We are soon to complete on the purchase of a property in Barry but as a result of wreckage from the recent storms I have managed to agree compensation from the seller of £3k taking the form of a adjustment in the price. I had intended this to be dealt with as part of a side agreement yet Nationwide will not permit this. Why were they involved?
Your lawyer being on a Nationwide conveyancing panel is obliged to inform Nationwide of any changes to the purchase price. If you prohibit your conveyancing practitioner to report the reduction to Nationwide then they would have to discontinue acting for you. In addition, Nationwide and you would have to appoint a new property lawyer for your conveyancing in Barry.
Me and my partner are buying a apartment in Barry. I might seem paranoid but how we can trust a solicitor? At some point we have to put funds into their account. What is the protection we have from them run away with our money?
Be assured that all money in a Solicitors client account is 100% safe, and even if your Solicitor ran off with it, the Law Society would reimburse you fully.
There are plenty of conveyancing solicitors in Barry but how do I know who I should use?
It would be unwise to be tempted by the lowest Barry conveyancing quote. You really do get what you pay for when it comes to conveyancing solicitors. A cheap quote may mean that the conveyancing solicitor is handling a lot of jobs at one time and you won’t get the quality of service and the attention that you need. It is, however, wise to use a conveyancer who has a fixed fee on a no sale, no fee basis. This way, you know exactly what you’ll have to pay in advance.
Planning on purchasing a house in Barry. I have received an online quote from a licenced conveyancer, which states: "There will be no charge for dealing with the Building Society if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the HSBC conveyancing panel. I wanted to make sure it means there will be no additional fees for dealing with the mortgage.
They are simply saying that the cost for acting for the lender is included in the fee being quoted. It is worth you checking that the Barry lawyer is on the HSBC conveyancing panel.
Various web forums that I have come across warn that are the primary reason for obstruction in Barry house deals. Is this right?
The Council of Property Search Organisations (CoPSO) published findings of a review by MoveWithUs that conveyancing searches do not figure amongst the top 10 causes of delays in the conveyancing process. Searches are not likely to feature in any holding up conveyancing in Barry.
How does conveyancing in Barry differ for newly converted properties?
Most buyers of new build residence in Barry come to us having been asked by the developer to sign contracts and commit to the purchase even before the house is finished. This is because new home sellers in Barry usually purchase the site, 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 Barry or who has acted in the same development.
Due to the advice of my in-laws I had a survey completed on a property in Barry before instructing lawyers. I have been advised that there is a flying freehold overhang to the property. The surveyor has said that some mortgage companies will not give a mortgage on such a property.
It varies from the lender to lender. Lloyds has different requirements from Birmingham Midshires. If you e-mail us we can investigate further via the relevant lender. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Barry. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Barry to see if the conveyancing costs will increase in light of this.
We today found out that one of the partners of the law firm handling the purchase conveyancing in Barry is a relative of the seller. Is this acceptable?
Provided no conflict arises this is permitted. If you are needing a mortgage then the lender may have a say as many lenders have specific requirements on this. For example for Nationwide Building Society as of 27/4/2024, the requirements read as follows :