My partner and I are buying a new build flat in Stourport On Severn and my conveyancer is informing me that she has to the bank to reveal incentives from the builder. The Estate Agents are hassling me to exchange and I don't want to delay the conveyancing. is my lawyer playing by the book?
You should not exchange unless you have been advised to do so by your conveyancer. A precondition to being on a lender panel is to comply with the UK Finance Lenders’ Handbook requirements. The CML Conveyancing Handbook requires that your lawyer have the appropriate Disclosure of Incentive form completed by the developer and accepted by your lender.
Will our conveyancer be asking questions about flooding during the conveyancing in Stourport On Severn.
Flooding is a growing risk for conveyancers carrying out conveyancing in Stourport On Severn. There are those who buy a property in Stourport On Severn, completely expectant that at some time, it may be flooded. However, aside from the physical damage, where a house is at risk of flooding, it may be difficult to get a mortgage, adequate building insurance, or dispose of the premises. Steps can be carried out during the course of a property purchase to forewarn the buyer.
Conveyancers are not qualified to offer advice on flood risk, however there are a various checks that can be initiated by the buyer or on a buyer’s behalf which can give them a better appreciation of the risks in Stourport On Severn. The conventional set of completed inquiry forms supplied to a buyer’s solicitor (where the solicitors are adopting what is known as the Conveyancing Protocol) contains a standard inquiry of the owner to discover if the premises has historically flooded. If flooding has previously occurred and is not disclosed by the owner, then a purchaser may bring a claim for damages as a result of such an misleading reply. A purchaser’s lawyers may also carry out an enviro report. This should higlight whether there is any known flood risk. If so, more detailed investigations will need to be conducted.
I decided to have a survey done on a house in Stourport On Severn prior to retaining conveyancers. I have been informed that there is a flying freehold aspect to the property. My surveyor advised that some mortgage companies tend not grant a loan on such a house.
It depends who your proposed lender is. Santander has different requirements for example to Birmingham Midshires. If you e-mail us we can look into this further with the relevant mortgage company. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Stourport On Severn. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Stourport On Severn to see if the conveyancing costs will increase in light of this.
I'm remortgaging my existing property to a buy to let loan with Leeds Building Society and intend to use the remaining equity as a deposit on further property. The location we are interested in is Stourport On Severn. Will your solicitors be able to act for both sets of lenders and link together the conveyances?
Do use our search tool on this site to check that the solicitors are approved by both banks. On the basis that they are your lawyer will be able to connect the two transactions but you should have a chat with you solicitor and communicate your desired outcome and needs.
My conveyancing in Stourport On Severn is set to complete next Friday, however the sellers I am buying off has asked to move out the next day at PM. Should I accept such a plan?
It is not possible to complete on a Saturday because the bank systems are not working.