My wife and I are purchasing a newly constructed flat in Poplar and my conveyancer is advising me that she is duty bound to the lender to reveal incentives from the seller. I am on a tight deadline to exchange contracts and I would rather not prolong the conveyancing. Is my lawyer right?
You should not exchange unless you have been advised to do so by your property lawyer. A precondition to being on a mortgage company 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.
As a FTB what is the most important piece of guidance you can impart regarding purchase conveyancing in Poplar?
Not many law firms or advisers will tell you this but conveyancing in Poplar or throughout London is often a confrontational process. In other words, when it comes to conveyancing there exists an abundance of opportunity for friction between you and others involved in the transaction. For example, the vendor, property agent and sometimes your bank. Choosing a lawyer for your conveyancing in Poplar is a critical decision as your conveyancer is your adviser, and is the ONLY party in the process whose role it is to look after your legal interests and to keep you safe.
There is a distinct ongoing adversarial element to conveyancing- someone must be at fault for the process taking so long. You should always trust your lawyer above all other players when it comes to the legal transfer of property.
I need some fast conveyancing in Poplar as I am under pressure to exchange contracts within 4 weeks. A mortgage is not required. Is it possible to avoid the conveyancing searches to save money and time?
If.Given you are are a mortgage free buyer you have the choice not to have searches carried out although no law firm would recommend that you don't. Drawing on years of experience of conveyancing in Poplar the following are examples of what can be revealed and therefore affect the marketability of the property: Refused Planning Applications, Outstanding Fees, Outstanding Grants, Railway Schemes,...
Are there restrictive covenants that are commonly picked up as part of conveyancing in Poplar?
Restrictive covenants can be picked up when reviewing land registry title as part of the process of conveyancing in Poplar. 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…’
Having used your search tool I can't find the lawyer I was hoping to instruct as being on the lender conveyancing panel. My lawyer has said that they are on the mortgage company 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 mortgage company 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 lender solicitor panel.