My wife and I are acquiring a new build apartment in Thurmaston and my lawyer is advising me that she is duty bound to the lender to disclose incentives from the builder. I am under pressure to sign contracts and my preference is not to prolong deal. is my lawyer playing by the book?
You should not exchange unless you have been advised to do so by your solicitor. A precondition to being on a bank panel is to comply with the UK Finance Lenders’ Handbook requirements. 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 Thurmaston last August but my buyer keeps calling me to moan that her solicitor needs to hear from mine. What are the post completion sale formalities following completion?
After completion of your sale your solicitor is committed to deliver the transfer documentation and all supplemental paperwork to the buyer’s conveyancer. Where relevant, your lawyer should also send confirmation that the legal charge in favour of the lender has been redeemed to the buyers conveyancers. There are no post completion requirements just for conveyancing in Thurmaston.
My wife and I own a renovated Georgian house in Thurmaston. Conveyancing lawyer acted for me and Lloyds TSB Bank. I did a free Land Registry search last week and there are a couple of entries: the first freehold, the second leasehold with the matching address. I thought I was buying a freehold how can I check?
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 Thurmaston and other areas of the country and poses no real issues for owners other than when they remortgage they have to account for both freehold and leasehold interests when dealing with buyers. You can also enquire as to the position with your conveyancing solicitor who completed the work.
I am buying a new build house in Thurmaston with a mortgage from Lloyds TSB Bank. The sellers refused to move on the amount so I negotiated 6k of fixtures and fittings instead. The house builders rep told me not to tell my lawyer about this deal as it could affect my loan with Lloyds TSB Bank. Should I keep quiet?.
All lenders require a Disclosure of Incentives Form from the builder 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.
Should I use a Thurmaston conveyancing practitioner based in the area that I am purchasing? We have a good friend who can execute the conveyancing however they are based approximately 350miles away.
The benefit of a local Thurmaston conveyancing firm is that you can pop in to sign documents, deliver your identification documents and apply pressure on them where appropriate. Having local Thurmaston know how is a bonus. That being said nothing is more important than finding someone that will do a good and efficient job. If other friends have instructed your friend and they were content that should surpass using an unknown Thurmaston conveyancing lawyer just because they are round the corner.
I note that you have a search directory listing solicitors on the lender conveyancing panel. Do Thurmaston conveyancing companies pay you a commission if I appoint them for my own conveyancing?
We are a listing service only for law firms wishing to communicate if they are on the mortgage company conveyancing panel or other lender panels. We do not charge referral fees to the any conveyancer that you subsequently appoint for your conveyancing in Thurmaston.