The solicitor who dealt with my last purchase has quoted £1700 for no completion no fee conveyancing in Ferndown. I am hoping to sell a Victorian house for £225,000. Are these estimated fees excessive? Is it above what I should be paying for conveyancing in Ferndown?
The charges are a little high. Where you are prepared to expend time comparing costs you could get the conveyancing a bit cheaper by perhaps £100 plus VAT. That being said, you couldlive to rue opting for an an unknown lawyer. If is important to ensure that the solicitor can also act for your lender. Do utilise our search tool to locate a Ferndown conveyancing firm on the banks approved list of lawyers which can often include conveyancing solicitors in Ferndown.
Due to complete my purchase in Ferndown next Friday. I have now been asked to send a copy of my building insurance schedule by my solicitor as as she informs me that she is duty bound to validate that it is in order for the mortgage company. What does the insurance need to cover?
All property lawyers on acting for lenders would need to check that the following risks are covered fire; lightning; aircraft; explosion; earthquake; storm; flood; escape of water or oil; riot; malicious damage; theft or attempted theft; falling trees and branches and aerials; subsidence; heave;landslip;collision;accidental damage to underground services;professional fees, demolition and site clearance costs; and public liability to anyone else. There are some other issues such as the level of excess that are set out in a lender’s Part 2 conditions. These obligations are not specific to conveyancing in Ferndown.
In what way does my ID and proof of funds have anything to do with my conveyancing in Ferndown? What am I being asked for?
To satisfy the Money Laundering Regulations any Ferndown conveyancing firm will require evidence of your identity in all conveyancing matters. This is normally dealt with by provision of a passport and an original bank statement or utility account evidencing where you reside.
Under Money Laundering Regulations, conveyancers are duty bound to check not simply the identity of conveyancing clients but also the source of the money that they receive in respect of any matter. An unwillingness to disclose this will result in your solicitor terminating their retainer with you, as clearly this will cause a conflict between the set Regulations and a refusal to disclose.
Your conveyancers will have an obligation to inform the relevant authorities should they consider that any amounts received by them may contravene the Anti-terror and anti-money-laundering rules.
How does conveyancing in Ferndown differ for new build properties?
Most buyers of new build or newly converted property in Ferndown approach us having been asked by the builder to sign contracts and commit to the purchase even before the property is built. This is because new home sellers in Ferndown 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 conveyancers 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 used to new build conveyancing in Ferndown or who has acted in the same development.
I've recently found out that there is a flying freehold element on a house I have offered on two weeks back in what was supposed to be a quick, chain free conveyancing. Ferndown is the location of the property. Is there any guidance you can impart?
Flying freeholds in Ferndown are rare but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Ferndown you would need to get your solicitor to go through the deeds thoroughly. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Ferndown may determine that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold property.
How can the Landlord & Tenant Act 1954 affect my commercial premises in Ferndown and how can your lawyers assist?
The 1954 Act gives protection to business leaseholders, granting the dueness to apply to court for a continuation of occupancy at the end of the lease term. There are limited grounds that a landlord can refrain from granting a lease renewal and the rules are complex. We are happy to direct you to commercial conveyancing solicitors who use the act for protection and handle your commercial conveyancing in Ferndown