My husband and I are buying a newly constructed apartment in Wolverhampton and my solicitor is advising me that she is duty bound to the bank to disclose incentives from the seller. I am under pressure to exchange contracts and my preference is not to prolong 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 provisions. 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 happens if my solicitor is removed from the Santander Solicitor panel ahead of completing my conveyancing in Wolverhampton?
The first thing to point out is that, this is very unlikely to happen. In most cases even where a law firm is removed off of a panel the lender would allow the completion to go ahead as the lender would appreciate the difficulties that they would place you in if you have to instruct a new solicitor days before completion. In a worst case scenario where the lender insists that you instruct a new firm then it is possible for a very good lawyer to expedite the conveyancing albeit that you may pay a significant premium for this. The analogous situation is where a buyer instructs a lawyer, exchanges contracts and the law firm is shut down by a regulator such as the SRA. Again, in this situation you can find lawyers who can troubleshoot their way to bring the conveyancing to a satisfactory conclusion - albeit at a cost.
I am assisting my mother sell her house in Wolverhampton. Does the conveyancer commission the energy performance certificate or it is for me to see to?
After the demise of Home Packs, energy performance certificates became a compulsory element of selling a house. An EPC must be to hand prior to the property being advertised. This is not a task that law firms ordinarily arrange. If you are using a Wolverhampton conveyancing lawyer they may help arrange energy performance certificates due to their relationships with long established Wolverhampton assessors
I have been advised by my lawyer that lack of right of way insurance is required on my purchase. What is the typical level of cover needed for conveyancing in Wolverhampton?
The right level of lack of right of way indemnity insurance depends on your lender. It would differ for example between Halifax and The Royal Bank of Scotland. Conveyancing practitioners as opposed to members of the public take out such policies.
Kent Reliance have agreed my home loan in principle, my offer on a house in Wolverhampton has been agreed to, what happens next?
The property agent will want to know who your solicitors are (be sure the solicitors are on the bank’s approved list). Call up Kent Reliance or your broker and complete any appropriate documentation. Kent Reliance will appoint a valuer who will get in touch with the selling agent or vendor to schedule an appointment. Once carried out (assuming no problems) it takes about a fortnight for the mortgage offer to be issued. Kent Reliance will issue the offer to you and your property lawyers. The transaction will then take it’s course according the nature and complexity of the conveyancing in Wolverhampton.
How does conveyancing in Wolverhampton differ for newly converted properties?
Most buyers of new build residence in Wolverhampton come to us having been asked by the developer to sign contracts and commit to the purchase even before the premises is completed. This is because house builders in Wolverhampton usually acquire 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 accustomed to new build conveyancing in Wolverhampton or who has acted in the same development.
How can the Landlord & Tenant Act 1954 impact my commercial offices in Wolverhampton and how can your lawyers assist?
The particular law that you refer to gives security of tenure to business lessees, giving them the dueness to apply to court for a continuation of occupancy when the lease comes to an end. There are limited grounds that a landlord can refrain from granting a lease renewal and the rules are complex. Fees are different for commercial conveyancing. Wolverhampton is one of the hundreds of locations in which our lawyers have offices