I am acquiring a new build apartment in Heacham and my solicitor is advising me that she is duty bound to the lender to reveal incentives from the developer. I am nearing the developer’s deadline to exchange 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 property lawyer. A precondition to being on a lender 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.
Me and my partner are purchasing a apartment in Heacham. It might be a silly question but how we can trust a conveyancer? On the day of competition we will need to send our life savings into their account. What is the protection 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.
Is it correct that all Heacham CQS (Conveyancing Quality Scheme) solicitors are on the TSB conveyancing list of approved firms?
Some major lenders now make use of CQS as the kick off point for Panel approval such as HSBC and Santander. CQS membership however gives no guarantee to lender panel acceptance. That being said,the Council of Mortgage Lenders have indicated that it is likely to become a pre-requisite for solicitor practices wishing to remain on their approved list of firms.
My husband and I have arranged the release of further funds on our home loan from Clydesdale as we wish to carry out a loft conversion to our property in Heacham. Do we need to appoint a bricks and mortar Heacham solicitor on the Clydesdale conveyancing panel to handle the legals?
Clydesdale do not ordinarily appoint a member of their approved list of lawyers to handle the formalities. If they do require any legal work then you would need to ensure that such a lawyer was on the Clydesdale conveyancing panel.
Are there restrictive covenants that are commonly picked up during conveyancing in Heacham?
Covenants that are restrictive in nature can be picked up when reviewing land registry title as part of the legal transfer of property in Heacham. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
I opted to have a survey carried out on a property in Heacham before appointing solicitors. I have been advised that there is a flying freehold aspect to the house. My surveyor advised that some banks tend not give a mortgage on a flying freehold premises.
It varies from the lender to lender. Bank of Scotland has different requirements for example to Halifax. If you e-mail us we can check via the relevant bank. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Heacham. Conveyancing may be slightly more expensive based on your lender's requirements.
Is it simple use your search facility to choose a conveyancing solicitor in Heacham on the panel for my mortgage?
First select a bank such as Birmingham Midshires, Chelsea Building Society or Platform Home Loans Ltd then type in your location e.g. Heacham. Conveyancing organisations in Heacham and further afield should be identified.