Just contacted my conveyancing solicitor in Waterbeach who acted for me two years ago and wanted a conveyancing costs illustration based on an identical type of house sale & purchase (a leasehold residence and a freehold property) of almost identical values with a mortgage from Barclays . I am now being charged twice the amount. Should I hunt for an alternative conveyancer?
The estimate does seem a tad steep. If you you were to look around you could reduce the fees marginally by say £100 plus VAT. On the other hand, assuming were pleased with the service the firm gave you couldcome to regret choosing an a cheaper lawyer. Remember to be sure the conveyancer can act for Barclays . Do utilise our search tool to select a Waterbeach conveyancing firm on the Barclays member panel, which can often include conveyancing solicitors in Waterbeach.
The Waterbeach conveyancing firm handling our Waterbeach conveyancing has spotted a difference between the assumptions in the valuation report and what is in the title deeds. My lawyer informs me that he must check that the lender is happy with this discrepancy and is content to go ahead. Is my solicitor’s approach legitimate?
Your conveyancing practitioner must comply with the UK Finance Lenders’ Handbook specifications which do require that your lawyer disclose any incorrect assumptions in the lender’s valuation report and the legal papers. Should you refuse to allow your lawyer to make the appropriate notification then your lawyer will have no choice but to discontinue acting for you.
We're in Waterbeach, First timers purchasing with a mortgage (lender is Principality , and our solicitor is on the Principality conveyancing panel). How long should the conveyancing process take?
The fact that your lawyer is on the Principality conveyancing panel is a help. It would almost certainly delay matters if they were not. However, no property lawyer 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.
I have been told that property searches are the primary reason for hinderance in Waterbeach conveyancing transactions. Is there any truth in this?
The Council of Property Search Organisations (CoPSO) released findings of research by MoveWithUs that conveyancing searches do not feature within the top 10 causes of delays during the legal transfer of property. Local searches are not likely to feature in any holding up conveyancing in Waterbeach.
3 months have gone by since my purchase conveyancing in Waterbeach completed. I have checked the Land Registry site which shows that I paid £200,000 when infact I paid £215,000. 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 residence 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.
Due to the input of my in-laws I had a survey completed on a property in Waterbeach before retaining solicitors. I have been advised that there is a flying freehold element to the property. The surveyor advised that some mortgage companies may not give a mortgage on a flying freehold house.
It varies from the lender to lender. HSBC has different requirements from Birmingham Midshires. If you contact us we can check via the appropriate mortgage company. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Waterbeach. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Waterbeach to see if the conveyancing will be more expensive.