My wife and I are purchasing a newly constructed apartment in South Normanton and my lawyer is advising me that she is duty bound to the lender to reveal incentives from the developer. I am on a tight deadline to exchange contracts and I have no desire to prolong 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 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.
We see that you have a post code search directory identifying law firms on the Kent Reliance conveyancing panel. Do firms pay you a referral fee if I retain them for our conveyancing in South Normanton?
We are a listing service only for law firms wishing to communicate if they are on the Kent Reliance conveyancing panel or other lender panels. We do not charge referral fees to any conveyancer that you subsequently appoint for your conveyancing in South Normanton.
I require quick conveyancing in South Normanton as I am faced with a deadline to exchange contracts in less than 4 weeks. A mortgage is not required. Is it possible to escape the need for conveyancing searches to save fees and time?
As you are are a cash purchaser you have the choice not to do searches although no solicitor would suggest that you don't. Drawing on years of experience of conveyancing in South Normanton the following are examples of issues that can be revealed and adversely affect market value: Enforcement Notices, Overdue Charges, Outstanding Grants, Railway Schemes,...
3 months have elapsed since my purchase conveyancing in South Normanton completed. I have checked the Land Registry site which shows that I paid £200,000 when infact I paid £180,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the property from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
How does conveyancing in South Normanton differ for newly converted properties?
Most buyers of new build residence in South Normanton contact us having been asked by the builder to exchange contracts and commit to the purchase even before the property is built. This is because developers in South Normanton typically purchase the site, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are accustomed to new build conveyancing in South Normanton or who has acted in the same development.
What can I do to establish who is the owner of a house in South Normanton?
As long as the premises is registered with the Land Registry, and you have the specifics of the location of the property, you should be able to see details from the HM Land Registry of the recorded proprietor for a fee.