Just been in touch with my conveyancing lawyer in Portsmouth who completed the legal work two years ago and wanted a conveyancing costs illustration based on the same type of house move (a leasehold premises and a freehold property) of almost identical values with a mortgage from Birmingham Midshires. It looks as though am now being charged double. Better the devil I know or do I seek out an alternative property lawyer?
The charges appear a tad high. If you are happy to spend time scrutinising quotes you may be able to shave off some of the expense by perhaps £125. That being said, if you were pleased with the service the firm offered you mightcome to rue opting for an an untested lawyer. If is important to be sure the firm can act for Birmingham Midshires. You can make use of our search tool to find a Portsmouth conveyancing firm on the Birmingham Midshires approved list of lawyers, which can often include conveyancing solicitors in Portsmouth.
My partner and I are buying our first home. The solicitor has messagedto check if we wish to purchase additional conveyancing searches. We are really unsure what's appropriate for conveyancing in Portsmouth
The type of Portsmouth conveyancing searches depends entirely on the property, the location, the possibility of any of these risks, your knowledge of the locality and risks, your general appetite to risk. What matters is that you adequately comprehend what information the searches could supply. Then you can make a decision if you consider that you need that information. If uncertain, ask the property lawyer to advise.
What does my ID and proof of funds have anything to do with my conveyancing in Portsmouth? Why is this being asked of me?
Portsmouth conveyancing solicitors as well as nationwide property lawyers accross the UK have an obligation under Anti-terror and anti-money-laundering rules to verify the ID of any client in order to satisfy themselves that clients are who they say they are.
Conveyancing clients will need to produce two forms of certified identification; proof of identity (usually a Passport or Driving Licence) and proof of address (usually a Utility Bill no more than three months).
Evidence of the origin of monies is also required under the money laundering regulations as lawyers have a duty to investigate that the funds you are utilising to buy a property (whether it be the deposit for exchange or the full purchase price where you are buying mortgage free) has originated from an acceptable source (such as an inheritance) rather than the proceeds of criminal activity.
Will my conveyancer be asking questions about flooding during the conveyancing in Portsmouth.
Flooding is a growing risk for lawyers specialising in conveyancing in Portsmouth. Some people will acquire a property in Portsmouth, completely aware that at some time, it may be flooded. However, leaving to one side the physical damage, where a house is at risk of flooding, it may be difficult to get a mortgage, satisfactory building insurance, or sell the property. Steps can be carried out during the course of a house purchase to forewarn the buyer.
Lawyers are not best placed to give advice on flood risk, however there are a number of checks that can be initiated by the buyer or on a buyer’s behalf which can figure out the risks in Portsmouth. The conventional set of information sent to a purchaser’s lawyer (where the solicitors are adopting what is known as the Conveyancing Protocol) includes a usual question of the seller to find out if the premises has suffered from flooding. If flooding has previously occurred and is not revealed by the owner, then a buyer may commence a claim for damages resulting from an incorrect answer. The buyer’s solicitors may also carry out an environmental search. This should reveal if there is a recorded flood risk. If so, additional inquiries will need to be made.
My husband and I are a couple of weeks into a leasehold purchase having been recommend to conveyancers by the local agent to perform conveyancing in Portsmouth. We are not happy. Could you help me find new solicitors?
They would have to be really bad in order to consider changing them. Has the loan offer been generated? If so you need to inform them of the new contact details and get the loan are re-issued. Your conveyancer should be on the lenders approved list to avoid escalating charges and frustration. So that should be your first question of the new conveyancers. Our find a solicitor tool will help you find a lender approved conveyancer for your conveyancing in Portsmouth
My son is just in the process of moving house, the home loan was agreed last week in principle. After the seller agreed the offer on the house we called the building society to progress the mortgage application. We were shocked to discover that mortgage lenders do not accept all solicitor, they need to be on their approved list, is this right?
Mortgage Companies ordinarily imposes restrictions either the type or the number of conveyancing practices on their approved list of lawyers. Typical examples of such restriction(s) being that a firm must have two or more partners. In addition to restricting the type of firm, some have decided to limit the number of firms they use to represent them. You should note that lenders have no responsibility for the quality of advice provided by any Portsmouth conveyancer on their panel. Mortgage fraud was a key driver in the rationalisation of conveyancing panels a few years ago and whilst there are differing views about the extent of solicitor involvement in some of that fraud. Statistics from the Land Registry reveal that thousands of law firms only carry out one or two conveyances a year. Those supporting conveyancing panel cuts ask why law firms should have the right to be on a Lender panel when clearly, conveyancing is not their speciality. To put it another way; would you want a conveyancing solicitor to represent you if you were charged with a crime? Unlikely.