My wife and I are acquiring a newly constructed duplex in Nuneaton and my solicitor is telling me that she has to the lender to disclose incentives from the developer. The Estate Agents are hassling me to sign 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 solicitor. 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.
What happens if my solicitor is suspended from the Lloyds Conveyancing panel ahead of completing my conveyancing in Nuneaton?
First, this is a very rare occurrence. In most cases even where a law firm is removed off of a panel the lender would allow the completion to go ahead as the lender would appreciate the difficulties that they would place you in if you have to instruct a new solicitor days before completion. In a worst case scenario where the lender insists that you instruct a new firm then it is possible for a very good lawyer to expedite the conveyancing albeit that you may pay a significant premium for this. The analogous situation is where a buyer instructs a lawyer, exchanges contracts and the law firm is shut down by a regulator such as the SRA. Again, in this situation you can find lawyers who can troubleshoot their way to bring the conveyancing to a satisfactory conclusion - albeit for a fee.
I need some fast conveyancing in Nuneaton as I am under a deadline to sign on the dotted line within one month. A home loan is not required. Is it possible to escape the need for conveyancing searches to save money and time?
If.Given you are are a cash buyer you are at free not to do searches although no lawyer would recommend that you don't. With lots of history conveyancing in Nuneaton the following are examples of what can arise and therefore affect the marketability of the property: Refused Planning Applications, Overdue Fees, Overdue Grants, Railway Schemes,...
I have todaydiscovered that Wolstenholmes have closed. They carried out my conveyancing in Nuneaton for a purchase of a leasehold flat 18 months ago. How can I be sure that the property is not still registered in the name of the previous owner?
The easiest way to check if the premises is registered to you, you can carry out a search of the land registry (£3.00). You can either do this yourself or ask a law firm to do this for you. If you are not registered you can seek help from one of a number of Nuneaton conveyancing specialists.
I have been on the look out for a leasehold apartment up to £305k and found one round the corner in Nuneaton I like with a park and transport links in the vicinity, however it only has 51 years unexpired on the lease. I can't really find anything else in Nuneaton suitable, so just wondered if I would be making a mistake purchasing a lease with such few years left?
If you require a home loan the remaining unexpired lease term will likely be an issue. Reduce the offer by the anticipated lease extension will cost if it has not already been discounted. If the existing owner has owned the premises for at least 2 years you could request that they commence the lease extension formalities and pass it to you. You can add 90 years to the current lease and have £0 ground rent by law. You should consult your conveyancing solicitor regarding this matter.
Is it best to instruct a Nuneaton conveyancing practitioner in close proximity to the house I am buying? I have an old university friend who can handle the legal formalities but his firm is located 200kilometers drive away.
The primary upside of using a high street Nuneaton conveyancing practice is that you can attend the office to sign paperwork, present your ID and pester them if necessary. They will also have local insight which is a benefit. That being said nothing is more important than finding someone that will do a good and efficient job. If other friends have instructed your friend and they were content that should surpass using an unknown Nuneaton conveyancing solicitor solely due to them being round the corner.