Just contacted my conveyancing lawyer in Grays who conducted the legals two years ago asking for a conveyancing quote based on an identical type of house sale & purchase (a leasehold residence and a freehold premises) of almost identical values with a mortgage from Norwich and Peterborough Building Society. It looks as though am now being charged twice the amount. Should I look for a cheaper online conveyancer?
The estimate does seem a tad overpriced. Where you are content to invest time scrutinising charges you could decrease the fees slightly by perhaps a hundred pounds. On the other hand, assuming were satisfied with the conveyancing the firm offered you mightlive to regret choosing an an unknown lawyer. If is important to check that the conveyancer can act for Norwich and Peterborough Building Society. You can utilise our search tool to get a quote a Grays conveyancing firm on the Norwich and Peterborough Building Society conveyancing panel, which can often include conveyancing solicitors in Grays.
My wife and I intend to remortgage our maisonette in Grays with Santander. We have a son approaching twenty who lives at home. Our solicitor requested us to identify any adults other than ourselves who reside at the property. The solicitor has now sent a form for our son to sign, waiving any legal rights in the event that the property is repossessed. I have two questions (1) Is this form unique to the Santander conveyancing panel as he did not need to sign this form when we purchased 3 years ago (2) In signing this form is our son in any way compromising his right to inherit the property?
First, rest assured that your Santander conveyancing panel solicitor is doing the right thing as it is established procedure for any occupier who is aged 17 or over to sign the necessary Consent Form, which is purely to state that any rights he has in the property are postponed and secondary to Santander. This is solely used to protect Santander if the property were re-possessed so that in such circumstances, your son would be legally obliged to leave. It does not impact your son’s right to inherit the apartment. Please note that if your son were to inherit and the mortgage in favour of Santander had not been discharged, he would be liable to take over the loan or pay it off, but other than that, there is nothing stopping him from keeping the property in accordance with your will or the rules of intestacy.
We wish to acquire a 1 bedroom flat in Grays with a residential mortgage from Nationwide Building Society.We have a Grays conveyancing solicitor but Nationwide Building Society says his firm is not on their approved list of member firms. We have to appoint a Nationwide Building Society panel lawyer or retain our high street solicitor and fork out for a Nationwide Building Society panel lawyer to represent them. This seems very unfair; is there anything we can do?
No, not really. The home loan offered to you contains various provisions, one of which will be that solicitors will be on the Nationwide Building Society approved list. Until recently, most banks had large numbers of law firms on their panels: a borrower could choose one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. Another option that might be available is for your solicitors to apply to be on the conveyancing panel for Nationwide Building Society
We had instructed solicitors locally in Grays on the RBS solicitor panel. They have just billed me a further charge for dealing with the RBS mortgage. Is this a supplemental conveyancing fee specified by RBS?
As unfair as it may seem, as long as it’s in their Terms and Conditions or Quote then yes your conveyancer is entitled to charge a fee for this. This fee is not set by RBS but by your Grays conveyancing practitioner. Numerous firms on the RBS panel will levy an ‘acting for lender’ fee but some firms incorporate it on their overall fee.
We have a mortgage agreed in principle with RBS. Grays conveyancing solicitors were selected. How long does it take for RBS to send the offer to the solicitor?
Some lenders take longer than others. Have RBS conducted the valuation? Have you advised RBS as to your lawyers' details and checked that your lawyers are on the RBS conveyancing panel? Sometimes it can take as long as six weeks for a mortgage offer to be issued.
The formalities of my purchase has taken place for my property in Grays. Conveyancing was of an acceptable standard but I feel I should register my dissatisfaction about the lender. How do I make a complaint?
Almost all lenders have complaints procedures. Your first point of contact should be one of the lender’s branches or the Customer Services Team at head office. Ordinarily complaints to a lender are sorted out very quickly. If you feel the matter is not resolved you can write to Financial Ombudsman Service, South Quay Plaza, 183 Marsh Wall, London E14 9SR who will take matters further.
Should my lawyer be asking questions about flooding during the conveyancing in Grays.
Flooding is a growing risk for solicitors dealing with homes in Grays. Some people will acquire a property in Grays, completely expectant that at some time, it may be flooded. However, aside from the physical damage, if a house is at risk of flooding, it may be difficult to get a mortgage, suitable building insurance, or dispose of the premises. Steps can be carried out as part of the conveyancing process to forewarn the purchaser.
Solicitors are not qualified to impart advice on flood risk, but there are a various searches that may be initiated by the purchaser or on a buyer’s behalf which can give them a better appreciation of the risks in Grays. The conventional set of property information forms given to a purchaser’s solicitor (where the Conveyancing Protocol is adopted) incorporates a usual inquiry of the seller to determine if the premises has ever been flooded. If the premises has been flooded in past and is not revealed by the seller, then a purchaser could issue a legal claim for losses as a result of such an misleading response. A purchaser’s lawyers should also conduct an environmental report. This will disclose if there is a recorded flood risk. If so, more detailed inquiries should be made.
I decided to have a survey completed on a property in Grays before retaining lawyers. I have been informed that there is a flying freehold aspect to the house. My surveyor advised that some banks will refuse to grant a mortgage on a flying freehold premises.
It varies from the lender to lender. Santander has different instructions from Nationwide. If you call us we can look into this further via the relevant mortgage company. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Grays. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Grays to see if the conveyancing costs will increase in light of this.