I was recommended to a conveyancer who has given a fee calculation of £1350 for freehold conveyancing in Barnstaple. I am looking to sell a Georgian house for £275,000. Are the quoted fees excessive? Is it in excess of the norm for conveyancing in Barnstaple?
The charges are a bit high. If you shop around you could trim some of the cost by perhaps £125. On the other hand, you couldlive to regret opting for an an unknown lawyer. Remember to ensure that the conveyancer can act for your bank. Do use our search tool to find a Barnstaple conveyancing company on the lender’s member panel which can often include conveyancing solicitors in Barnstaple.
Our conveyancer has discovered a a problem with the lease for the apartment we are buying in Barnstaple. The seller’s lawyers have put forward defective title insurance as a solution. We are content with insurance and will pay for it. Our conveyancing practitioner says that he must be satisfied that the bank is content with this solution. Who is the client here, us or the bank?
Regardless of the fact that you have a mortgage offer from the lender does not mean to say that the property will meet their specifications for the purposes of a mortgage. Your lawyer has to ensure that the lease has to comply with the UK Finance Lenders’ Handbook provisions. You and the bank are the client. The appropriate lender requirements must be adhered to.
My flat in Barnstaple is up for sale and I have a buyer. Does my property lawyer need to be required to be on the Coventry BS conveyancing panel in order to deal with redeeming my mortgage?
Ordinarily, even if your lawyer is not on the Coventry BS conveyancing panel they can still act for you on your sale. It might be that the lender will not release the original deeds (if applicable and increasingly irrelevant) until after the mortgage is paid off. You should speak to your lawyer directly before you start the process though to ensure that there is no problem as lenders are changing their specifications fairly frequently currently.
I am buying a new build flat in Barnstaple. Conveyancing is a frightening process at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build legal work.
Set out below is a sample of a few leasehold new build questions that you may expect your new-build leasehold conveyancing in Barnstaple
-
Where there is an Undertaking being granted there is the risk of forfeiture of the Headlease subject to relief if one or more of the Underlessees are willing to accept the original Head Lessee’s obligations as otherwise relief will be denied to the Underlessees. The only alternatives are the Head Lessor agreeing not to forfeit the Headlease or the Head Lessee guaranteeing to the Underlessees that it will not be in breach of the Headlease. Will control of the Management Company (if any) be handed over to purchasers on completion of the last sale or earlier? Has the Lease plan been approved by the Land Registry and if not when will they be lodged for this purpose? The Lease must contain a provision on behalf of the Vendor to pay the service charges in respect of unoccupied units in order to ensure that all services can be provided. Will the freehold then be transferred for a nominal consideration (not exceeding £100) to the Management Company?
As co-executor for the will of my father I am selling a residence in Newport but live in Barnstaple. My conveyancer (based 250 miles awayneeds me to sign a stat dec prior to completion. Could you suggest a conveyancing practitioner in Barnstaple to witness and place their company stamp on the document?
strictly speaking you should not be required to have the documents attested by a conveyancing solicitor. Ordinarily any notary public or qualified solicitor will suffice regardless of whether they are based in Barnstaple
I am just shy of a 10% deposit on my house purchase in Barnstaple , but I still want to go ahead. What can I do?
You can accept a smaller deposit. Most vendors 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 minute