I opted for a high street firm for our conveyancing in Ramsey yesterday. After carefully reading the terms of engagement I notewe are liable for costs even if the dealdoes not happen. Would I be best advised to appoint an on-line solicitor practice offering no-sale-no-fee conveyancing in Ramsey?
It is usually ‘give and take’ in that if "No Sale No Fee" is available then the fee levels will generally be higher to offset the transactions that do not proceed. Dont forget that these promotions rarely cover outlay such as Ramsey conveyancing search costs.
I am only a couple days away from an exchange on a flat in Ramsey and my mum and dad have transferred the ten percent deposit to my lawyer. I am now told that as the deposit has not come from me my property lawyer needs to disclose this to my mortgage company. I am advised that, in also acting for the lender he must advise them that the balance of the purchase price is not just from me. I informed the bank regarding my parents' contribution when I applied for the home loan, so is it really necessary for this now to be an issue?
The lawyer is duty bound to check with mortgage company to make sure that they understand that the balance of the purchase price is not from your own funds. The solicitor can only notify this to your mortgage company if you permit them to, failing which, your lawyer must cease to continue acting.
We note that you have a search directory listing law firms on the HSBC conveyancing panel. Do firms pay you a commission if I instruct them for our own conveyancing in Ramsey?
We are a listing service only for law firms wishing to communicate if they are on the HSBC conveyancing panel or other lender panels. We do not charge referral fees to any conveyancer that you subsequently appoint for your conveyancing in Ramsey.
I am aiming to move property in April. Should my conveyancing solicitor communicate with the removal company on the day of completion. On a separate note, can you suggest a removal company in Ramsey. Conveyancing lawyer was organised prior to coming across your page.
On the afternoon of completion you will need to pick up the keys from your estate agent but this should only happen when the vendors conveyancers confirm to the agent that they acknowledge receipt of the completion payment and the keys can be released. You can inform the removal company that they can start moving you in. As a matter of policy we do not suggest a specific removal company but can help you locate a residential property solicitor in Ramsey or a lawyer with expertise in conveyancing in Ramsey.
About to purchase apartment in Ramsey. I have received an online quote from a licenced conveyancer, which states: "There will be no charge for dealing with the Building Society if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the Leeds Building Society conveyancing panel. I wanted to make sure it means there will be no additional fees for dealing with the mortgage.
They are simply saying that the cost for acting for the lender is included in the fee being quoted. It is worth you checking that the Ramsey property lawyer is on the Leeds Building Society conveyancing panel.
Bank of Ireland have agreed my home loan in principle, my bid on a flat in Ramsey has been accepted, now what?
The estate agent will need to be informed of your lawyer's details (ensure that the property lawyers are on the bank’s approved list). Call up Bank of Ireland or your broker and finalise any outstanding documentation. Bank of Ireland will instruct a valuer who will get in contact with the estate agent or seller to schedule an appointment. Once conducted (assuming no problems) it takes about a fortnight for the mortgage offer to be issued. Bank of Ireland will issue the offer to you and your conveyancers. The transaction will then take it’s course according the nature and complexity of the conveyancing in Ramsey.
Will our lawyer be raising questions regarding flooding as part of the conveyancing in Ramsey.
Flooding is a growing risk for lawyers dealing with homes in Ramsey. Some people will purchase a property in Ramsey, fully expectant that at some time, it may suffer from flooding. However, aside from the physical destruction, if a house is at risk of flooding, it may be difficult to obtain a mortgage, suitable building insurance, or dispose of the premises. Steps can be carried out during the course of a house purchase to forewarn the purchaser.
Lawyers are not best placed to give advice on flood risk, but there are a numerous searches that can be undertaken by the purchaser or on a buyer’s behalf which will give them a better appreciation of the risks in Ramsey. The conventional set of property information forms given to a buyer’s solicitor (where the Conveyancing Protocol is adopted) incorporates a standard inquiry of the owner to discover if the property has suffered from flooding. In the event that the premises has been flooded in past and is not revealed by the vendor, then a purchaser may commence a compensation claim stemming from an incorrect response. A purchaser’s conveyancers should also commission an enviro report. This should reveal if there is a recorded flood risk. If so, additional inquiries should be conducted.
I have miscalculated my finances and am a few grand short a 10% deposit on my apartment purchase in Ramsey , but I am anxious exchange. Do I have options?
You can agree a lesser deposit. Many property owners will accept a smaller deposit or even no deposit for a first time buyer or 100% mortgage. Be aware though that if you fail to complete you will still need to hand over a minimum of 10% of the purchase price regardless of how much deposit was agreed.
You can also agree a simultaneous exchange and completion as no deposit is required for this however neither party will be tied in until completion actually takes place and it can be risky if sellers change their mind at the last moment