My wife and I are acquiring a newly constructed flat in Rothbury and my conveyancer is advising me that she is duty bound to the bank to reveal incentives from the developer. The Estate Agents are hassling me to sign contracts and I would rather not delay matters. is my lawyer playing by the book?
You should not exchange unless you have been advised to do so by your property lawyer. A precondition to being on a bank 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.
Can I use your services to find a Conveyancing solicitor in Rothbury even where I’m not purchasing or selling a house, for example if I want to acquire a shop in Rothbury with a loan from Platform Home Loans Ltd?
Our comparison service is predominantly there to find residential conveyancing solicitors in Rothbury but we have listed towards the end of this page a selection of Rothbury commercial conveyancing firms. You will need to speak with the solicitors directly to establish if they can also act for Platform Home Loans Ltd
My bid for a property was accepted at auction in Rothbury. Conveyancing is necessary. What is next?
Given that you have now for in every practical sense signed on the dotted line you must appoint a conveyancing solicitor as a matter of priority as you now have a tight a drop dead date to complete the conveyancing. All auction property should have an associated legal set of papers. This should include the copy title deeds, local authority and drainage searches. In the case of leasehold property the legal papers may provide a copy of the lease, management information and a sellers leasehold information form and associated conveyancing paperwork specific to leasehold premises. You need to give this to your appointed conveyancing solicitor ASAP. Do make sure that that you have the requisite funding in order to complete on the date specified in the contract.
I have decided to exercise my right to buy my property in Rothbury off the council. I have a mortgage offer with Virgin Money. Conveyancing is not something I have any knowledge of. Can I proceed without a solicitor easily? I think we can but we keep being told I should use one. Any advice?
It is not advisable to proceed with a house purchase without a solicitor. The council's solicitor are not acting for you. You need a solicitor for a number reasons. One of which is to verify what plans the Council have for repairs and refurbishment for the next five years. Many leaseholders have been stung for contributions of thousands of pounds. In any event, if you are getting a mortgage with Virgin Money, you will need to appoint a solicitor on the Virgin Money conveyancing panel.
I have instructed a Rothbury lawyer having checked that they are on the Clydesdale conveyancing panel. Does my lawyer arrange the survey of the property?
Clydesdale will need an independent valuation of the property. Your lawyer will not arrange this. Usually Clydesdale will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey. Your solicitor will not organise the survey but they may be able to put you in touch with a local one that they recommend. RICS offers a find a surveyor service (just google it) where you can search for a qualified surveyor by your Rothbury postcode. As you are getting a mortgage with Clydesdale, you could contact them to see if they have a list of approved surveyors in Rothbury.
Is it necessary to take out insurance to protect me from financial exposure to chancel repairs when buying a residence in Rothbury?
Unless a previous acquisition of the premises took place post 12 October 2013 you can expect lawyers conducting conveyancing in Rothbury to remain encouraging a chancel search and or chancel repair liability policy.
I moved into my apartment on 4 September and my personal details is yet to be on the land registry website. Need I be worried? My conveyancing solicitor in Rothbury said it will be formalised in less than a month. Are properties in Rothbury uniquely lengthy to register?
There is nothing unique when it comes to conveyancing in Rothbury registration formalities. Rather than based on location, timeframes can adjust subject to who lodges the application, whether there are errors and if the Land registry communicate with any interested parties. At present in the region of 80% of such applications are completed in less than three weeks but some can be subject to extensive hold-ups. Historically registration is effected after the purchaser is living at the premises thus an expedited registration is not usually primary concern but where it is urgent that the the registration takes place urgently then you or your solicitor could contact the land registry and explain the circumstances.
I'm buying my first flat in Rothbury with a mortgage from Aldermore. The developers would not budge the amount so I negotiated £7000 of extras instead. The sale representative suggested that I not inform my solicitor about this side-deal as it will adversely affect my mortgage with the bank. 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.