We are acquiring a newly constructed apartment in Richmond and my solicitor is advising me that she has to the bank to reveal incentives from the developer. I am on a tight deadline to exchange contracts and I have no desire to delay deal. is my lawyer playing by the book?

You should not exchange unless you have been advised to do so by your solicitor. A precondition to being on a lender 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.

Have just purchased a repossessed house at auction in Richmond. Conveyancing is needed. What are my next steps?

Given that you have now for all intents and purposes signed on the dotted line you now have to retain a conveyancing solicitor quickly as you now have a pending a drop dead date to complete the conveyancing. All auction property will have an associated legal pack. This should include the copy title deeds, local authority and drainage searches. If you have purchased leasehold property the conveyancing pack should provide a copy of the lease, management information and a sellers leasehold information form and associated conveyancing documentation specific to a leasehold property. You need to hand this to your appointed conveyancing solicitor ASAP. You also need to ensure that that you have the requisite funding in order to complete on the date specified in the contract.

When it comes to mortgage companies such as Nottingham, do Richmond lawyers have to pay a fee to be on the list of approved solicitors?

We are not aware of any bank fees to register on their panel, although some do charge an administration charge to deal with the processing of the conveyancing panel application.

We are getting a further advance on our home loan from Yorkshire BS as we intend to conduct improvements to our property in Richmond. Are we obliged to appoint a local Richmond solicitor on the Yorkshire BS conveyancing panel to deal with the legals?

Yorkshire BS don't usually appoint firms on their conveyancing panel to handle the formalities. If they do require any legal work then you would need to ensure that such a lawyer was on the Yorkshire BS conveyancing panel.

How does conveyancing in Richmond differ for new build properties?

Most buyers of new build premises in Richmond contact us having been asked by the developer to sign contracts and commit to the purchase even before the house is completed. This is because builders in Richmond usually purchase 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 conveyancers 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 accustomed to new build conveyancing in Richmond or who has acted in the same development.

My husband and I are first time buyers - had an offer accepted, but the estate agent has warned us that the seller will only go ahead if we appoint their recommended lawyers as they need an ‘expedited deal’. We would rather use a high street solicitor used to conveyancing in Richmond

It is improbable the vendors are driving this. If they desire ‘a quick sale', taking such a hostile approach to a motivated buyer is going to damage their objectives. Bypass the agents and go straight to the sellers and explain that (a)you are motivated purchasers (b)you are excited to move forward, with finances in place © you are unencumbered (d) you intend to proceed fast (e)but you intend to appoint your preferred Richmond conveyancing lawyers - not the ones that will provide the negotiator at the agency a introducer fee or hit his conveyancing targets demanded by head office.

Is there a reason that Richmond conveyancing fees differ for leasehold and freehold properties?

There is always more work required in leasehold conveyancing. Richmond has many leasehold properties. There is more time involved in the purchase: for example, the lease and leasehold information (including up to date service charge, ground rent and buildings insurance details) obtained from the freeholder or managing agents. There are strict criteria that the lease must meet in order to be acceptable to a mortgage company. If it does not meet these requirements, the lease must be amended, which can involve additional expense for the seller.