My partner and I are buying a newly constructed flat in Wigston and my solicitor is informing me that she is duty bound to the mortgage company to reveal incentives from the builder. I am nearing the developer’s deadline to sign contracts and I have no desire to prolong the conveyancing. 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 bank panel is to comply with the UK Finance Lenders’ Handbook provisions. The CML Conveyancing Handbook requires that your lawyer have the appropriate Disclosure of Incentive form completed by the developer and accepted by your lender.
We note that you have a post code search directory identifying law firms on the Skipton conveyancing panel. Do companies pay you a commission if I instruct them for our conveyancing in Wigston?
We are a listing service only for law firms wishing to communicate if they are on the Skipton conveyancing panel or other lender panels. We do not charge referral fees to any conveyancer that you subsequently appoint for your conveyancing in Wigston.
Me and my partner are purchasing a house in Wigston. I might seem paranoid but how we can trust a conveyancer? At some point we will need to send money into their account. What protection do we have from them run away with our monies?
Be assured that all money in a Solicitors client account is 100% safe, and even if your Solicitor ran off with it, the Law Society would reimburse you fully.
I am planning to move house in September. Should my conveyancing solicitor update the removal company on the day of completion. As an aside, can you recommend a removal company in Wigston. Conveyancing lawyer was found prior to coming across your site.
On the day of completion you can collect the keys from the estate agent however this can only be done once the vendors conveyancers confirm to the agent that the monies to complete are in and the keys can be released. Subsequently you can inform the removal men that you are ready to move in. As a matter of policy we do not suggest a specific removal organisation but can help you find a residential property solicitor in Wigston or a legal practice that specialises in conveyancing in Wigston.
When it comes to mortgage companies such as Nationwide, do Wigston lawyers incur a yearly amount to be on the list of approved solicitors?
We are unaware of any lender fees to be on their list of approved firms, although some do levy an administration charge to deal with the processing of the conveyancing panel submission.
Just bought a semi-detached house in Wigston , What is the estimated time for the Land Registry to record the transfer to my name? My Wigston conveyancing solicitor has been painfully slow, so I want to check the registration formalities are addressed.
As far as conveyancing in Wigston is concerned, registration is no quicker or slower than the rest of the country. Rather than based on location, timescales can differ subject to the party submitting the application, whether there are errors and if the Land registry communicate with any other persons or bodies. At present approximately 80% of such applications are completed in less than three weeks but some can be subject to extensive hold-ups. Historically registration is effected once the new owner is living at the property thus registration formalities is not typically primary concern yet where there is a degree of urgency associated with the registration then you or your lawyers could communicate with the Registry to express the reasoning for an expedited registration.
I am purchasing my first flat in Wigston with a loan from Virgin Money. The developers refused to move on the amount so I negotiated £7000 of fixtures and fittings instead. The estate agent told me not reveal to my conveyancer about the deal as it would impact my loan with the 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.
What do I do if I am dissatisfied with the property lawyer who did my conveyancing in Wigston?
We live in an imperfect world, and unfortunately occasionally matters do not go as planned. Nevertheless there is recourse where you were dissatisfied with your conveyancing in Wigston. This varies from trying to resolve matters directly with them, through to reporting a conveyancing practitioner to their regulator. If things still aren’t resolved you may consider getting in touch with the Legal Ombudsman.