I was recommended to a conveyancer who has quoted £1700 for leasehold conveyancing in Hagley. I am looking to sell a Victorian property for £225,000. Is this expensive? Is it in excess of what I should be paying for conveyancing in Hagley?
The charges are a tad high. Where you are happy to spend time comparing fee on a like for like basis you may be able to decrease the fees slightly by say £100 plus VAT. On the other hand, you maycome to rue opting for an a cheaper solicitor. Don't forget to enquire that the firm can represent your lender. Do utilise our comparison tool to locate a Hagley conveyancing company on the banks approved list of lawyers which can often include conveyancing solicitors in Hagley.
In what way does my ID and proof of funds have anything to do with my conveyancing in Hagley? Is this really warranted?
In order to comply with Money Laundering Regulations any Hagley conveyancing firm will require evidence of your identity in all conveyancing matters. This is normally satisfied by provision of a passport and an original bank statement or utility bill evidencing your correct address.
Under Money Laundering Regulations, conveyancers are obliged by law to validate not simply the identity of conveyancing clients but also the source of the money that they receive in respect of any matter. Refusal to disclose this may result in your conveyancer cancelling their retainer with you, as clearly this will cause a conflict between the set Regulations and a refusal to disclose.
Your conveyancers are duty bound to notify the appropriate authorities should they consider that any amounts received by them may contravene the Money Laundering Regulations.
We previously selected conveyancers with offices in Hagley on the HSBC solicitor approved list. They have just billed me an additional charge for the legal aspects of the HSBC mortgage. Is this a supplemental conveyancing fee specified by HSBC?
As unfair as it may appear, as long as it’s in their Terms of Engagement or Quote then yes your property lawyer is entitled to charge a fee for this. This fee is not set by HSBC but by your Hagley lawyer. Plenty of firms on the HSBC panel will levy an ‘acting for lender’ fee and others do not.
How can we tell if a Hagley conveyancing solicitor on the Nottingham panel is any good?
When it comes to conveyancing in Hagley getting recommendations is a good starting point. Before you go ahead, check if they offer a no sale no fee offer. Also, you often get what you pay for - a firm which quotes more, will often provide a better service than one which is cheap as chips. We would always recommend that you speak with the lawyer handling your transaction.
Coventry BS have agreed my home loan in principle, my offer on a apartment in Hagley has been accepted, what happens next?
The estate agent will need to know who your solicitors are (ensure that the conveyancers are on the bank’s panel). Contact Coventry BS or your financial adviser and finish off any relevant paperwork. Coventry BS will appoint a valuer who will get in touch with the selling agent or owners to schedule a slot for the valuation to happen. Once carried out (assuming no problems) it takes about ten days for the mortgage offer to be issued. Coventry BS will issue the offer to you and your property lawyers. The transaction will then take it’s course according the nature and complexity of the conveyancing in Hagley.
My wife and I purchased a renovated Victorian house in Hagley. Conveyancing solicitor represented me and Clydesdale. I happened to do a free search for it on the Land Registry database and I saw a couple of entries: the first freehold, another for leasehold under the exact same property. Is it worth asking Clydesdale to clarify?
You need to read the Freehold register you have again and check the Charges Register for mention of a lease. The best way to be sure that you are also the registered proprietor of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Hagley and other areas of the country and poses no real issues for owners other than when they mortgage they have to account for both freehold and leasehold interests when dealing with purchasers. You can also question the situation with your conveyancing solicitor who completed the work.
What does commercial conveyancing in Hagley cover?
Hagley conveyancing for business premises incorporates a broad array of guidance, supplied by qualified solicitors, relating to business premises. By way of example, this type of conveyancing can cover the sale or purchase of freehold business premises or, more usually, the transfer of existing business tenancies or the drafting of new leasing arrangements. Commercial conveyancing solicitors can also offer advice on the sale of business assets, commercial loans and the termination of tenancies.
Our conveyancer in Hagley has identified a defect with the lease for the apartment we are purchasing in Hagley. The seller’s lawyers have offered defective title insurance as a workaround. We are content with insurance and will pay for it. Our solicitor has advised that as he is on the lender conveyancing panel he must be satisfied that the lender is happy with this solution. Who is the client here, us or the lender?
The short answer to your last question is that, notwithstanding the potential for a conflict of interest, you and the bank are the client. A precondition to being on the lender approved panel is to comply with the UK Finance Lenders’ Handbook requirements. The UK Finance Lenders’ Handbook conditions require your lawyer to disclose issues such as defects will 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 lawyer will have no choice but to discontinue acting for you.