I was recommended to a conveyancer who has given a fee estimate £1400 for no sale no fee conveyancing in Sketty. I am hoping to sell a purpose built house for £300,000. Are the quoted fees excessive? Is it in excess of what I should be paying for conveyancing in Sketty?
The charges are a tad high. If you shop around you might get the conveyancing a bit cheaper by say £100 plus VAT. On the other hand, you couldlive to regret choosing an an unknown lawyer. Remember to enquire the conveyancer can also act for your lender. Do utilise our comparison tool to select a Sketty conveyancing firm on the lender’s member panel which can often include conveyancing solicitors in Sketty.
My husband and I are getting closer to an exchange on a property in Sketty and my parents have transferred the exchange deposit to my lawyer. I am now advised that as the deposit has not come from me my conveyancing practitioner needs to disclose this to my mortgage company. I am advised that, in also acting for the lender he must advise them that the balance of the purchase price is not just from me. I advised the mortgage company regarding my parents' contribution when I applied for the mortgage, so is it really necessary for him to raise this?
Your solicitor is legally required to clarify with the bank to ensure that they understand that the balance of the purchase price is not from your own funds. Your solicitor can only notify this to your mortgage company if you agree, failing which, your lawyer must cease to continue acting.
Should lawyers ask for an advanced payment when it comes to conveyancing in Sketty?
Where you are retaining lawyers for conveyancing in Sketty your lawyer will ask you place them with funds to cover the the cost of the conveyancing searches. This will be the total of the cost of the conveyancing searches. If any deposit is as part of the total price then this will be asked for shortly ahead of exchange of contracts. Any further balance that is needed will be payable shortly before completion.
My Conveyancer in Sketty has never been on on the Accord Mortgages Ltd Solicitor Panel. Is it possible for me to continue with my family solicitor even though they are excluded from the Accord Mortgages Ltd panel?
The limited options open to you here include:
- Carry on with your preferred Sketty lawyers but Accord Mortgages Ltd will need to retain a solicitor on their panel. This will result in additional overall conveyancing charges and result in frustration.
- Choose a new lawyer to act in the conveyancing, not forgetting to check they are on the Accord Mortgages Ltd panel
A colleague advised me that if I am purchasing in Sketty I should ask my conveyancer to perform a Neighbourhood, Planning and Local Amenity Search. What does it cover?
This is a search is occasionally quoted for as part of the standard Sketty conveyancing searches. It is not a small document of more than thirty pages, listing and detailing significant information about Sketty around the property and the people living there. It incorporates an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the local Housing Market, Council Tax Banding, the demographics of People living in the area, the dominant type of Housing, the Average Property Price, Crime statistics, Sketty Education with plans and statistics, Local Amenities and other useful data about Sketty.
I'm buying a new build house in Sketty with the aid of help to buy. The builders would not reduce the price so I negotiated five thousand pounds worth of fixtures and fittings instead. The house builders rep suggested that I not disclose to my solicitor about this extras as it would put at risk my mortgage with the bank. Should I keep quiet?.
All lenders require a Disclosure of Incentives Form from the developer 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.