My husband and I are only a couple days away from an exchange on a house in Robin Hoods Bay and my parents have sent the exchange deposit to my lawyer. I am now advised that as the deposit has not come from me my lawyer needs to disclose this to my bank. Apparently, in also acting for the mortgage company he must advise them that the balance of the purchase price is not just from me. I advised the mortgage company regarding my parents' contribution when I applied for the home loan, so is it really appropriate for this now to delay the deal?
The conveyancing practitioner is legally required to clarify with mortgage company to make sure that they know that the balance of the purchase price is not from your own resources. Your solicitor can only report this to your bank if you permit them to, failing which, your lawyer must cease to continue acting.
We're in Robin Hoods Bay, First timers buying with a mortgage (lender is Bank of Ireland , and our solicitor is on the Bank of Ireland conveyancing panel). How long should the conveyancing process take?
The fact that your lawyer is on the Bank of Ireland conveyancing panel is a help. It would almost certainly delay matters if they were not. However, no conveyancer should guarantee a timeframe for your conveyancing, due to third parties outside of your control such as delays caused by lenders,conveyancing search providers or by the other side’s solicitors. The time taken is often determined by the number of parties in a chain.
We previously selected conveyancers locally in Robin Hoods Bay on the Principality solicitor approved list. They are now charging me a supplemental sum for the legal aspects of the Principality mortgage. Is this an additional conveyancing fee set by Principality?
Provided it is contained in their Terms of Engagement or Quote then yes your conveyancing practitioner may charge a fee for this. This fee is not dictated by Principality but by your Robin Hoods Bay conveyancer. Some firms on the Principality panel will charge an ‘acting for lender’ fee but some firms include it on their overall fee.
My wife and I are in the throws of looking at flats in Robin Hoods Bay and I am now considering a potential offer. Should I already have a solicitor in place at this stage? I will be getting a home loan with RBS.
You should start obtaining conveyancing estimates from solicitors ASAP. Once you decide who you want to use and once your offer is accepted you can instruct them to work for you and forward their contact information on to the estate agent. As you are seeking a mortgage with RBS, ask your prospective lawyers if they are on the RBS conveyancing panel otherwise they can't do the mortgage legal work.
Our offer on a semi in Robin Hoods Bay has been accepted, the vendors do however have a tied purchase. The sellers have offered on somewhere, however it’s not yet agreed to, and have viewings of other flats booked. I have instructed a bricks and mortar conveyancing solicitor in Robin Hoods Bay. What should be my next step? When should I get the mortgage application with Santander started?
It is understandable to have anxieties where there is a chain as you are unlikely to want to be too out of pocket too early (home loan application is approx £1k, then survey, Robin Hoods Bay conveyancing search costs, etc). The first thing to do is check that your lawyer is on the Santander approved list. As to the subsequent stages this very much depends on the specifics of your transaction, desire for the property and on the state of the market. In a hot market the majority of home buyers would apply for a home loan with Santander and arrange for the valuation and only if it comes back ok would they request their solicitor to proceed with the conveyancing in Robin Hoods Bay.
How does conveyancing in Robin Hoods Bay differ for new build properties?
Most buyers of new build or newly converted property in Robin Hoods Bay approach us having been asked by the seller to exchange contracts and commit to the purchase even before the property is finished. This is because developers in Robin Hoods Bay 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 Robin Hoods Bay or who has acted in the same development.
I was pointed in your direction by numerous estate agents in Robin Hoods Bay to locate a property lawyer using your seach tool. Is there a financial inducement for Estate Agents to recommend your services rather than another?
We refuse to offer any commission for directing people in our direction. We found it would be just too difficult a fee as members of the public would think, ‘How come the agent getting a kickback? Why am I not receiving any benefit too?’ We would prefer to grow our business on genuine recommendations.
In sourcing the world wide web for the phrase conveyancing in Robin Hoods Bay it shows results of many solicitorslocally. With so much choice what is the best way to find the suitable solicitor for the sale of my house?
The ideal method of finding the right conveyancer is via trusted referral, so seek the opinion of friends and relatives who have acquired a property in Robin Hoods Bay or the reputable estate agent or mortgage broker. Charges for conveyancing in Robin Hoods Bay vary, so it's a good idea to obtain at least three fee calculations from different property lawyers. Dont forget to clarify what costs in the quote includes.