My friend's brother is a conveyancing practitioner. I am hopeful that I can be offered mate’s rates for conveyancing, However if that does not come through, what level of fees should I be paying for conveyancing in Marylebone?
Do contrast pricing. Do use our comparison tool on this page. You will notice that amounts seem to contrast greatly but the service one can expect differ between solicitors as is true with the vast majority of professional services.
My fiance and I are refinancing our penthouse in Marylebone with Leeds Building Society. We have a son approaching twenty who lives with us. Our solicitor requested us to identify anyone over the age of 17 other than ourselves who reside at the property. Our lawyer has now e-mailed a document for our son to sign, waiving any legal rights in the event that the apartment is repossessed. I have a couple of concerns (1) Is this form unique to the Leeds Building Society conveyancing panel as he never had to sign this form when we purchased 3 years ago (2) Does our son by signing this giving up his rights to inherit the property?
On the face of it your lawyer has done nothing wrong as it is established procedure for any occupier who is aged 17 or over to sign the necessary Consent Form, which is purely to state that any rights he has in the property are postponed and secondary to Leeds Building Society. This is solely used to protect Leeds Building Society if the property were re-possessed so that in such circumstances, your son would be legally obliged to leave. It does not impact your son’s right to inherit the apartment. Please note that if your son were to inherit and the mortgage in favour of Leeds Building Society had not been discharged, he would be liable to take over the loan or pay it off, but other than that, there is nothing stopping him from keeping the property in accordance with your will or the rules of intestacy.
We wanted to use a conveyancing solicitor in Marylebone for our home move. Our financial adviser has since advised us that our mortgage lenders The Royal Bank of Scotland won't deal with them. Surely this is unduly restrictive?
A decade ago most banks had a different appetite for risk. Almost all Marylebone conveyancing firms would have been on many bank panels. The FSA in 2010 conducted a thematic investigation into mortgage fraud which come to the conclusion: mortgage lenders should know the conveyancing solicitors dealt with. Consequently, lenders are increasingly seeing more information from law firms regarding their operations and the individuals who work for them and establishing certain criteria such a completing on a minimum volume of transactions. Many Marylebone conveyancing firms that have been excluded from lender panels have Unblemished track record, no complaints and no claims and didn't just 'dabble' in conveyancing. Marylebone is one of the thousands of areas where the solicitors we list are members of the panel for The Royal Bank of Scotland.
Do I need to take out insurance to cover chancel repairs when acquiring a house in Marylebone?
Unless a previous acquisition of the premises completed post 12 October 2013 you could expect lawyers handling conveyancing in Marylebone to continue to recommend a chancel search and or chancel repair liability insurance.
I opted to have a survey done on a house in Marylebone ahead of retaining lawyers. I have been advised that there is a flying freehold element to the house. Our surveyor advised that some lenders may refuse to give a mortgage on this type of house.
It varies from the lender to lender. Bank of Scotland has different instructions for example to Nationwide. If you call us we can investigate further via the relevant lender. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Marylebone. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Marylebone to see if the conveyancing costs will increase in light of this.
I have been recommended by a few property agents in Marylebone to choose a conveyancer using your seach tool. What’s the financial incentive for Estate Agents to offer your site over and above a competitor’s?
We refuse to offer any financial incentive for directing people our way. We found it would be just too difficult to pay a commission because home movers will think, ‘Why is the agent getting a kickback? Why am I not receiving any benefit too?’ So we decided to step away from that.