My husband and I are buying a newly built flat in Pudsey and my lawyer is informing me that she is duty bound to the mortgage company to disclose incentives from the builder. I am on a tight deadline to exchange and I don't want to delay 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 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.
What is the best way to check that the solicitor conducting my conveyancing in Pudsey is on the bank’sapproved panel? I am looking to avoid the situation of having one lawyer for me and one for Lloyds TSB Bank thus paying £187.00 plus VAT in further conveyancing costs.
Feel free to make use of the search tool on this web page. Please choose the mortgage company and type ‘Pudsey’ or your preferred area and you will be presented with numerous solicitors based in Pudsey or by proximity to you.
How does conveyancing in Pudsey differ for new build properties?
Most buyers of new build premises in Pudsey contact us having been asked by the housebuilder to exchange contracts and commit to the purchase even before the property is constructed. This is because builders in Pudsey usually buy the real estate, 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 conveyancing solicitors 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 used to new build conveyancing in Pudsey or who has acted in the same development.
I've recently found out that there is a flying freehold element on a house I put an offer in a fortnight ago in what was supposed to be a straight forward, chain free conveyancing. Pudsey is the location of the property. What do you suggest?
Flying freeholds in Pudsey are not the norm but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Pudsey you would need to get your solicitor to go through the deeds diligently. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Pudsey may decide that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold premises.
Me and myfiance and I are searching for a dependable conveyancing lawyer in Pudsey to help me sell my place. I I am fearful of by bill escalating out of control but with lots of Pudsey conveyancing organisations to pick from...who do I opt for?
If you’ve not instructed a property lawyer previously, a personal recommendation via family or friends is a great place to start and is often the best barometer of quality. Alternatively, consult the Law Society’s online record of conveyancing solicitors in Pudsey or make the most of our search facility to choose a conveyancing solicitor in Pudsey.