I am purchasing a newly constructed duplex in Upper Tean and my solicitor is telling me that she has to the lender to reveal incentives from the developer. The Estate Agents are hassling me to sign contracts and I have no desire to prolong matters. Is my lawyer right?

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

Why is leasehold purchase conveyancing in Upper Tean costs more?

The conveyancing costs for a leasehold premises in Upper Tean is often more expensive when contrasted to a freehold property. This is because there is an amount of supplemental time necessary in dealing with the freeholder and management company to obtain information concerning whether the rent and maintenance charges have been paid and whether there are any major works due in the foreseeable future on repairs or maintenance of the block.

I have an AIP. The bank mentioned the loan came with free conveyancing. Does this mean I have to appoint their panel conveyancer as I would much rather appoint a specialised conveyancing solicitor in Upper Tean?

You should check but the the probability is that appoint one of their panel conveyancers should you take up the "fee-free" incentive. Contact the bank to check if they make available a monetary alternative. Some lenders have previously offered a £250 cashback as an alternative in which case that money can go towards your preferred conveyancing solicitor in Upper Tean.

Are there restrictive covenants that are commonly identified during conveyancing in Upper Tean?

Covenants that are restrictive in nature can be picked up when reviewing land registry title as part of the legal transfer of property in Upper Tean. 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…’

I'm purchasing a new build house in Upper Tean with a mortgage from Yorkshire Building Society. The developers would not move on the amount so I negotiated £7000 of fixtures and fittings instead. The estate agent told me not inform my solicitor about the deal as it would put at risk my mortgage with Yorkshire Building Society. Should I keep quiet?.

All lenders require a Disclosure of Incentives Form from the builder of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.

Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.

Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.