We are acquiring a newly built flat in Lacock and my conveyancer is advising me that she has to the mortgage company to reveal incentives from the developer. I am nearing the developer’s deadline to exchange contracts and I would rather not prolong deal. Is my lawyer right?

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

When does exchange of contracts happen for sale conveyancing in Lacock and am I required to attend the solicitors branch?

If you are local to one of the conveyancing solicitors in Lacock you are welcome to attend to sign contracts. However, the lender approved solicitors we work with offer countrywide coverage for conveyancing and give just as comprehensive and professional a job for you when dealing with you by post or email. The executing of the contract is not when everything is set in stone. Signing on the dotted line is just a prerequisite for the firm to exchange contracts when the time is right, which is ordinarily shortly after signing. The procedure is nowadays normally dealt with by telephone and can be very rapid, although where an extended "chain" is involved, since the process requires the relevant party's solicitor (not necessarily a conveyancing solicitor in Lacock)to be in the office available at the end of the phone to exchange contracts.

My brother-in-law has suggested I instruct a conveyancing solicitor in Lacock. I I would like to check if they are accepted on the The Royal Bank of Scotland approved list of lawyers. Could you or the lender confirm if they are on the panel?

The first thing you should do is call your solicitor and enquire if they are on the lender panel. Otherwise you can get in touch with The Royal Bank of Scotland who may be able to confirm.

Will our solicitor be raising questions regarding flooding as part of the conveyancing in Lacock.

The risk of flooding is if increasing concern for solicitors dealing with homes in Lacock. There are those who acquire a property in Lacock, fully aware that at some time, it may be flooded. However, aside from the physical damage, if a property is at risk of flooding, it may be difficult to obtain a mortgage, adequate building insurance, or sell the premises. Steps can be carried out as part of the conveyancing process to forewarn the buyer.

Conveyancers are not best placed to impart advice on flood risk, but there are a numerous searches that can be undertaken by the purchaser or by their conveyancers which can figure out the risks in Lacock. The standard completed inquiry forms supplied to a buyer’s solicitor (where the Conveyancing Protocol is adopted) incorporates a usual question of the vendor to discover if the property has ever been flooded. If the premises has been flooded in past and is not notified by the owner, then a purchaser may issue a compensation claim stemming from an inaccurate answer. A buyer’s lawyers will also conduct an enviro report. This should indicate if there is a recorded flood risk. If so, additional investigations should be carried out.

The estate agent has sent us the confirmation of our purchase of a new build flat in Lacock. Conveyancing is a frightening process at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build conveyancing.

Set out below are examples of a few leasehold new build questions that you should expect your new-build leasehold conveyancing in Lacock

If there are lifts in the building, please confirm that the owners of flats on the ground and basement floors will not be required to contribute towards the cost of maintenance and renewal. Investor purchasers must be able to freely grant unsecured tenancies at market rents without requiring any consents. The Landlord must covenant to assume the management if the Management Company goes into liquidation or otherwise defaults in running the management scheme. Will control of the Management Company (if any) be handed over to purchasers on completion of the last sale or earlier? Please supply evidence that the form of Lease proposed has been approved by the Land Registry.