the question why the buyers instructed a nationwide conveyancing firm rather than a conveyancing solicitor in Miles Platting. We have lived in Miles Platting for 5 years we know that this is a non issue. Should we get in touch with our local Authority to get confirmation that there is no issue.
It sounds as though you may have a conveyancing solicitor already. Are they able to advise? You should 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 ailment)
I'm buying a new build house in Miles Platting with the aid of help to buy. The developers refused to reduce the price so I negotiated 6k of additionals instead. The sale representative suggested that I not to tell my lawyer about this deal as it could adversely affect my mortgage with Virgin Money. Do I keep my lawyer in the dark?.
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 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.
My husband and I are FTB’s - agreed a price, yet the agent told us that the vendor will only proceed if we instruct their preferred solicitors as they want an ‘expedited deal’. Our preferred option is to instruct a family solicitor used to conveyancing in Miles Platting
It is highly unlikely the vendors are driving this. If they desire ‘a quick sale', alienating a genuine buyer is not the way to achieve this. Speak to the owners direct and make sure they understand (a)you are genuine purchasers (b)you are ready to go, with finances in place © you do not need to sell (d) you intend to proceed fast (e)however you intend to use your preferred Miles Platting conveyancing lawyers - as opposed tothose that will provide their estate agent a commission or meet his conveyancing targets pre-set by HQ.
I am buying a flat with all finances in place. My solicitor has been given with 2 distinct forms of photographic identification, bank statement, endless utility bills. Now he requires a copy from a probate lawyer stating that the money is in order and that it has come from inheritance and not via illegitimate means.
For some years now requires conveyancing solicitors as well as banks, building societies and other financial institutes to obtain satisfactory evidence of the identity of the client. This is because solicitors who deal with money and property on behalf of their clients can be used by criminals wishing to launder money. In order to comply with the law of money laundering, your Miles Platting conveyancing lawyer will need to obtain evidence of your identity as as well as make sure that your funds are legitimate.