We were about to instruct a conveyancing solicitor in Maida Hill found on your site but stumbled across some other estimates via the web seem cheaper – why is this?
You can find plenty of solicitors advertising theoretically looks to be extremely cheap conveyancing in Maida Hill. Our advice is to think twice about how much you respect your own move to you are willing to take 'cheap' risks with regard to the standard of the legal work. Some embed additional charges deep into the terms of business. The law firms that we put forward for conveyancing in Maida Hill will notdo this.
I do hope you can help me. My Maida Hill solicitor is advising me that he has toorder Maida Hill conveyancing searches stemming from the fact thatthe firm are on the Virgin Moneysolicitor panel. Is this really necessary?
You have limited options available to you. As you are obtaining a home loan with a mortgage company your lawyer has to comply with their conditions as set out in their version of the CML Conveyancing Handbook. Your property lawyer would have previously signed the Terms and Conditions of your lender’s conveyancing panel appointment which obliges them to follow the Council of Mortgage Lenders’ Handbook requirements . Even if you were a cash buyer you would be ill advised not to carry out Maida Hill conveyancing searches.
Can you clarify what the consequences are if my lawyer’s firm is suspended from the Nottingham Conveyancing panel ahead of completing my conveyancing in Maida Hill?
The first thing to point out is that, this is a very rare occurrence. In most cases even where a law firm is removed off of a panel the lender would allow the completion to go ahead as the lender would appreciate the difficulties that they would place you in if you have to instruct a new solicitor days before completion. In a worst case scenario where the lender insists that you instruct a new firm then it is possible for a very good lawyer to expedite the conveyancing albeit that you may pay a significant premium for this. The analogous situation is where a buyer instructs a lawyer, exchanges contracts and the law firm is shut down by a regulator such as the SRA. Again, in this situation you can find lawyers who can troubleshoot their way to bring the conveyancing to a satisfactory conclusion - albeit at a cost.
I am the single beneficiary of my late grandmother’s estate and I have everything in my name alone, including the house in Maida Hill. The Maida Hill property was put into my name in January. I now wish to sell up. I do know about the Mortgage Lenders 6 month 'rule', meaning my property ownership will be regarded the same way as though I had purchased the property in January. Will no one buy the property for half a year?
The CML handbook instructs solicitors to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." By the strict wording you could be caught by that. How practical a view lenders take of it, depend on the bank as this obligation is primarily there to identify subsales or the wholesaling and assigning of property.
After weeks of negotiation I have agreed a price on an apartment in Maida Hill. My mortgage broker recommended their conveyancers. I paid an upfront payment of £225. A couple of days later, the conveyancer contacted me embarrassingly acknowledging that they were not on the Virgin Money conveyancing panel. Am I right in thinking that I should be due a refund?
You should be able to recover this from the law firm if they were not on the Virgin Money panel. They should have asked at the outset which lender you were obtaining a mortgage with. An important lesson to readers of this site is to check that the lawyers are on the appropriate lender panel.
About to purchase house in Maida Hill. I have received an online quote from a licenced conveyancer, which states: "There will be no charge for dealing with the Building Society if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the UBS conveyancing panel. I wanted to make sure it means there will be no additional fees for dealing with the mortgage.
They are simply saying that the cost for acting for the lender is included in the fee being quoted. It is worth you checking that the Maida Hill conveyancer is on the UBS conveyancing panel.
Over the last few months I have been searching for a ground for flat up to £195,000 and identified one round the corner in Maida Hill I like with open areas and railway links in the vicinity, however it only has 49 years unexpired on the lease. There is not much else in Maida Hill in this price bracket, so just wondered if I would be making a grave error buying a short lease?
If you need a mortgage the shortness of the lease may be an issue. Discount the offer by the anticipated lease extension will cost if it has not already been discounted. If the current proprietor has owned the property for at least twenty four months you may ask them to commence the lease extension formalities and then assign it to you. You can add 90 years to the current lease term with a zero ground rent applied. You should consult your conveyancing solicitor concerning this matter.
I was advised by numerous estate agents in Maida Hill to locate a solicitor using your seach tool. What’s the financial incentive for Estate Agents to market your lawyers ahead of a competitor’s?
We refuse to give any referral fee for sending work in our direction. We thought it would be too underhand to pay a commission as home movers will think, ‘Why is the agent getting a kickback? Why aren’t I getting any benefit too?’ We would prefer to grow our business on genuine recommendations.