We hired a Mile End based solicitor for our conveyancing in Mile End last week. After carefully reading the terms of engagement I noteI am on the hook for charges even if the dealdoes not go ahead. Should I ditch them and instruct a web based firm promising no move no charge conveyancing in Mile End?
Generally there is a compromise along the lines that if "No Sale No Fee" is advertised then the conveyancing charges will tend to be be higher to offset the transactions that do not proceed. Please beware that these schemes tend not to protect you from expenses e.g. Mile End conveyancing search charges.
Can you explain why leasehold purchase conveyancing in Mile End costs more?
In summary, leasehold conveyancing in Mile End and elsewhere usually necessitates more work compared to freehold conveyancing. This includes lease investigation, communicating with the landlord about the service of applicable notices, procuring current service charge and management information, obtaining the landlord’s consents and reviewing management accounts. The obligations on both the landlord and the tenant in the lease need to be studied by the buyer’s conveyancing team and read from beginning to end – regardless of the fact the lease has passed through many different property solicitors hands since it was first granted.
My flat in Mile End is up for sale and I have a buyer. Does my conveyancer have to be on the Leeds Building Society conveyancing panel in order to deal with paying off my mortgage?
Ordinarily, even if your lawyer is not on the Leeds Building Society conveyancing panel they can still act for you on your sale. It might be that the lender will not release the original deeds (if applicable and increasingly irrelevant) until after the mortgage is paid off. You should speak to your lawyer directly before you start the process though to ensure that there is no problem as lenders are changing their requirements fairly frequently currently.
I'm purchasing my first flat in Mile End with a loan from Bank of Ireland. The builders would not budge the price so I negotiated five thousand pounds worth of fixtures and fittings instead. The house builders rep advised me not to tell my solicitor about this deal as it could impact my mortgage with the bank. Should I keep quiet?.
All lenders require a Disclosure of Incentives Form from the developer of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
Yesterday I discovered that there is a flying freehold element on a property I have offered on last month in what should have been a straight forward, chain free conveyancing. Mile End is the location of the property. Can you offer any advice?
Flying freeholds in Mile End are rare but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Mile End you would need to get your solicitor to go through the deeds very carefully. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Mile End 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.
How difficult is it to swap solicitor as I need to appoint a firm on the Clydesdale conveyancing panel. I was using a local conveyancing solicitor in Mile End round the corner but she is not approved by Clydesdale
It would be our pleasure to assist you find a conveyancing solicitor in Mile End on the Clydesdale panel. Please note that the conveyancers that we list do not pay us fee if you instruct them and are under regulation of the SRA who regulate all conveyancing solicitors in Mile End. Using search facility on this page, you can compare and instruct different solicitors and conveyancers both nationally and in Mile End.