Having been recommended your company we were about to go ahead with a conveyancing solicitor in Ludlow listed using your search tool but have come across alternative costs illustrations via the web look cheaper – why is this?
You can find plenty of websites advertising so-called cheap conveyancing, yet more often than not extracosts end up with the closing bill mounting up beyond all recognition. Conveyancers are obliged to make sure that charges set out in terms of engagement should be fair and reasonable and be applied The solicitors that we list for conveyancing in Ludlow genuinely set out all legal fees for the property you intend tobuy.
The Ludlow conveyancing firm handling our Ludlow conveyancing has discovered an inconsistency when comparing the information in the home valuation report and what is revealed within the title deeds. My lawyer says that he is duty bound to check that the lender is happy with this discrepancy and is still content to lend. Is my conveyancer’s approach right?
Your property lawyer must comply with the UK Finance Lenders’ Handbook provisions which do require that your lawyer disclose any incorrect assumptions in the lender’s valuation report and the legal papers. Should you refuse to allow your lawyer to make the appropriate notification then your lawyer will have no choice but to discontinue acting for both parties.
We wanted to use a conveyancing solicitor in Ludlow for our home move. Our financial adviser informed us that our mortgage company National Westminster Bank won't deal with them. Surely this is unduly restrictive?
Before the recession most mortgage companies had a different appetite for risk. Almost all Ludlow conveyancing firms would have been on many mortgage company panels. The Financial Services Authority in 2010 completed a thematic investigation into mortgage fraud which concluded: know the conveyancing solicitors dealt with. Consequently, lenders are increasingly seeing more information from law firms about their operations and their employees as well as set certain criteria such a completing on a minimum volume of conveyancing. Many Ludlow conveyancing firms that have been excluded from lender panels have a 100% healthy track record, no complaints and no claims and didn't just 'dabble' in conveyancing. Ludlow is one of the hundreds of locations where the lawyers we recommend are are authorised to act for National Westminster Bank.
How does conveyancing in Ludlow differ for new build properties?
Most buyers of new build property in Ludlow approach us having been asked by the builder to exchange contracts and commit to the purchase even before the property is constructed. This is because new home sellers in Ludlow tend to purchase the site, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are accustomed to new build conveyancing in Ludlow or who has acted in the same development.
Yesterday I discovered that there is a flying freehold element on a house I put an offer in a fortnight ago in what was supposed to be a simple, no chain conveyancing. Ludlow is where the house is located. Is there any guidance you can give?
Flying freeholds in Ludlow are rare but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Ludlow you would need to get your solicitor to go through the deeds very carefully. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Ludlow may ascertain that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold premises.
We're novice buyers - had an offer accepted, yet the selling agent has warned us that the seller will only proceed if we appoint the agent's preferred conveyancers as they want a ‘quick sale’. My instinct tells me that we should use a family conveyancer accustomed to conveyancing in Ludlow
We suspect that the owner is unaware of this request. Should the vendor desire ‘a quick sale', alienating a motivated buyer is going to damage their objectives. Contact the sellers directly and make the point that (a)you are keen to buy (b)you are ready to progress, with mortgage lined up © you have nothing to sell (d) you wish to move quickly (e)but you will continue to use your own,trusted Ludlow conveyancing firm - not the ones that will give their estate agent a kickback or meet his conveyancing figures set by head office.