My wife and I are buying a newly built duplex in Sutton and my conveyancer is informing me that she has to the lender to reveal incentives from the seller. I am under pressure to sign contracts and my preference is not to delay matters. 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 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.
Finally the sale completed on my house in Sutton last October but our buyer keeps e-mailing every few hours to say his conveyancer needs to hear from mysolicitor. What should have happened now that I have sold?
Post completion of your house sale your lawyer is committed to send the transfer documentation and all supplemental paperwork to the purchaser's conveyancer. Where relevant, your solicitor must also evidence that the legal charge in favour of the lender has been repaid to the buyers conveyancers. There is unlikely to be post completion formalities specific conveyancing in Sutton.
I am being told by my conveyancer that breach of easement insurance is necessary on my purchase. What is the typical level of cover needed for conveyancing in Sutton?
The right level of breach of easement indemnity insurance should be dictated by who who your lender is. It would differ for example between Accord Mortgages Ltd and The Mortgage Works. Conveyancing practitioners as opposed to members of the public take out such insurances.
Two weeks ago we had a mortgage agreed in principle with Yorkshire BS. Sutton conveyancing solicitors were chosen. How long does it take for Yorkshire BS to forward the offer to the conveyancing practitioner?
Some lenders take longer than others. Have Yorkshire BS completed the valuation? Have you advised Yorkshire BS as to your lawyers' details and checked that your lawyers are on the Yorkshire BS conveyancing panel? Sometimes it can take as long as six weeks for a mortgage offer to be issued.
I am expecting a DIP from Leeds Building Society this week so we can work out what to offer on a property we like as otherwise we only have online calculators to go by (which aren't taking into account credit checks etc). Do Leeds Building Society recommend any Sutton solicitors on the Leeds Building Society conveyancing panel, or is it better to find our own lawyer?
You will need to appoint Sutton solicitors independently although you'll need to choose one on the Leeds Building Society conveyancing panel. The solicitor represents both you and Leeds Building Society through the process.
Yesterday I discovered that there is a flying freehold element on a house I have offered on two weeks back in what should have been a simple, no chain conveyancing. Sutton is the location of the property. What do you suggest?
Flying freeholds in Sutton are rare but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Sutton you would need to get your solicitor to go through the deeds very carefully. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Sutton 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 premises.
In what way can the Landlord & Tenant Act 1954 affect my commercial property in Sutton and how can your lawyers assist?
The 1954 Act affords security of tenure to commercial leaseholders, granting the dueness to apply to court for a new tenancy and continue in occupation at the end of an expired lease. There are limited grounds that a landlord can refrain from granting a lease renewal and the rules are complex. We are happy to direct you to commercial conveyancing practices who use the act for protection and help with commercial conveyancing in Sutton
We are hoping to purchase a repression property in Sutton and the vendor demand completion within a month. Can a solicitor meet that timeframe? Am I best advised to instruct a local Sutton firm or an online conveyancer that professes to complete quickly?
Attend your Sutton high street. Go in to two or three firms and ask to talk to a conveyancing solicitor for a quote. Set out your situation and try and obtain a commitment on speed. Select the firm that comes across as most efficient. Make sure to use a conveyancer on the list of lawyers who can act for your lender.