My partner and I are acquiring a newly constructed duplex in Brighstone and my lawyer is advising me that she is duty bound to the bank to disclose incentives from the developer. I am under pressure to exchange and I have no desire 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 conveyancing practitioner. A precondition to being on a mortgage company 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.

How does conveyancing in Brighstone differ for new build properties?

Most buyers of new build property in Brighstone come to us having been asked by the seller to exchange contracts and commit to the purchase even before the residence is constructed. This is because developers in Brighstone tend to acquire the land, 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 property lawyers 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 used to new build conveyancing in Brighstone or who has acted in the same development.

I am looking into buying my first house which is in Brighstone and I am already nervous. I couldn't find anything specific about Brighstone. Conveyancing will be needed in due course but do you know about the Brighstone area? or perhaps some other tips you can share?

Rather than looking online forget looking online you should go and have a look at Brighstone. In the meantime here are some basic statistics that we found

We expect to complete the disposal of our £125,000 garden flat in Brighstone in 10 days. The management company has quoted £300 for Certificate of Compliance, insurance certificate and 3 years statements of service charge. Is the landlord entitled to charge an administration fee for a leasehold conveyance in Brighstone?

For the majority of leasehold sales in Brighstone conveyancing will involve, queries regarding the management of a building inevitably needing to be answered directly by the freeholder or its agent, this includes :

Completing pre-exchange enquiries Where consent is required before sale in Brighstone Supplying insurance information Deeds of covenant upon sale Registering of the assignment of the change of lessee after a sale

Your solicitor will have no control over the level of the charges for this information but the average costs for the information for Brighstone leasehold premises is £350. For Brighstone conveyancing transactions it is customary for the seller to pay for these costs. The landlord or their agents are under no legal obligation to answer such questions most will be willing to do so - albeit often at exorbitant prices where the fees bear little relation to the work involved. Unfortunately there is no law that requires fixed charges for administrative tasks. Neither is there any legal time frame by which they are obliged to supply answers.

Brighstone Conveyancing for Leasehold Flats - Sample of Questions you should consider Prior to buying

How much is the ground rent and service charge? How long is the Lease? The majority of Brighstone leasehold flats will have a service charge for the upkeep of the block set on behalf of the management company. Where you acquire the apartment you will have to pay this amount, usually periodically accross the year. This can be anything from a few hundred pounds to thousands of pounds for blocks with lifts and large communal grounds. In all likelihood there will be a rentcharge for you to pay annual, this is usually not a large figure, say approximately £25-£75 but you need to enquire it because occasionally it could be prohibitively expensive.

Our solicitor in Brighstone has identified a a legal deficiency with the lease for the apartment we are purchasing in Brighstone. The other side have suggested title insurance as a solution. We are happy with insurance and will pay for it. Our lawyer has advised that as he is on the mortgage company conveyancing panel he must ensure that the lender is happy with this solution. Are we the client or is the bank?

Just because you have a mortgage offer from the lender does not mean to say that the property will be meet their requirements for the purposes of a mortgage. Your Brighstone conveyancing lawyer has to ensure that the lease has to comply with the UK Finance Lenders’ Handbook Requirements. You and the mortgage company are the client. These conveyancing instructions have to be complied with by the lender conveyancing panel who has to balance acting for you and the mortgage company