I selected a high street firm for my conveyancing in Tenby today. Going through the Ts and Cs I notewe are responsible for fees even if the dealdoes not happen. Should I go with them or use an internet lawyer offering no move no charge conveyancing in Tenby?
It is usually a trade off in that if "No Sale No Fee" is advertised then the fee levels will tend to be be higher to cover those transactions that do not go ahead. You should be mindful that such promotions generally do not protect you from outlay by way of example Tenby conveyancing search costs.
We are only a couple days away from an exchange on a house in Tenby and my mum and dad have transferred the ten percent deposit to my lawyer. I am now advised that as the deposit has been received from someone other than me my solicitor needs to make a notification to my bank. I am advised that, in also acting for the mortgage company he must advise them that the balance of the purchase price is not just from me. I informed the mortgage company concerning my parents' contribution when I applied for the home loan, so is it really appropriate for him to raise this?
The conveyancing practitioner is obliged to clarify with the bank to ensure that they understand that the balance of the purchase price is not from your own resources. Your solicitor can only disclose this to your mortgage company if you agree, failing which, your lawyer must cease to continue acting.
We note that you have a search directory identifying law firms on the Bank of Ireland conveyancing panel. Do companies pay you a referral fee if I appoint them for our conveyancing in Tenby?
We are a listing service only for law firms wishing to communicate if they are on the Bank of Ireland conveyancing panel or other lender panels. We do not charge referral fees to any conveyancer that you subsequently appoint for your conveyancing in Tenby.
I had intended to instruct a conveyancing solicitor in Tenby for our house move. Our broker informed us that our bank TSB won't deal with them. Why is this not regarded as unduly restrictive?
Lenders in the main imposes restrictions either the category or the amount of conveyancing practices on their approved list of lawyers. A common example of such restriction(s) being that a firm must have two or more partners. As well as restricting the profile of firm, a few lenders have limited the amount of solicitor practices they allow to represent them. Be aware that TSB have no responsibility for the quality of advice provided by any member of TSB Conveyancer Panel. Mortgage fraud was a key driver in the reduction of solicitor panels since 2008 even though there are mixed views concerning the extent of solicitor involvement in some of that fraud. Figures from the Land Registry reveal that hundreds of law firms, including some in or near Tenby only execute a couple conveyances per annum.
I have been advised by numerous selling agents in Tenby to choose a conveyancer using your seach tool. What’s the financial inducement for Estate Agents to promote your site rather than another?
We refuse to give any financial incentive for sending work our way. We thought it would be too underhand a fee as members of the public would think, ‘Why is the agent getting a kickback? Why am I not receiving any benefit too?’ We would prefer to grow our business on genuine recommendations.
I own a leasehold flat in Tenby. Conveyancing was finalised in five years ago. I have been told that I should not let the the remaining lease term to fall too short. Is this correct?
Tenby leasehold properties are for a fixed term - often ninety nine years when they commenced. However a significant appartments in Tenby were built or converted 25 or more years ago and so such leases now have fewer than 80 years unexpired. This may sound like plenty of time but Banks, Building Societies and other mortgage lenders on the whole need leases to have a minimum of 75 years left to be mortgageable. Accordingly when you come to sell the property you will need a lease extension if you are approaching 75 years. To optimize the marketability of your property you should be considering whether or not to extend your lease well in advance of selling the property. You should note that there are advantages to taking action before the lease reaches even 80 years as when the lease is below eighty years the amount to be paid to extend starts to increase.