We instructed a local solicitor for my conveyancing in Ely today. Reviewing the official terms of business I seeI am liable for costs even if the dealdoes not proceed. Should I ditch them and choose a web based solicitor practice promising no-sale-no-fee conveyancing in Ely?
Generally there is a concession along the lines that if "No Completion No Fee" is offered then the conveyancing charges will tend to be be uplifted to neutralise those transactions that fail to complete. Do bear in mind that these offerings tend not to cover expenses for instance Ely conveyancing search costs.
Our conveyancer has uncovered a a legal deficiency with the lease for the property we are buying in Ely. The other side have put forward defective title insurance as a workaround. We are happy with insurance and will cover the costs. Our conveyancing practitioner has advised that he must check that the bank is willing to move forward with this solution. Who is the client here, us or the mortgage company ?
The short answer to your last question is that, notwithstanding the potential for a conflict of interest, you and the mortgage company are the client. Your property lawyer must comply with the UK Finance Lenders’ Handbook conditions. The UK Finance Lenders’ Handbook conditions require your lawyer to disclose issues such as defects with the lease so that the mortgage company can be afforded the opportunity to check with their valuer as to the extent that the value of the property is affected. Should you refuse to allow your lawyer to make the appropriate notification then your conveyancing practitioner will have no choice but to discontinue acting for you.
This question may be naive but I am new to the process as a 1st time purchaser of a two bedroom flat in Ely. Do I pick up the keys to the property on completion from my lawyer? If this is the case, I will appoint a local conveyancing solicitor in Ely?
There is no need to visit the lawyers office on the day of completion. Conveyancing lawyers for you will transfer the completion advance to the seller's lawyers, and once they have received this, you should be called to collect the keys from the property Agents and start moving into the property. Usually this occurs between 1 and 3pm.
Does a directory service exist listing RBS panel solicitors in Ely on the Council of Mortgage Lender’s Website?
Unfortunately not yet. There is no such facility on the CML or Building Society Association sites. Very few lending institutions make their panel listings available online. If you are looking for a Ely conveyancer on the RBS please use our facility.
We expect to receive a DIP from UBS this week so we know how much we could potentially offer as otherwise we only have online calculators to go by (which aren't taking into account credit checks etc). Do UBS recommend any Ely solicitors on the UBS conveyancing panel, or is it better to go independently?
You will need to appoint Ely solicitors independently although you'll need to choose one on the UBS conveyancing panel. The solicitor represents both you and UBS through the process.
Are there restrictive covenants that are commonly picked up during conveyancing in Ely?
Restrictive covenants can be picked up when reviewing land registry title as part of the legal transfer of property in Ely. 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'm remortgaging my existing house to a BTL mortgage with Coventry Building Society and I will use the ballance of the raised equity towards a second house. The location we are interested in is Ely. Will your solicitors be able to act for the two banks and tie in the transactions?
Do use our search tool on this page to be sure that the solicitors are on the relevant lender panels. Having checked that they are the lawyer will be able to connect the two conveyancing matters but you should talk with you solicitor and specify your desired outcome and needs.
In my capacity as executor for the estate of my grandfather I am selling a property in Cardiff but I am based in Ely. My lawyer (who is 260 miles awayrequires that I sign a stat dec prior to the transaction finalising. Can you recommend a conveyancing practitioner in Ely to witness and place their company stamp on the document?
Technically speaking you should not need to have the documents witnessed by a conveyancing solicitor. Normally or notary public or solicitor will do regardless of whether they are Ely based