Just contacted my conveyancing lawyer in Manningtree who completed the legal work two years ago and wanted a conveyancing costs illustration based on the same type of house sale & purchase (a leasehold residence and a freehold premises) of almost identical values with a mortgage from Barclays Direct. I am now being quoted double. Am I right to be tempted to shop around for a cheaper online firm of conveyancing solicitor?
The costs illustration is slightly on the expensive side. If you are prepared to invest time scrutinising costs you may be able to get the conveyancing a bit cheaper by as much as £125. On the other hand, providing that you were content with the legal work the firm gave you mightlive to rue opting for an an untested solicitor. Don't forget to be sure the solicitor can act for Barclays Direct. Do make use of our search tool to locate a Manningtree conveyancing firm on the Barclays Direct conveyancing panel, which can often include conveyancing solicitors in Manningtree.
What does my ID and proof of funds have anything to do with my conveyancing in Manningtree? What am I being asked for?
To satisfy the Money Laundering Regulations any Manningtree conveyancing firm will require proof of identity in all conveyancing transactions. This is normally dealt with by provision of a passport and an original bank statement or utility account showing where you reside.
Under Money Laundering Regulations, conveyancing solicitors are duty bound to investigate not simply the ID of conveyancing clients but also the source of fund that they receive in respect of any matter. Refusal to disclose this may result in your lawyer ending their retainer with you, as clearly this will cause a conflict between the set Regulations and a refusal to disclose.
Your property lawyers will have an obligation to make a disclosure to the appropriate authorities should they consider that any monies received by them may contravene the Money Laundering Regulations.
It has been three months following my purchase conveyancing in Manningtree concluded. I have checked the Land Registry site which shows that I paid £150,000 when infact I paid £180,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the asset from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
How does conveyancing in Manningtree differ for new build properties?
Most buyers of new build or newly converted property in Manningtree come to us having been asked by the housebuilder to sign contracts and commit to the purchase even before the house is ready to move into. This is because house builders in Manningtree typically acquire 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 property lawyers 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 used to new build conveyancing in Manningtree or who has acted in the same development.
I opted to have a survey completed on a property in Manningtree ahead of appointing lawyers. I have been advised that there is a flying freehold overhang to the property. The surveyor has said that some mortgage companies tend refuse to give a mortgage on a flying freehold property.
It varies from the lender to lender. HSBC has different requirements from Birmingham Midshires. Should you wish to call us we can check with the relevant mortgage company. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Manningtree. Conveyancing will be smoother if you use a solicitor in Manningtree especially if they are accustomed to such properties in Manningtree.
Am I best advised to instruct a Manningtree conveyancing lawyer who is local to the property I am hoping to buy? I have an old university friend who can carry out the legal work however her office is a couple of hundredkilometers away.
The benefit of a high street Manningtree conveyancing practice is that you can drop in to execute paperwork, present your ID and pester them if necessary. Having local Manningtree know how is a benefit. That being said it's more important to get someone that will do a good and efficient job. If if people you trust used your friend and on the whole were happy that should surpass using an unknown Manningtree conveyancing solicitor solely due to them being Manningtree based.