My previous solicitor has quoted £995 for freehold conveyancing in East Finchley. I’m looking to sell a newly refurbished property for £250,000. Are these estimated fees excessive? Is it above what I should be paying for conveyancing in East Finchley?
The estimate does seem a tad overpriced. If you shop around you might get the conveyancing a bit cheaper by as much as £125. That being said, you mightlive to rue opting for an an unknown conveyancer. Remember to be sure the solicitor can act for your mortgage company. You can use our comparison tool to choose a East Finchley conveyancing company on the lender’s conveyancing panel which can often include conveyancing solicitors in East Finchley.
What does my ID and proof of funds have anything to do with my conveyancing in East Finchley? Why is this being asked of me?
Anti-terror and anti-money-laundering regulations require solicitors and licensed conveyancers to verify the identification documents of the person or body they are dealing with prior to agreeing to accepting their conveyancing instruction. The Terms and Conditions that you need to sign should confirm this. Your lawyer also has obligations to obtain certain documents in accordance with the CML Lenders Handbook requirements last updated on 1st December 2014. If you refuse to hand over ID verification documents, your solicitor would not be able to act for you.
I am selling our home in East Finchley and according to the buyers it appears that there is a possibility that the property was constructed land that was not decontaminated. A local lawyer would know that there is no such problem. It does beg the question why the purchasers instructed an internet conveyancing outfit rather than a conveyancing solicitor in East Finchley. Having lived in East Finchley for 5 years we know that this is a non issue. Should we get in touch with our local Authority to seek clarification that there is no issue.
It would appear that you have a conveyancing firm already. What do they say? You need to enquire of your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out health insurance to cover that same ailment)
How does conveyancing in East Finchley differ for newly converted properties?
Most buyers of new build residence in East Finchley contact us having been asked by the seller to exchange contracts and commit to the purchase even before the residence is ready to move into. This is because builders in East Finchley tend to purchase the land, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancing solicitors as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are accustomed to new build conveyancing in East Finchley or who has acted in the same development.
I have been on the look out for a leasehold apartment up to £305k and identified one near me in East Finchley I like with open areas and station in the vicinity, the downside is that it only has 49 remaining years left on the lease. I can't really find anything else in East Finchley suitable, so just wondered if I would be making a mistake buying a lease with such few years left?
Should you require a home loan the shortness of the lease will likely be an issue. Reduce the offer by the amount the lease extension will cost if not already taken into account. If the existing owner has owned the premises for a minimum of twenty four months you can ask them to start the process of the extension and then assign it to you. An additional ninety years can be extended on to the current lease with a zero ground rent applied. You should consult your conveyancing lawyer regarding this.
I have been sourcing a conveyancing solicitor in East Finchley for my house move. Is it possible to check a solicitor's record with the profession’s regulator?
Anyone can search for presented Solicitor Regulator Association (SRA) decisions resulting from investigations from 2008 onwards. Visit Check a solicitor's record. For information about the period before 1 January 2008, or to check a firm's record, telephone 0870 606 2555, 08.00 - 18.00 any week day save for Tuesday when lines open at 9.30am. International callers, call +44 (0)121 329 6800. The SRA could monitor call for training reasons.