Recently contacted my conveyancing solicitor in Ludlow who acted for me two years ago asking for a conveyancing estimate based on an identical type of house sale & purchase (a leasehold premises and a freehold property) of almost identical values with a mortgage from Coventry Building Society. It looks as though am now being quoted double. Stick with what I know or should I try and find an alternative firm of conveyancing solicitor?
The quote is slightly on the steep side. If you shop around you could shave off some of the expense by perhaps £100 plus VAT. That being said, if you were satisfied with the service the firm provided you mightlive to regret opting for an a cheaper conveyancer. If is important to enquire the firm can represent Coventry Building Society. Do employ our search tool to choose a Ludlow conveyancing firm on the Coventry Building Society approved list of lawyers, which can often include conveyancing solicitors in Ludlow.
My son-in-law is about to exchange on a house that has just been built in Ludlow with a mortgage from Santander. His solicitor has advised him of a delay in completing the ‘Disclosure of Incentive Form’. Who needs to receive the form?
The form is intended to provide information to the main parties engaged in the transaction. Therefore, it will be provided to your son’s lawyer who should be on the Santander conveyancing panel as a standard part of the process, and to the surveyor when requested. The developer will be required to start the process by downloading the form and completing it. The form will therefore need to be available for the valuer at the time of his or her site visit. The form should be sent to the Santander conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.
Why do I have to pay up front when it comes to conveyancing in Ludlow?
Where you are retaining lawyers for conveyancing in Ludlow your lawyer will ask you to provide them with funds to cover the search fees. This will be the total of the cost of the conveyancing searches. If any down payment is as part of the purchase price then this will be required shortly ahead of exchange of contracts. The final balance that is due should be transferred a few days prior to the day of completion.
My lawyer has informed me that absentee landlord insurance is needed on my purchase. What is the typical level of cover needed for conveyancing in Ludlow?
The right level of absentee landlord indemnity insurance depends on who your lender is. It would differ for example between Birmingham Midshires and Leeds Building Society. Conveyancing practitioners as opposed to borrowers take out such insurances.
I am currently in the process of buying my council flat in Ludlow. I have a mortgage agreed with RBS. Conveyancing is new to me. Can I proceed without a solicitor easily? I think we can but we keep being told I should have one. Any advice?
It is not advisable to proceed with a house purchase without a solicitor. The council's solicitor are not acting for you. You need a solicitor for a number reasons. One of which is to verify what plans the Council have for repairs and refurbishment for the next five years. Many leaseholders have been stung for contributions of thousands of pounds. In any event, if you are getting a mortgage with RBS, you will need to appoint a solicitor on the RBS conveyancing panel.
At last I have had an offer on an apartment in Ludlow accepted, the owners do however have an associated purchase. The vendors have offered on a flat, but it’s not yet tied up, and have viewings of other apartments in the pipeline. I have chosen a bricks and mortar conveyancing solicitor in Ludlow. What do I do now? At what stage do I apply for the mortgage with Yorkshire BS?
It is usual to have apprehensions where there is a chain as you are unlikely to want to incur expenses prematurely (home loan application is approx £1k, then valuation, Ludlow conveyancing search fees, etc). The first course of action is to check that your conveyancer is on the Yorkshire BS approved list. As to the subsequent stages this very much depends on the circumstances of your case, motivation for this property and on the state of the market. During a rising market some buyers will apply for the mortgage with Yorkshire BS and pay for the valuation and only if it comes back ok would they pay their conveyancer to press on with searches.
I have been on the look out for a leasehold apartment up to £235,500 and found one close by in Ludlow I like with a park and transport links in the vicinity, the downside is that it's only got 51 years on the lease. I can't really find anything else in Ludlow suitable, so just wondered if I would be making a grave error buying a short lease?
Should you need a mortgage that many years will likely be a potential deal breaker. Reduce the offer by the expected lease extension will cost if not already taken into account. If the current owner has owned the premises for a minimum of 2 years you can request that they commence the lease extension formalities and then assign it to you. An additional ninety years can be extended on to the current lease and have £0 ground rent by law. You should consult your conveyancing lawyer about this.
My step-father has recommend that I instruct his conveyancers in Ludlow. Should I choose my own property lawyer?
There are no two ways about it the best way to choose a conveyancing solicitor is to seek guidance from friends or relatives who have used the conveyancer that you are contemplating using.