Do lawyers ask for an advanced payment when it comes to conveyancing in Prestatyn?
Where you are retaining lawyers for conveyancing in Prestatyn your solicitor will request that you to provide them with funds to cover the search fees. Generally this is requested to cover the fees of the conveyancing searches. If any down payment is payable against the sale price then this should be required immediately prior to contracts are exchanged. The final balance that is needed will be payable a couple of days prior to the completion date.
My brother-in-law has suggested I instruct a conveyancing solicitor in Prestatyn. I I am struggling to find out if they are accepted on the Accord Mortgages Ltd conveyancing panel. Could you advise?
You should e-mail the lawyer and enquire if they are on the lender panel. Alternatively please call Accord Mortgages Ltd who may be able to confirm.
It has been three months following my purchase conveyancing in Prestatyn completed. I have checked the Land Registry site which shows that I paid £200,000 when infact I paid £170,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the asset from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
How does conveyancing in Prestatyn differ for newly converted properties?
Most buyers of new build premises in Prestatyn approach us having been asked by the seller to sign contracts and commit to the purchase even before the house is ready to move into. This is because developers in Prestatyn tend to acquire the land, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancing solicitors as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are accustomed to new build conveyancing in Prestatyn or who has acted in the same development.
I have been advised by a number of property agents in Prestatyn to find a property lawyer on your site. What’s the financial incentive for Estate Agents to offer your services rather than alternative conveyancing organisations?
We don’t offer any financial incentive for directing people our way. We thought it would be too underhand a fee as a client could think, ‘How come the agent getting a kickback? Why am I not receiving any benefit too?’ So we decided to step away from that.
We have AIP from Platform Home Loans Ltd who suggested that they will lend up to £117k. At what point do I need to instruct a practitioner for conveyancing? Prestatyn is where we are buying.
It would be wise to appoint a property lawyer now so that the property lawyer can open the file so they can commence the AML checks etc. As and when you wish them to start work they will seek a payment on account normally approximately £200. That would normally be after you have the loan offer from the bank and survey back, but if you wish to speed the process you can start the ball rolling quicker even though you may be risking some expense.