Me and my wife are purchasing our first home. Our solicitor has e-mailedto ask if we want to order extra conveyancing searches. As novices we are clueless as to what's necessary for conveyancing in Drakes Cross
The extent of Drakes Cross conveyancing searches depends primarily on the premises, the location, the possibility of any of these risks, your knowledge of the locality and risks, your general appetite to risk. What is important is that you properly comprehend what information the searches could give you. Then you can decide if you consider that you need that information. If in doubt, ask the lawyer to explain.
Do lawyers request money up-front for my conveyancing in Drakes Cross?
If you are buying a property in Drakes Cross your solicitor will ask you to provide them with monies to cover the search fees. Ordinarily this is asked for to cover the fees of the conveyancing searches. If any down payment is payable against the purchase price then this will be required shortly prior to exchange of contracts. Any further balance that is due should be sent to your lawyer a couple of days prior to the completion date.
When it comes to lenders such as Skipton, do Drakes Cross solicitors face an annual charge to be on the list of approved solicitors?
We are not aware of any mortgage company fees to be on their list of approved firms, although some do charge an administration fee to deal with the processing of the conveyancing panel application.
We were going to get a AIP from Yorkshire BS this week so we can work out what to offer on a property we like as otherwise we are dependent on web based calculators (which aren't taking into account credit checks etc). Do Yorkshire BS recommend any Drakes Cross solicitors on the Yorkshire BS conveyancing panel, or is it better to go independently?
You will need to appoint Drakes Cross solicitors independently although you'll need to choose one on the Yorkshire BS conveyancing panel. The solicitor represents both you and Yorkshire BS through the process.
My husband and I are spending time looking at apartments in Drakes Cross and I am about to put in an offer. Is it advisable to have a property lawyer on ‘stand by’? I intend to finance via a mortgage with Lloyds.
You should start obtaining conveyancing estimates from solicitors ASAP. After you have chosen your lawyer and once your offer is accepted you can instruct them to work for you and pass their contact information on to the EA. Given that you are taking out a mortgage with Lloyds, make sure you remember to check that your lawyer is on the Lloyds conveyancing panel.
Are there restrictive covenants that are commonly picked up during conveyancing in Drakes Cross?
Covenants that are restrictive in nature can be picked up when reviewing land registry title as part of the process of conveyancing in Drakes Cross. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
I opted to have a survey carried out on a property in Drakes Cross prior to retaining conveyancers. I have been told that there is a flying freehold overhang to the house. My surveyor advised that some banks may not give a loan on this type of property.
It depends who your proposed lender is. Lloyds has different instructions for example to Birmingham Midshires. If you e-mail us we can check via the relevant mortgage company. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Drakes Cross. Conveyancing will be smoother if you use a solicitor in Drakes Cross especially if they are accustomed to such properties in Drakes Cross.
I have been pointed in your direction by three or four local estate agents in Drakes Cross to find a solicitor on your site. Is there a financial upside for Estate Agents to promote your lawyers over a competitor’s?
We refuse to make any financial incentive for directing people in our direction. We found it would be just too difficult to pay a commission as a client could think, ‘Why is the agent getting a kickback? Why am I not getting any benefit too?’ We would prefer to grow our business on genuine recommendations.