We chose a high street lawyer for our conveyancing in Bristol today. After carefully reading the Terms and Conditions it is apparent thatwe are responsible for charges even if the movedoes not happen. Should I ditch them and instruct a web based lawyer who offer no completion no charge conveyancing in Bristol?
Generally there is a concession along the lines that if "No Completion No Fee" is offered then the conveyancing charges will generally be uplifted to counteract the cases that abort. You should be mindful that such offerings tend not to protect you from expenditure for instance Bristol conveyancing search fees.
In the event thatI were to acquire a freehold propertyin Bristol mortgage fee and have no survey and no local authority searches how much should I expect to to save on my conveyancing in Bristol?
Any savings you would achieve will be isolated to the Bristol conveyancing searches. Your conveyancer still be obliged to do everything else - money laundering, correspond with the vendors conveyancer, SDLT return, register the ownership etc. You might save a bit for them not having to register a charge but it won't be meaningful.
In what way does my ID and proof of funds have anything to do with my conveyancing in Bristol? Why is this being asked of me?
To satisfy the Money Laundering Regulations any Bristol conveyancing firm will require evidence of your identity in all conveyancing matters. This is normally satisfied by provision of a passport and an original bank statement or utility bill evidencing your correct address.
Under Money Laundering Regulations, property lawyers are obliged by law to ascertain not just the ID of conveyancing clients but also the origin of monies that they receive in respect of any matter. Refusal to disclose this will lead to your lawyer cancelling their retainer with you, as clearly this will cause a conflict between the set Regulations and a refusal to disclose.
Your property lawyers are duty bound to inform the appropriate authorities should they believe that any amounts received by them may contravene the Anti-terror and anti-money-laundering rules.
Taking into account that I will soon part with 450k on 3 bedroom house in Bristol I would like to have a conversation with the lawyer about myhome move before giving the go ahead to the firm. Is this something that you can arrange?
Absolutely - it is our preference to talk to you we do not take any clients on without you liaising with the solicitor who will be conducting your conveyancing in Bristol.There is no ‘factory style conveyancing’ - every client is unique individual, not a matter reference. The law firms that we put you in touch with believe that the figure you are provided with for your conveyancing in Bristol should be the figure that you are charged.
Last April I purchased a leasehold flat in Bristol. Am I liable to pay service charges for periods before my ownership?
In a situation where the service charge has already been demanded from the previous owner and they have not paid you would not usually be personally liable for the arrears. However, your landlord may still be able to take action to forfeit the lease. A critical element of leasehold conveyancing for your conveyancer to be sure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.
If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).
I invested in buying a ground floor flat in Bristol, conveyancing having been completed 8 years ago. Can you work out an approximate cost of a lease extension? Similar flats in Bristol with an extended lease are worth £180,000. The average or mid-range amount of ground rent is £65 levied per year. The lease comes to an end on 21st October 2083
With only 58 years remaining on your lease we estimate the price of your lease extension to span between £22,800 and £26,400 as well as plus your own and the landlord's "reasonable" professional fees.
The figure above a general guide to costs for extending a lease, but we cannot give you the actual costs in the absence of detailed due diligence. You should not use the figures in a Notice of Claim or as an informal offer. There may be other issues that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. Neither should you move forward based on this information before seeking the advice of a professional.
Myself and my fiance have just had an offer agreed on a flat and had an appointment on Wednesday with Leeds Building Society for the mortgage. They warned us that when it comes to appointing a conveyancing practitioner that unless they are on their approved list of conveyancing practitioners then we will have to pay out an additional fee of £200. This is because they would then have to select a solicitor to act for them in addition to the one we select on our behalf and we assume responsibility for their costs. I have asked Leeds Building Society to furnish me with a list so I can request quotes only from their approved lawyers but was told that I need to check with each individual lawyer to see if they are on the panel. What would be the best way of going about this?
Ask Leeds Building Society what their panel criteria is for a conveyancer.Thereafter ask the solicitor of your choice whether they fit that criteria and have they acted on loans for Leeds Building Society previously. Where the answer to those is yes, then just clarify this with Leeds Building Society. Another option is to use our search tool and we may be able to identify a conveyancer in Bristol on the approved list for Leeds Building Society.