I am acquiring a newly constructed apartment in Benson and my solicitor is informing me that she is duty bound to the mortgage company to disclose incentives from the developer. The Estate Agents are hassling me to sign contracts and I don't want to prolong matters. is my lawyer playing by the book?

You should not exchange unless you have been advised to do so by your conveyancer. A precondition to being on a mortgage company panel is to comply with the UK Finance Lenders’ Handbook specifications. The CML Conveyancing Handbook requires that your lawyer have the appropriate Disclosure of Incentive form completed by the developer and accepted by your lender.

How does conveyancing in Benson differ for new build properties?

Most buyers of new build residence in Benson contact us having been asked by the builder to exchange contracts and commit to the purchase even before the premises is finished. This is because house builders in Benson usually buy the land, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are accustomed to new build conveyancing in Benson or who has acted in the same development.

Given that I will soon part with hundreds of thousands of pounds on 3 bedroom house in Benson I would like to talk to a lawyer concerning thehouse move ahead of giving the go ahead to the firm. Is this something that you can arrange?

This is something that we recommend - we would be pleased to talk to you we do not take any clients on without you liaising with the lawyer who will be conducting your conveyancing in Benson.There is no ‘factory style conveyancing’ - each client is an important person, not a file number. The law firms that we put you in touch with believe that the figure you are calculated and presented to you for your conveyancing in Benson should be the figure that you are charged.

Last September I purchased a leasehold property in Benson. Do I have any liability for service charges for periods before my ownership?

In a situation where the service charge has already been demanded from the previous owner and they have not paid you would not usually be personally liable for the arrears. Strange as it may seem, your landlord may still be able to take action to forfeit the lease. It is an essential part of leasehold conveyancing for your conveyancer to be sure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.

If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).

Benson Leasehold Conveyancing - Sample of Questions you should ask before Purchasing

Is anyone aware of any major works on the horizon that will add a premium to the service charges? Who manages the building? Where a Benson lease has fewer than eighty years it will impact the marketability of the apartment. It is worth checking with your lender that they are willing to to proceed given the lease term. A short lease means that you will almost definitely have to extend the lease sooner rather than later and you need to have some idea of what this will be. For most Bensonlease extensions you would need to own the residence for 24 months in order to be eligible to carry out a lease extension.

Is it necessary during the course of the conveyancing process to attend the offices of the lender conveyancing panel solicitor to sign the mortgage deed? If so, I will instruct a firm who offer conveyancing in Benson as it will be easier to pop in to their offices if required.

As opposed to 15 years ago, most lenders no longer require their conveyancing panel solicitor to witness the borrowers signature. You will still be obliged to provide ID Documents and there are still distinct advantages to using a local solicitor, in your case a conveyancing solicitor in Benson.