I am buying a newly constructed duplex in Whitechapel and my solicitor is advising me that she has to the bank to disclose incentives from the builder. The Estate Agents are hassling me to sign contracts and I have no desire to prolong 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 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.
Finally the sale completed on my house in Whitechapel last October yet the purchaser is whats apping me to say his solicitor is waiting to hear from mylawyer. What are the post completion sale formalities now that I have sold?
After completion of your sale your conveyancer is obliged to send the transfer deeds and all additional paperwork to the purchaser's solicitors. Where relevant, your lawyer should also evidence that the home loan has been paid off to the buyers conveyancers. There are no post completion formalities specific conveyancing in Whitechapel.
Having spent time reviewing online forums for a conveyancing lawyer in Whitechapel, many say that I should look for a CQS assured lawyer. Can you explain what CQS is?
The Law Society's Conveyancing Quality Scheme is the recognised kitemark for legal experts in home moving process, trusted by some of the UK's leading lenders. In 2011-12 the Conveyancing Quality Scheme was officially recognised by the Legal Ombudsman. CQS is not a scheme offered by the Society for Licensed Conveyancers. Whitechapel is one of the many areas of the UK where there are Accredited lawyers.
I am purchasing my first flat in Whitechapel with the aid of help to buy. The builders refused to move on the price so I negotiated 6k of additionals instead. The house builders rep told me not disclose to my solicitor about the extras as it may affect my mortgage with National Westminster Bank. Do I keep my lawyer in the dark?.
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.
My partner has recommend that I appoint his lawyers for conveyancing in Whitechapel. Should I use them?
No doubt the best way to find a conveyancing lawyer is to seek recommendations from friends or family who have actually experience in using the firm that you are contemplating using.
I have checked your search tool I can't find the lawyer I was hoping to instruct as being on the mortgage company conveyancing panel. My lawyer has said that they are on the lender approved panel. How can I be sure given that they are not listed on your directory?
Not all firms are yet listed on our lender panel search tool which is still relatively new. Law firms are listing on a daily basis and it is probably the case that your lawyer is on the bank conveyancing lawyer and you should probably take them at their word. Please do feel free to suggest that they completing their listing on our site as it would only cost them £1 a month to list themselves as being on the bank solicitor panel.