My previous lawyer has sent a quote for £1400 for leasehold conveyancing in Norwood Green. I am looking to sell a purpose built property for £225,000. This appears over the top. Is it in excess of what I should be paying for conveyancing in Norwood Green?
The estimate does seem marginally overpriced. If you shop around you may be able to get the conveyancing a bit cheaper by perhaps a hundred pounds. That being said, you mightlive to regret choosing an a cheaper lawyer. Remember to be sure that the conveyancer can act for your lender. You can utilise our search tool to choose a Norwood Green conveyancing practice on the lender’s approved list of lawyers which can often include conveyancing solicitors in Norwood Green.
What does my ID and proof of funds have anything to do with my conveyancing in Norwood Green? Is this really necessary?
In order to comply with Money Laundering Regulations any Norwood Green conveyancing firm will require evidence of your identity in all conveyancing transactions. This is usually satisfied by provision of a passport and an original bank statement or utility account showing where you reside.
Under Money Laundering Regulations, conveyancers are obliged by law to check not just the identity of conveyancing clients but also the origin of the money that they receive in respect of any matter. Refusal to disclose this may result in your solicitor terminating their relationship 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 appropriate authorities should they believe that any monies received by them may contravene the Money Laundering Regulations.
Can you clarify what the consequences are if my solicitor is removed from the Skipton Solicitor panel ahead of completing my conveyancing in Norwood Green?
First, this is a very rare occurrence. 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 at a cost.
We are buying a property in Norwood Green. It might be a silly question but how we can trust a solicitor? On completion day we have to send funds into their account. What is the protection we have from them run away with our deposit?
Be assured that all money in a Solicitors client account is 100% safe, and even if your Solicitor ran off with it, the Law Society would reimburse you fully.
We previously appointed solicitors based in Norwood Green on the HSBC solicitor approved list. They have just invoiced me an additional fee for the legal aspects of the HSBC mortgage. Is this a supplemental conveyancing fee set by HSBC?
As unfair as it may seem, as long as it’s in their Terms and Conditions or Quote then yes your property lawyer can levy a fee for this. The fee is not set by HSBC but by your Norwood Green lawyer. Plenty of firms on the HSBC panel will quote ’dealing with mortgage’ fee but many firms include it on their overall fee.
Clydesdale have agreed my home loan in principle, my offer on a house in Norwood Green has been agreed to, what happens next?
The property agent will want to know who your solicitors are (ensure that the property lawyers are on the bank’s panel). Call up Clydesdale or your financial adviser and finalise any appropriate documentation. Clydesdale will instruct a valuer who will get in contact with the selling agent or vendor to book a slot for the valuation to take place. Once conducted (assuming no problems) it takes on average ten days for the mortgage offer to be issued. Clydesdale will send the offer to you and your property lawyers. The transaction will then take it’s course according the nature and complexity of the conveyancing in Norwood Green.
Yesterday I discovered that there is a flying freehold issue on a house I put an offer in a fortnight ago in what was supposed to be a simple, no chain conveyancing. Norwood Green is the location of the property. Can you shed any light on this issue?
Flying freeholds in Norwood Green are rare but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Norwood Green you must be sure that your lawyer goes through the deeds diligently. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Norwood Green may decide 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.
My partner has encouraged me to use his conveyancing solicitors in Norwood Green. Should I use them?
Much as we are happy to recommend a Norwood Green conveyancing lawyer it’s preferable to find a conveyancing practitioner is to seek recommendations from friends or family who have actually used the firm you're considering.