In the event thatI was to purchase a freehold homein Custom House for cash and dispense with a survey and no conveyancing searches how much should I expect to to save on my conveyancing in Custom House?
Any savings you would achieve would be isolated to the Custom House conveyancing searches. Your conveyancer still be obliged to do everything else - money laundering, communicating with your vendors conveyancing practitioner, stamp duty return, register the ownership etc. A marginal saving might be made by not needing to register a charge however it won't be significant.
My wife and I are purchasing a property in Custom House. It might be a silly question but how we can trust a solicitor? On completion day we will need to put funds into their account. What protection do we have from them run away with our money?
Be assured that all money in a Solicitors client account is 100% safe, and even if your Solicitor ran off with it, the Law Society would reimburse you fully.
We previously selected solicitors locally in Custom House on the Bank of Ireland solicitor approved list. They are now charging me a separate fee for the legal aspects of the Bank of Ireland mortgage. Is this an additional conveyancing fee specified by Bank of Ireland?
Provided it is contained in their Terms and Conditions or Quote then yes your lawyer can levy a fee for this. The charge is not set by Bank of Ireland but by your Custom House solicitor. Some firms on the Bank of Ireland panel will charge ’dealing with mortgage’ fee but some firms incorporate it on their overall fee.
How can we tell if a Custom House conveyancing solicitor on the Principality panel is any good?
When it comes to conveyancing in Custom House obtaining recommendations is a good starting point. Before you go ahead, check if they offer a no sale no fee offer. Also, you often get what you pay for - a firm which quotes more, will often provide a better service than one which is cheap as chips. We would always advocate that you speak with the lawyer conducting your transaction.
Will my conveyancer be raising questions about flooding during the conveyancing in Custom House.
The risk of flooding is if increasing concern for solicitors dealing with homes in Custom House. There are those who acquire a house in Custom House, fully expectant that at some time, it may be flooded. However, aside from the physical damage, where a house is at risk of flooding, it may be difficult to get a mortgage, adequate building insurance, or sell the property. There are steps that can be taken as part of the conveyancing process to forewarn the buyer.
Conveyancers are not best placed to offer advice on flood risk, however there are a various checks that may be undertaken by the purchaser or by their solicitors which can give them a better understanding of the risks in Custom House. The standard completed inquiry forms given to a purchaser’s lawyer (where the Conveyancing Protocol is adopted) includes a standard question of the vendor to discover if the property has suffered from flooding. If flooding has previously occurred which is not disclosed by the vendor, then a buyer may bring a compensation claim stemming from an incorrect answer. The buyer’s lawyers should also commission an enviro search. This will indicate if there is a recorded flood risk. If so, more detailed investigations should be conducted.
I am purchasing my first flat in Custom House benefiting from help to buy. The builders would not budge the amount so I negotiated £7000 of fixtures and fittings instead. The property agent suggested that I not inform my solicitor about the side-deal as it could adversely affect my loan with the lender. Is this normal?.
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.
Is it simple use the search facility to choose a conveyancing practitioner in Custom House on the authorised to act for my mortgage?
1st select a bank such as Santander, Skipton Building Society or Platform Home Loans Ltd then specify your preferred area e.g. Custom House. Conveyancing practices in Custom House and beyond will then be identified.
Is there a reason that Custom House conveyancing costs are more expensive for leasehold and freehold properties?
Leasehold conveyancing in Custom House can involve additional due diligence such as reviewing the lease, liaising with the landlord, obtaining up to date rent receipts, landlord’s consents, management company’s accounts etc.