Our family lawyer has given a fee estimate £1400 for fixed fee conveyancing in Bryncoch. I’m selling a purpose built house for £300,000. Are these conveyancing fees excessive? Is it in excess of what I should be paying for conveyancing in Bryncoch?
The charges are a little high. Where you are content to expend time contrasting charges you could get the conveyancing a bit cheaper by say £100 plus VAT. That being said, you couldlive to regret choosing an an untested lawyer. Remember to check that the conveyancer can represent your lender. Do use our comparison tool to find a Bryncoch conveyancing company on the lender’s member panel which can often include conveyancing solicitors in Bryncoch.
In what way does my ID and proof of funds have anything to do with my conveyancing in Bryncoch? Why is this being asked of me?
Bryncoch conveyancing solicitors and indeed property lawyers accross the UK have a duty under money laundering regulations to verify the ID of any client with a view to satisfy themselves that clients are who they say they are.
Conveyancing clients will need to provide two forms of certified ID; proof of ID (typically a Passport or Driving Licence) and proof of address (usually a Utility Bill no more than three months).
Confirmation of the origin of funds is also necessary in compliance with the money laundering statutes as lawyers are required to check that the monies you are utilising to buy a property (be it the exchange deposit or the total purchase amount where you are a cash purchaser) has come from legitimate source (such as an inheritance) as opposed to the proceeds of criminal behaviour.
Are there restrictive covenants that are commonly picked up during conveyancing in Bryncoch?
Covenants that are restrictive in nature can be picked up when reviewing land registry title as part of the legal transfer of property in Bryncoch. 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…’
How does conveyancing in Bryncoch differ for newly converted properties?
Most buyers of new build or newly converted property in Bryncoch approach us having been asked by the seller to sign contracts and commit to the purchase even before the premises is finished. This is because new home sellers in Bryncoch usually purchase 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 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 Bryncoch or who has acted in the same development.
Over the last few months I have been searching for a leasehold apartment up to £245,000 and found one near me in Bryncoch I like with open areas and railway links in the vicinity, the downside is that it's only got 49 years on the lease. There is not much else in Bryncoch for this price, so just wondered if I would be making a mistake buying a lease with such few years left?
If you need a mortgage that many years will likely be an issue. Discount the offer by the anticipated lease extension will cost if not already taken into account. If the existing proprietor has owned the property for at least 2 years you could ask them to start the process of the extension and pass it to you. An additional ninety years can be extended on to the existing lease and have £0 ground rent by law. You should consult your conveyancing lawyer concerning this.
I was advised by my bank that their approved conveyancers operate no sale no fee basis for conveyancing in Bryncoch. My purchase aborted nevertheless the solicitors have requested search fees! They say the fees are nothing to do with their fees!
Bryncoch conveyancing search fees are disbursements not legal fees as these are payable to independent parties.