My husband and I are purchasing a brand new flat in Sawbridgeworth and my lawyer is advising me that she has to the mortgage company to disclose incentives from the developer. I am nearing the developer’s deadline to exchange contracts and my preference is not to 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 mortgage company panel is to comply with the UK Finance Lenders’ Handbook specifications. The UK Finance Conveyancing Handbook requires that your lawyer have the appropriate Disclosure of Incentive form completed by the developer and accepted by your lender.
I am helping my sister sell her house in Sawbridgeworth. Will the conveyancing solicitor commission an energy performance certificate or should I organise this?
After the abolition of HIPs, energy assessments remained a compulsory component of moving house. An energy performance certificate must be to hand prior to the property being advertised. It is not a task that law firms ordinarily arrange. If you are using a Sawbridgeworth conveyancing lawyer they may be able to arrange energy assessments given their contacts with reputable Sawbridgeworth providers
Two weeks ago we had a mortgage agreed in principle with Virgin Money. Sawbridgeworth conveyancing practitioners were chosen. What is the average time that one could expect to receive a mortgage offer from Virgin Money?
There is no definitive answer here. Have Virgin Money completed the valuation? Have you informed Virgin Money as to your lawyers' details and checked that your lawyers are on the Virgin Money conveyancing panel? Sometimes it can take as long as six weeks for a mortgage offer to be issued.
Nottingham have agreed my mortgage in principle, my offer on a property in Sawbridgeworth has been accepted, what happens next?
The property agent will wish to know who your solicitors are (be sure the conveyancing practitioners are on the bank’s panel). Call up Nottingham or the financial adviser and finish off any appropriate documentation. Nottingham will instruct a valuer who will get in contact with the selling agent or seller to arrange an appointment. Once carried out (assuming no problems) it takes approximately a week to receive the mortgage offer. Nottingham will send the offer to you and your solicitors. The transaction will then take it’s course according the nature and complexity of the conveyancing in Sawbridgeworth.
My friend suggested that where I am buying in Sawbridgeworth I should ask my conveyancer to execute a Neighbourhood, Planning and Local Amenity Search. What does it cover?
This is a search is occasionally quoted for as part of the standard Sawbridgeworth conveyancing searches. It is not a small document of about 40 pages, listing and detailing significant information about Sawbridgeworth around the property and the people living there. It incorporates an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the Sawbridgeworth Housing Market, Council Tax Banding, the demographics of People living in the area, the dominant type of Housing, the Average House Prices, Crime statistics, Local Education with maps and statistics, Local Amenities and other useful data concerning Sawbridgeworth.
I purchased a renovated Victorian property in Sawbridgeworth. Conveyancing practitioner represented me and National Westminster Bank. I did a free Land Registry search last week and there are a couple of entries: the first freehold, another for leasehold with the exact same property. If a house is not a freehold shouldn't I have been informed?
You should read the Freehold register you have again and check the Charges Register as there may be mention of a lease. The best way to be sure that you are also the registered owner of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Sawbridgeworth and other locations in the country and poses no real issues for owners other than when they mortgage they have to account for both freehold and leasehold interests when dealing with lenders. You can also check the situation with the conveyancing practitioner who conducted the conveyancing.
I'm purchasing a new build house in Sawbridgeworth with the aid of help to buy. The builders would not budge the price so I negotiated £7000 of fixtures and fittings instead. The estate agent told me not inform my lawyer about this deal as it would affect my loan with the bank. Is this normal?.
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 UK Finance website. UK Finance 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.
I am a sole trader wishing to take over a lease of a shop on the high street. Can you recommend solicitors offering no-move-no charges for non-domestic conveyancing in Sawbridgeworth for below £2000?
We are happy to recommend firms who have an in-depth of experience of commercial conveyancing in Sawbridgeworth, including the sale and acquisition of businesses as well as simply premises. If you are looking to acquire or sell a shop, pub, restaurant, office, retail unit or a whole business we can find you the right lawyer. Regarding the charges these will vary based on the structure and terms of the proposed transaction. Let us have your details or call us so that we may provide you with comprehensive commercial conveyancing quote.