I am acquiring a newly constructed duplex in West Hill and my solicitor is advising me that she is duty bound to the mortgage company to disclose incentives from the seller. I am under pressure to exchange contracts and I don't want to prolong deal. is my lawyer playing by the book?
You should not exchange unless you have been advised to do so by your lawyer. A precondition to being on a mortgage company 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.
Will our lawyer be asking questions about flooding during the conveyancing in West Hill.
Flooding is a growing risk for solicitors dealing with homes in West Hill. Some people will purchase a house in West Hill, fully aware that at some time, it may be flooded. However, leaving to one side the physical damage, where a house is at risk of flooding, it may be difficult to get a mortgage, adequate building insurance, or dispose of the premises. Steps can be carried out during the course of a house purchase to forewarn the purchaser.
Conveyancers are not qualified to offer advice on flood risk, but there are a numerous checks that may be initiated by the purchaser or on a buyer’s behalf which can figure out the risks in West Hill. The conventional set of completed inquiry forms supplied to a purchaser’s solicitor (where the solicitors are adopting what is known as the Conveyancing Protocol) includes a usual question of the seller to find out if the property has ever been flooded. In the event that flooding has previously occurred which is not revealed by the seller, then a purchaser could issue a legal claim for losses resulting from an inaccurate reply. A purchaser’s conveyancers should also conduct an environmental report. This should indicate whether there is any known flood risk. If so, further investigations should be made.
3 months have elapsed since my purchase conveyancing in West Hill took place. I have checked the Land Registry website which shows that I paid £175,000 when infact I paid £215,000. 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 asset 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.
I have been pointed in your direction by a couple of local estate agents in West Hill to find a solicitor on your site. Is there a financial incentive for Estate Agents to market your services ahead of another?
We don’t make any financial incentive for pointing buyers and sellers to this site. We found it would be just too difficult to pay a commission as home movers will think, ‘How come the agent getting a kickback? Why am I not receiving any benefit too?’ So we decided to step away from that.
Is it best to instruct a West Hill conveyancing practitioner who is local to the property I am hoping to buy? An old friend can handle the conveyancing however her office is a couple of hundredkilometers drive away.
The primary upside of using a high street West Hill conveyancing firm is that you can visit the firm to sign documents, present your identification documents and pester them where appropriate. They will also have local knowledge which is a plus. That being said it's more important to get someone that will pull out all the stops for you. If if people you trust used your friend and on the whole were content that must trump using an unknown West Hill conveyancing solicitor solely due to them being round the corner.
I am searching for West Hill online conveyancing estimates. Can I be sure that all the West Hill law firms that are identified on your directory are on the bank conveyancing panel?
The solicitor and licensed conveyancing practices listed on our site have advised us that they are on the mortgage company panel and agreed to advise us to take down their listing in the event of removal off of the bank panel. To date we have not been informed by either a lender or a member of the public that the data about a specific West Hill conveyancing solicitor being on the bank conveyancing panel is incorrect.