My husband and I are buying a newly built apartment in Mancot 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 my preference is not to delay the conveyancing. 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 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.
We are expecting a mortgage offer soon. The bank mentioned the mortgage came with free conveyancing. Is the implication that I have to instruct their panel solicitor as I would prefer to use a Mancot based conveyancing firm?
You should check but the the likelihood is that allocate you one of their panel conveyancers if you accept the "fee-free" offer. Speak to the lender and see if they offer you a monetary alternative. Some lenders have previously offered a £250 cashback as an alternative in which case that money can go towards the cost for your conveyancing solicitor in Mancot.
My solicitor has informed me that defective lease insurance is necessary on my purchase. What is the level of cover for Mancot conveyancing?
The appropriate level of defective lease indemnity insurance depends on your lender. It would differ for example between Halifax and The Mortgage Works. Conveyancing solicitors as opposed to members of the public take out such insurances.
is it true that all Mancot solicitors on the Bank of Ireland conveyancing panel are governed by the Solicitors Regulatory Authority?
As a firm of solicitors, in order to be on the Bank of Ireland approved list of solicitors they would need to be regulated by the SRA. The majority of banks do list licenced conveyancers on their panel and in that case the firms would be governed by the Council of Licensed Conveyancers.
We expect to receive a OIP from Aldermore this week so we know how much we could potentially offer as otherwise we only have online calculators to go by (which aren't taking into account credit checks etc). Do Aldermore recommend any Mancot solicitors on the Aldermore conveyancing panel, or is it better to find our own lawyer?
You will need to appoint Mancot solicitors independently although you'll need to choose one on the Aldermore conveyancing panel. The solicitor represents both you and Aldermore through the process.
I require quick conveyancing in Mancot as I am under a deadline to complete in less than one month. Thankfully I do not need a mortgage. Is it possible to avoid the conveyancing searches to save money and time?
If.Given you are are a mortgage free purchaser you have the choice not to do searches although no lawyer would suggest that you don't. With plenty of history conveyancing in Mancot the following are instances of issues that can appear and therefore affect future mortgageability: Enforcement Notices, Outstanding Fees, Overdue Grants, Railway Schemes,...
Are there restrictive covenants that are commonly identified as part of conveyancing in Mancot?
Covenants that are restrictive in nature can be picked up when reviewing land registry title as part of the process of conveyancing in Mancot. 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…’