My husband and I are acquiring a new build flat in Small Heath and my lawyer is advising me that she is duty bound to the bank to disclose incentives from the builder. I am under pressure to exchange 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 solicitor. A precondition to being on a lender panel is to comply with the UK Finance Lenders’ Handbook conditions. 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 purchased a freehold residence in Small Heath but nevertheless pay rent, why is this and what is this?
It is rare for properties in Small Heath and has limited impact for conveyancing in Small Heath 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 many centuries, but the Rent Charge Act 1977 barred the establishment of new rentcharges from 1977 onwards.
Old rentcharges can now be redeemed by making a one off payment under the Act. Any rentcharges that are still in existence post 2037 is to be extinguished.
Forgive me if this question is silly but I am unexperienced as FTB of a two bedroom flat in Small Heath. Do I receive the keys to the property on the completion date from my solicitor? If this is the case, I will appoint a High Street conveyancing solicitor in Small Heath?
On the day of completion you will not be required to attend the conveyancers office in Small Heath. Your solicitors will electronically transfer the completion advance to the owner’s conveyancers, and shortly after the monies have arrived, you should be called to pick up the keys from the property Agents and start moving into the property. This tends to happen early afternoon.
I was told three weeks ago that my mortgage has been agreed to by Yorkshire BS. Is it usual for Yorkshire BS to only issue the offer once my solicitor in Small Heath is approved on their conveyancing panel? Yorkshire BS have asked my solicitor to see a copy of their PI Insurance.
A lender would not issue a mortgage until they have details of a lawyer on their panel. It can take a few weeks for Yorkshire BS to deal with your lawyer's application to be on the Yorkshire BS conveyancing panel. There's no guarantee that your solicitor will be accepted.
I've digested plenty of mortgage guides, I note that they all recommend that you should get your house surveyed prior to buying it. When I asked my local Small Heath solicitor - who is on the Leeds Building Society conveyancing panel - on this she said they don't do this and I need to contract an independent surveyor. is that correct?
Leeds Building Society will need an independent valuation of the property. Your lawyer will not arrange this. Usually Leeds Building Society 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 lawyer 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 Small Heath postcode. As you are getting a mortgage with Leeds Building Society, you could contact them to see if they have a list of approved surveyors in Small Heath.
Yesterday I discovered that there is a flying freehold element on a house I have offered on a fortnight ago in what was supposed to be a quick, no chain conveyancing. Small Heath is the location of the property. Is there any advice you can impart?
Flying freeholds in Small Heath are rare but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Small Heath you would need to get your solicitor to go through the deeds diligently. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Small Heath may decide that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold property.
My father has recommend that I use his lawyers for conveyancing in Small Heath. Should I use them?
There are no two ways about it it’s preferable to choose a conveyancing solicitor is to get guidance from friends or relatives who have actually experience in using the solicitor that you are considering.
We have been advised by various family members that it can take six to eight weeks for Small Heath conveyancing to complete.This was a month ago. The draft contract was only sent from the vendors conveyancing practitioner a few days ago so does the clock start running now?
Six to eight weeks is an extremely rough timescale. Answering accurately how long Small Heath conveyancing will take is an impossible task. Every conveyance will have it’s bespoke set of concerns. Accordingly your solicitor should be unwilling to guarantee an exact timescale to complete conveyancing in Small Heath.