We are acquiring a newly built flat in Northam and my conveyancer is advising me that she has to the lender to disclose incentives from the seller. I am under pressure to exchange contracts and my preference is not to prolong deal. 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.

In what way does my ID and proof of funds have anything to do with my conveyancing in Northam? Why is this being asked of me?

Anti-terror and anti-money-laundering regulations require solicitors and licensed conveyancers to check the identity of the potential client they are dealing with before they can accept their conveyancing instruction. The Terms and Conditions that you need to sign will no doubt stipulate this. Your lawyer also has obligations to obtain certain documents in accordance with the CML Lenders Handbook requirements last updated on 1st December 2014. If you refuse to supply ID verification documents, your lawyer would not be able to accept instructions from you.

If you had a top tip for choosing a conveyancing solicitor in Northam what would it be?

It would be unwise to be tempted by the lowest Northam conveyancing costs illustration. You really do get what you pay for when it comes to property lawyers. A cheap quote may mean that the conveyancing solicitor is handling a lot of jobs at one time and you won’t get the quality of service and the attention that you need. It is, however, wise to use a conveyancer who has a fixed fee on a no sale, no fee basis. This way, you know exactly what you’ll have to pay in ahead of time.

Can you help - my lawyer says that restrictive coveneant insurance is required on my purchase. What is the level of cover for Northam conveyancing?

The right level of restrictive coveneant indemnity insurance should be dictated by who your lender. It would differ for example between Accord Mortgages Ltd and Norwich and Peterborough Building Society. Conveyancing practitioners as opposed to borrowers take out such policies.

Virgin Money have agreed my home loan in principle, my offer on a flat in Northam has been accepted, what happens next?

The property agent will want to know who your solicitors are (ensure that the conveyancers are on the lender’s approved list). Telephone Virgin Money or the financial adviser and finish off any appropriate paperwork. Virgin Money will appoint a valuer who will get in contact with the selling agent or owners to schedule a slot for the valuation to occur. Once conducted (assuming no problems) it takes on average ten days for the mortgage offer to be issued. Virgin Money will issue the offer to you and your solicitors. The transaction will then take it’s course according the nature and complexity of the conveyancing in Northam.

The estate agent has sent us the confirmation of our purchase of a new build apartment in Northam. Conveyancing is daunting at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build legal work.

Here are examples of a selection of leasehold new build questions that you can expect your new-build leasehold conveyancing in Northam

Please supply a car parking plan. There must be mutual enforceability of lessee’s covenants. The Vendor must covenant to keep unsold units in good repair until long leases are granted therefore. Will the freehold then be transferred for a nominal consideration (not exceeding £100) to the Management Company? The Lease must contain a provision on behalf of the Vendor to pay the service charges in respect of unoccupied units in order to ensure that all services can be provided.

My sealed bid on detached house in Northam was accepted, the seller does however have a tied purchase. The sellers have put an offer on somewhere, although it’s not been accepted yet, and has viewings of other apartments in the pipeline. I have selected a nearby conveyancing solicitor in Northam. What do I do now? At what point should I apply for the mortgage with Skipton?

It is normal to have apprehensions where there is a chain as you are unlikely to want to incur costs too early (home loan application is in the region of one thousand pounds, then valuation, Northam conveyancing search costs, etc). First, you must check that your lawyer is on the Skipton approved list. Concerning the next steps this very much depends on the uniqueness of your case, desire for the property and on the state of the market. In a buoyant market many home buyers would apply for a home loan with Skipton and pay for the survey and only if it comes back ok would they pay their conveyancing practitioner to press on with the conveyancing in Northam.