I am purchasing a new build flat in Putney and my lawyer is telling me that she has to the bank to disclose incentives from the seller. I am nearing the developer’s deadline to sign contracts and I have no desire to delay deal. Is my lawyer right?
You should not exchange unless you have been advised to do so by your conveyancing practitioner. A precondition to being on a bank panel is to comply with the UK Finance Lenders’ Handbook conditions. The CML Conveyancing Handbook requires that your lawyer have the appropriate Disclosure of Incentive form completed by the developer and accepted by your lender.
When can the exchange of contracts occur in purchase conveyancing in Putney and do I need to attend the solicitors office?
Where you are in close proximity to our conveyancing solicitors in Putney you are invited in to sign the paperwork. That being said, the law practices we work with supply countrywide coverage for conveyancing and give just as detailed and professional a job for you when communicating with you electronically. The signing of the contract is not when everything is set in stone. Signing on the dotted line is necessary for the solicitor to exchange contracts at the appropriate time, which will usually be very shortly after signing. The procedure is is usually a five minute process, although where a long "chain" is in play, since the process requires the relevant party's solicitor (not necessarily a conveyancing solicitor in Putney)to be in the office at the appropriate time.
I had a mortgage agreed in principle with Leeds Building Society. Putney conveyancing lawyers are selected. How long does it take for Leeds Building Society to forward the offer to the conveyancer?
Some lenders take longer than others. Have Leeds Building Society conducted the valuation? Have you advised Leeds Building Society as to your lawyers' details and checked that your lawyers are on the Leeds Building Society conveyancing panel? Sometimes it can take as long as six weeks for a mortgage offer to be issued.
I am buying a property in Putney. An unusual aspect is that the roof has a solar panel. UBS have issued a mortgage offer so presumably this is not a concern to them. Why is my solicitor raising questions about the panel?
Given that you are obtaining a mortgage with UBS your lawyer must follow the formal requirements contained in Section 2 of UK Finance Lenders’ Handbook for UBS. The Council of Mortgage Lenders’ Handbook sets out minimum provisions for solar panel roof-space leases, and lawyers are required to report to UBS where a lease does not meet these specifications. The requirements relate to the installation of panels on properties nationwide and is not isolated to Putney.
I recently had an offer accepted on a house in Putney. My mortgage broker pressured me to appoint their conveyancer. I paid an upfront payment of £225. Not long after, the property lawyer contacted me to say that they were not on the Virgin Money conveyancing panel. Am I right in thinking that I should be due a refund?
You should be able to recover this from the law firm if they were not on the Virgin Money panel. They should have asked at the outset which lender you were obtaining a mortgage with. An important lesson to readers of this site is to check that the lawyers are on the appropriate lender panel.
I require expedited conveyancing in Putney as I have pressure to sign on the dotted line in less than 3 weeks. Luckily I do not need a mortgage. Is it possible to escape the need for conveyancing searches to save fees and time?
If.Given you are are a cash purchaser you have the choice not to have searches conducted although no lawyer would recommend that you don't. Drawing on our experience of conveyancing in Putney the following are examples of what can show up and therefore impact market value: Refused Planning Applications, Outstanding Fees, Outstanding Grants, Railway Schemes,...
Is it true that a Putney conveyancing company has court proceedings brought against them by clients for not carrying out comprehensive conveyancing investigations?
We are not aware of such a Putney conveyancing claim but it has been reported that, clients purchasing a home in Cumbria successfully won a case against their conveyancer as a consequence of development plans to erect a wind farm failing to be identified in conveyancing searches.
Where you are buying in Putney It is essential that your property lawyer purchase all Putney conveyancing searches required making sure that you have relevant and current information before acquiring a home in Putney.