My family solicitor has sent a quote for £1150 for fixed fee conveyancing in Marylebone. I’m selling a purpose built property for £225,000. This sounds too much. Is it in excess of the norm for conveyancing in Marylebone?
The quote is slightly on the expensive side. If you shop around you could get the conveyancing a bit cheaper by say £100 plus VAT. That being said, you mightlive to rue opting for an a cheaper solicitor. Remember to be sure the conveyancer can also act for your lender. Do make use of our comparison tool to find a Marylebone conveyancing firm on the lender’s approved list of lawyers which can often include conveyancing solicitors in Marylebone.
At what point will exchange of contracts occur in residential conveyancing in Marylebone and do I need to be at the conveyancers branch?
Where you are in close proximity to one of the conveyancing solicitors in Marylebone you are welcome to come in to sign contracts. However, the firms we work with provide countrywide coverage for conveyancing and provide just as comprehensive and professional a job for you when communicating with you electronically. The executing of the contract is not the important part. Signing on the dotted line simply enables the solicitor to officially exchange when the time is right, which is ordinarily shortly after signing. The procedure is is usually a five minute process, although where a long "chain" is in play, since the process requires the relevant party's solicitor (not necessarily a conveyancing solicitor in Marylebone)to be in the office at the appropriate time.
We're in Marylebone, First time buyers purchasing with a mortgage (lender is Virgin Money , and our solicitor is on the Virgin Money conveyancing panel). How long should the conveyancing process take?
The fact that your lawyer is on the Virgin Money conveyancing panel is a help. It would almost certainly delay matters if they were not. However, no conveyancer should guarantee a timeframe for your conveyancing, due to third parties outside of your control such as delays caused by lenders,conveyancing search providers or by the other side’s solicitors. The time taken is often determined by the number of parties in a chain.
I'm buying a new build house in Marylebone benefiting from help to buy. The developers would not reduce the price so I negotiated £7000 of additionals instead. The estate agent suggested that I not disclose to my conveyancer about this side-deal as it could affect my loan 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.
Due to the guidance of my in-laws I had a survey completed on a house in Marylebone before appointing conveyancers. I have been informed that there is a flying freehold element to the house. Our surveyor advised that some lenders will refuse to grant a mortgage on a flying freehold home.
It varies from the lender to lender. Santander has different instructions from Halifax. Should you wish to call us we can look into this further with the appropriate lender. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Marylebone. Conveyancing may be slightly more expensive based on your lender's requirements.
My father has encouraged me to appoint his lawyers for conveyancing in Marylebone. Do I take his recommendation?
No doubt the ideal way to find a conveyancing solicitor is to get feedback from friends or family who have actually used the firm that you are are thinking of instructing.