My family solicitor has given a fee calculation of £1200 for fixed fee conveyancing in Malden. I am selling a modern property for £275,000. This appears over the top. Is it in excess of what I should be paying for conveyancing in Malden?
The quote is fractionally on the steep side. Where you are happy to expend time comparing costs you could trim some of the expense by as much as £100 plus VAT. That being said, you maylive to rue opting for an an untested lawyer. If is important to check the firm can also act for your mortgage company. You can employ our comparison tool to choose a Malden conveyancing firm on the banks approved list of lawyers which can often include conveyancing solicitors in Malden.
Our solicitor has identified a defect with the lease for the flat we are purchasing in Malden. The seller’s lawyers have suggested defective title insurance as a workaround. We are happy with insurance and will pay for it. Our conveyancer says that he must be satisfied that the lender is happy with this solution. Who is the client here, us or the bank?
The short answer to your last question is that, notwithstanding the potential for a conflict of interest, you and the mortgage company are the client. Your conveyancing practitioner must comply with the UK Finance Lenders’ Handbook requirements. The UK Finance Lenders’ Handbook conditions require your lawyer to disclose issues such as defects with the lease so that the bank can be afforded the opportunity to check with their valuer as to the extent that the value of the property is affected. Should you refuse to allow your lawyer to make the appropriate notification then your conveyancing practitioner will have no choice but to discontinue acting for you.
Will our lawyer be asking questions concerning flooding during the conveyancing in Malden.
The risk of flooding is if increasing concern for lawyers carrying out conveyancing in Malden. Some people will acquire a house in Malden, fully aware that at some time, it may be flooded. However, aside from the physical destruction, if a house 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 purchaser.
Solicitors are not best placed to give advice on flood risk, however there are a number of searches that may be initiated by the buyer or by their solicitors which should figure out the risks in Malden. The conventional set of information given to a buyer’s solicitor (where the Conveyancing Protocol is adopted) incorporates a usual question of the owner to determine if the premises has suffered from flooding. In the event that flooding has previously occurred and is not disclosed by the vendor, then a buyer may bring a claim for damages stemming from an incorrect response. The purchaser’s conveyancers may also carry out an enviro report. This should indicate if there is any known flood risk. If so, additional investigations will need to be made.
I am purchasing my first flat in Malden with a loan from Virgin Money. The sellers would not reduce the price so I negotiated 6k of extras instead. The house builders rep suggested that I not disclose to my conveyancer about this deal as it will adversely affect my loan with the lender. Should I keep quiet?.
All lenders require a Disclosure of Incentives Form from the builder of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
I'm refinancing my existing property to a BTL loan with The Mortgage Works and I will use the rest of the raised equity as a down payment on another house. The area we are interested in is Malden. Will your conveyancers be able to act for both sets of mortgage companies and link together the transactions?
Do use our comparison tool on this page to ensure that the conveyancers are approved by both mortgage companies. Assuming that they are your conveyancer will be able to tie up the two conveyancing matters but you should talk with you solicitor and make apparent your expectations and needs.
I need to instruct a conveyancing solicitor for freehold conveyancing in Malden. I happened to chance upon a site which appears to be the perfect solution If there is a chance to get all the legals completed via email that would be ideal. Should I be wary? What should out be looking out for?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?