We are purchasing a brand new apartment in Wells and my solicitor is advising me that she has to the mortgage company to disclose incentives from the developer. The Estate Agents are hassling me to exchange and I would rather not prolong deal. is my lawyer playing by the book?
You should not exchange unless you have been advised to do so by your conveyancing practitioner. A precondition to being on a mortgage company 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.
My Solicitor in Wells is not on the Coventry Building Society Conveyancing Panel. Is it possible for me to continue with my family solicitor notwithstanding that they are not on the Coventry Building Society approved list?
Your options are as follows:
- Carry on with your existing Wells lawyers but Coventry Building Society will need to instruct a conveyancer on their panel. This will inevitably rack up the total legal charges as well as cause delays.
- Choose an alternative lawyer to act in the purchase, obviously checking they are Coventry Building Society approved.
- Try to convince your Coventry Building Society based solicitor to seek to join the Coventry Building Society panel
I have recentlybeen informed that Stirling Law have been shut down. They conducted my conveyancing in Wells for a purchase of a freehold house 10 months ago. How can I be sure that my home is not still registered in the name of the former proprietor?
The quickest way to see if the property is registered to you, you can make a search of the land registry (£3.00). You can either do this yourself or ask a law firm to do this for you. If you are not registered you can seek help from one of a number of Wells conveyancing specialists.
I am buying a new build house in Wells benefiting from help to buy. The sellers refused to budge the price so I negotiated £7000 of fixtures and fittings instead. The sale representative advised me not to tell my conveyancer about the extras as it could put at risk my mortgage with Coventry Building Society. Should I keep quiet?.
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 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.
I am a sole trader wishing to take an assignment of a lease of an office on the high street. Can you recommend solicitors offering no-move-no fees for commercial conveyancing in Wells for less than £2000?
We can recommend firms who have an in-depth of experience of commercial conveyancing in Wells, including the disposal and acquisition of businesses as well as simply premises. Whether you are intending to acquire or sell a shop, pub, restaurant, office, retail unit or a whole business we will put you in touch with the right lawyer. As for the charges this will depend on the structure and nuances of the proposed transaction. Please provide us with your details or email so as to enable us to provide you with a detailed commercial conveyancing quote.
Is it best to go with a Wells conveyancing solicitor based in the location that I am hoping to buy? We have a good friend who can carry out the conveyancing but they are based 200miles drive away.
The primary upside of using a high street Wells conveyancing practice is that you can pop in to sign paperwork, deliver your ID and pester them where appropriate. Having local Wells 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 used your friend and they were impressed that must outweigh using an unfamiliar Wells conveyancing lawyer just because they are round the corner.