The solicitor who assisted with my previous purchase has given a fee calculation of £1150 for fixed fee conveyancing in Lydney. I am hoping to sell a modern house for £300,000. Are these conveyancing fees excessive? Is it in excess of what I should be paying for conveyancing in Lydney?
The estimate does seem marginally overpriced. If you shop around you could reduce the fees marginally by say a hundred pounds. That being said, you maylive to regret opting for an a cheaper solicitor. If is important to ensure the firm can represent your bank. You can use our comparison tool to find a Lydney conveyancing practice on the banks conveyancing panel which can often include conveyancing solicitors in Lydney.
My solicitor has discovered a a problem with the lease for the property we are purchasing in Lydney. The seller’s lawyers have put forward title insurance as a workaround. We are happy with insurance and will pay for it. Our solicitor has advised that he must ensure that the bank is willing to move forward with this solution. Are we the client or is the lender?
The short answer to your last question is that, notwithstanding the risk of a conflict of interest, you and the bank are the client. Your lawyer must comply with the UK Finance Lenders’ Handbook specifications. The UK Finance Lenders’ Handbook conditions require your lawyer to disclose issues such as defects with the lease so that the mortgage company can be afforded the opportunity to check with their valuer as to the extent that the value of the property is affected. Should you refuse to allow your lawyer to make the appropriate notification then your property lawyer will have no choice but to discontinue acting for you.
As someone unfamiliar with the Lydney conveyancing process what’s the number one tip you can give me concerning the legal transfer of property in Lydney
You may not hear this from too many lawyers but conveyancing in Lydney or throughout England and Wales is often a confrontational experience. In other words, when it comes to conveyancing there exists an abundance of room for conflict between you and other parties involved in the legal transfer of property. For example, the seller, selling agent and sometimes the lender. Selecting a law firm for your conveyancing in Lydney should not be taken lightly as your conveyancer is your adviser, and is the ONLY person in the legal process whose responsibility is to protect your best interests and to protect you.
Sometimes a third party with a vested interest may attempt to convince you that it is in your interests to do things their way. For example, the selling agent may claim to be assisting by claiming that your lawyer is slow. Or your financial adviser may tell you to do take action that is against your solicitors guidance. You should always trust your lawyer above all other parties in the conveyancing process.
The deeds to our home can not be found. The solicitors who did the conveyancing in Lydney 4 years ago are no longer around. What do I do?
You no longer need to hold title deeds to evidence that you are the owner of your registered land or premises, given that the Land Registry hold details of all registered land or property electronically.
I am buying a new build house in Lydney with a loan from Yorkshire Building Society. The developers refused to move on the price so I negotiated five thousand pounds worth of extras instead. The property agent told me not inform my conveyancer about the deal as it would jeopardize my mortgage with the bank. 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.
How simple is it to use the search app to find a conveyancing lawyer in Lydney on the authorised to act for my mortgage?
1st choose a mortgage company such as Barclays , The Mortgage Works or Nottingham Building Society then type in your preferred area for example Lydney. Conveyancing firms in Lydney and beyond should be listed.