My family lawyer has sent a quote for £1150 for leasehold conveyancing in Potters Bar. I am looking to sell a newly refurbished detached home for £250,000. Are these estimated fees excessive? Is it above what I should be paying for conveyancing in Potters Bar?
The costs illustration is fractionally on the high side. If you shop around you might decrease the fees slightly by say a hundred pounds. That being said, you maycome to rue choosing an an unknown lawyer. If is important to be sure the solicitor can also act for your lender. You can make use of our search tool to choose a Potters Bar conveyancing firm on the banks member panel which can often include conveyancing solicitors in Potters Bar.
My wife and I are refinancing our apartment in Potters Bar with Bank of Ireland. We have a son approaching twenty who lives at home. Our solicitor requested us to identify anyone over the age of 17 other than ourselves who lives in the flat. The solicitor has now sent a form for our son to sign, giving up any rights in the event that the apartment is repossessed. I have two questions (1) Is this form unique to the Bank of Ireland conveyancing panel as he never had to sign this form when we purchased 3 years ago (2) Does our son by signing this compromise his entitlement to inherit the property?
First, rest assured that your Bank of Ireland conveyancing panel solicitor is doing the right thing as it is established procedure for any occupier who is aged 17 or over to sign the necessary Consent Form, which is purely to state that any rights he has in the property are postponed and secondary to Bank of Ireland. This is solely used to protect Bank of Ireland if the property were re-possessed so that in such circumstances, your son would be legally obliged to leave. It does not impact your son’s right to inherit the apartment. Please note that if your son were to inherit and the mortgage in favour of Bank of Ireland had not been discharged, he would be liable to take over the loan or pay it off, but other than that, there is nothing stopping him from keeping the property in accordance with your will or the rules of intestacy.
At what point does exchange of contracts happen for domestic conveyancing in Potters Bar and am I required to be at the solicitors branch?
If you are local to one of the conveyancing solicitors in Potters Bar you are invited in to sign the paperwork. That being said, the lender approved solicitors we work with provide a countrywide conveyancing service and give just as comprehensive and professional a job for you when communicating with you by post or email. The signing of the property agreement is not the point of no return. Signing on the dotted line simply enables the conveyancer to address the formalities when the time is right, which is ordinarily shortly after signing. The exchange process is nowadays normally dealt with by telephone and can be very rapid, although where an extended "chain" is involved, since the process requires the relevant party's solicitor (not necessarily a conveyancing solicitor in Potters Bar)to be in the office available at the end of the phone to exchange contracts.
I am assisting my mother sell her house in Potters Bar. Does the solicitor order an energy assessment or should I organise this?
Following the abolition of Home Packs, energy performance certificates was kept a required element of selling a property. An EPC should be to hand in advance of the property being advertised. This is not a task that solicitors ordinarily arrange. If you are using a Potters Bar conveyancing solicitor they might be able to arrange energy assessments given their relationships with long established Potters Bar providers
Forgive me if this question is silly but I am new to the home moving as FTB of a two bedroom flat in Potters Bar. Do I pick up the keys to the property on completion from my lawyer? If so, I will appoint a High Street conveyancing solicitor in Potters Bar?
There is no need to visit the lawyers office on the day of completion. Conveyancing lawyers for you will transfer the purchase money to the owner’s conveyancers, and once they have received this, you should be able to pick up the keys from the selling Agents and move into your new home. This tends to happen between 1 and 3pm.
When it comes to mortgage companies such as Santander, do Potters Bar conveyancing practitioners incur a fee to be on the list of approved solicitors?
We are unaware of any lender fees to register on their panel, although some do levy an administration charge to deal with the processing of the conveyancing panel submission.
I've recently found out that there is a flying freehold element on a property I have offered on two weeks back in what should have been a straight forward, no chain conveyancing. Potters Bar is where the house is located. Can you offer any guidance?
Flying freeholds in Potters Bar are not the norm but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Potters Bar you would need to get your solicitor to go through the deeds very carefully. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Potters Bar 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 residence.
Do I need to be suspicious that 3rd parties that I am dealing with are encouraging me to use a national conveyancing firm rather than a High Street Potters Bar conveyancing company?
As is the case with many professional services, often referrals from connections can be worth their weight in gold. Yet there are numerous parties with a vested interest in a conveyancing deal; estate agents, financial adviser and banks might all suggest conveyancers to choose. Sometimes the conveyancers might be known to one of the organisations as one of the best in their field, but occasionally there might be a commercial relationship behind the endorsement. You are free to select your preferred lawyer. However, bear in mind that many banks specify a panel list of conveyancers you have to use for the mortgage aspect of your house move.