We were about to choose a conveyancing solicitor in Locks Heath endorsed by you but stumbled across alternative fee calculations via the web seem less expensive – how come?
You can find lots of solicitors advertising at first sight what seems to be cut price. Our advice is to think long and hard as to how important this transaction is to you that want to be penny wise pound foolish concerning the quality of the conveyancing. Many of them list a bargain quote to grab your attention but hide extra charges in the small print..
Please explain the implications if my lawyer’s firm is expelled from the Yorkshire BS Conveyancing panel ahead of completing my conveyancing in Locks Heath?
The first thing to point out is that, this is very unlikely to happen. In most cases even where a law firm is removed off of a panel the lender would allow the completion to go ahead as the lender would appreciate the difficulties that they would place you in if you have to instruct a new solicitor days before completion. In a worst case scenario where the lender insists that you instruct a new firm then it is possible for a very good lawyer to expedite the conveyancing albeit that you may pay a significant premium for this. The analogous situation is where a buyer instructs a lawyer, exchanges contracts and the law firm is shut down by a regulator such as the SRA. Again, in this situation you can find lawyers who can troubleshoot their way to bring the conveyancing to a satisfactory conclusion - albeit for a fee.
It has been 3 months since my purchase conveyancing in Locks Heath completed. I have checked the Land Registry website which shows that I paid £175,000 when infact I paid £180,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the premises from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
Over the last few months I have been searching for a ground for flat up to £305k and found one close by in Locks Heath I like with amenity areas and station nearby, the downside is that it only has 51 years on the lease. I can't really find anything else in Locks Heath suitable, so just wondered if I would be making a mistake buying a short lease?
Should you need a mortgage the remaining unexpired lease term will be a potential deal breaker. Reduce the price by the expected lease extension will cost if it has not already been discounted. If the current proprietor has owned the premises for at least twenty four months you may ask them to commence the lease extension formalities and pass it to you. An additional ninety years can be extended on to the current lease term and have £0 ground rent by law. You should speak to your conveyancing solicitor about this matter.
I have been recommended by numerous estate agents in Locks Heath to locate a property lawyer using your seach tool. Is there a financial upside for Estate Agents to promote your services over another?
We don’t offer any referral fee for sending work to this site. We thought it would be too underhand to pay a commission as a client could think, ‘Why is the agent getting a kickback? Why am I not getting any benefit too?’ So we decided to step away from that.
We have been told by numerous family members to expect six to eight weeks for Locks Heath conveyancing to complete.This was four weeks ago. The paperwork was only forwarded to my solicitor last week so now does it countdown?
There is no conventional timeframe for conveyancing in Locks Heath, or any location. You simply have to make sure your finances are in order and wait for the rest to come together.