I was referred a solicitor who has given a fee estimate £1200 for freehold conveyancing in Cumbria. I’m selling a purpose built house for £200,000. Are the quoted fees excessive? Is it above the average fee for conveyancing in Cumbria?
The costs illustration is fractionally on the steep side. Where you are prepared to spend time scrutinising quotes you might trim some of the expense by say £125. That being said, you mightlive to rue opting for an an unknown conveyancer. Don't forget to check the conveyancer can also act for your lender. You can utilise our comparison tool to select a Cumbria conveyancing practice on the lender’s approved list of lawyers which can often include conveyancing solicitors in Cumbria.
My lawyer has uncovered a a problem with the lease for the property we are buying in Cumbria. The seller’s lawyers have offered title insurance as a workaround. We are content with insurance and will pay for it. Our conveyancing practitioner says that he must be satisfied that the bank is willing to move forward with this solution. Who is the client here, us or the mortgage company ?
Even though you have a mortgage offer from the lender does not mean to say that the property will meet their provisions for the purposes of a mortgage. Your lawyer has to ensure that the lease has to comply with the UK Finance Lenders’ Handbook provisions. You and the mortgage company are the client. The appropriate lender conditions must be adhered to.
My solicitor has informed me that missing deeds insurance is needed on my purchase. What is the typical level of cover needed for conveyancing in Cumbria?
The right level of missing deeds indemnity insurance depends on your lender. It would differ for example between Accord Mortgages Ltd and Norwich and Peterborough Building Society. Conveyancing practitioners as opposed to borrowers take out such insurances.
The formalities of my purchase has taken place for my property in Cumbria. Conveyancing was satisfactory but I feel I should register my dissatisfaction about the lender. Who do I contact should I wish to lodge a complaint?
All banks and building societies have complaints procedures. Your first port of call should be one of the lender’s branches or the Customer Services Department at head office. We understand that complaints to a lender are resolved very quickly. However if you are not satisfied that the matter is not resolved you can write to Financial Ombudsman Service, South Quay Plaza, 183 Marsh Wall, London E14 9SR who will take matters further.
Our offer on a semi in Cumbria has been accepted, the sellers do however have a connected purchase. The vendors have placed an offer on on an apartment, however it’s not yet agreed to, and are looking at other apartments in the pipeline. I have instructed a local conveyancing solicitor in Cumbria. What do I do now? When should I get the mortgage application with Virgin Money started?
It is normal to have apprehensions where there is a chain as you are unlikely to want to incur costs too early (mortgage application is in the region of £1k, then valuation, Cumbria conveyancing search fees, etc). First, you should ensure that your lawyer is on the Virgin Money conveyancing panel. As to the next steps this very much dictated by the specifics of your transaction, desire for this property and on the state of the market. In a hot market some home buyers would apply for a home loan with Virgin Money and arrange for the valuation and only if it comes back ok would they ask their lawyer to move forward with searches.
Various online forums that I have visited warn that are the primary reason for delay in Cumbria house deals. Is that correct?
The Council of Property Search Organisations (CoPSO) released conclusions of research by MoveWithUs that conveyancing searches do not figure within the common causes of hindrances in the conveyancing process. Searches are unlikely to be the root cause of slowing down conveyancing in Cumbria.
Should I instruct a Cumbria conveyancing practitioner based in the location that I am hoping to buy? An old friend can perform the legal work however his firm is located 300miles drive away.
The benefit of a local Cumbria conveyancing practice is that you can attend the office to sign paperwork, hand in your identification documents and apply pressure on them where appropriate. They will also have local intelligence which is a bonus. That being said it's more important to get someone that will do a good and efficient job. If other friends have used your friend and they were happy that must outweigh using an unknown Cumbria conveyancing lawyer just because they are round the corner.
I have just had an offer accepted on an apartment in Cumbria and the mortgage adviser that we are dealing with recommended his solicitor. He quoted a thousand pounds excluding VAT and 3rd party costs. Does this sound expensive?
Don't just go on a single quote. One should obtain like-for-like quotes for your conveyancing in Cumbria. Then choose one that you are comfortable with and just as important, is on the approved panel of the mortgage company that you have applied for a mortgage from.