We are soon to exchange on the purchase of a property in Monmouthshire but as a result of damage from a small fire at the property I have managed to agree reparation from the current proprietors in the sum of £3k taking the form of a adjustment in the price. This was going to be addressed as part of the conveyancing process yet Coventry BS are not allowing this. Should they have been involved?
Your property lawyer that is on the Coventry BS approved list is required to disclose to Coventry BS of any variations to the sale price. If you prohibit your solicitor to notify the reduction to Coventry BS then they would have to discontinue acting for you. In addition, Coventry BS and you would have to appoint a new conveyancer for your conveyancing in Monmouthshire.
Will lawyers ask for money on account when it comes to conveyancing in Monmouthshire?
If you are buying a property in Monmouthshire your lawyer will ask you place them with monies to cover the the cost of the conveyancing searches. This will be the total of the cost of the conveyancing searches. When the down payment is payable against the sale price then this should be asked for immediately before exchange of contracts. The final balance that is due will be payable a couple of days prior to the completion date.
We are purchasing a apartment in Monmouthshire. It might be a silly question but how we can trust a conveyancer? On completion day we will need to send funds into their account. What protection do we have from them run away with our monies?
Be assured that all money in a Solicitors client account is 100% safe, and even if your Solicitor ran off with it, the Law Society would reimburse you fully.
Completion of my remortgage has taken place for my property in Monmouthshire. Conveyancing was of an acceptable standard but I would like to complain about the lender. How do I make a complaint?
All lenders have complaints procedures. Your first port of call should be one of the lender’s branches or the Customer Services Team at head office. We understand that complaints to a lender are resolved very quickly. If you feel the matter is not resolved you can write to Financial Ombudsman Service, South Quay Plaza, 183 Marsh Wall, London E14 9SR who will take matters further.
Our offer on a detached house in Monmouthshire has been accepted, but there is a chain. The vendors have offered on a flat, however it’s not been accepted yet, and are looking at other properties in the pipeline. I have instructed a bricks and mortar conveyancing solicitor in Monmouthshire. What should be my next step? At what stage should I apply for the mortgage with Principality?
It is understandable to have concerns where there is a chain as you are unlikely to want to incur costs too early (home loan application is approx £1k, then survey, Monmouthshire conveyancing search fees, etc). First, you must check that your conveyancing practitioner is on the Principality approved list. Regarding the next stages this very much dictated by the uniqueness of your case, desire for this property and on the state of the market. During a rising market the majority of home buyers will apply for a home loan with Principality and pay for the valuation and only if it was satisfactory would they pay their solicitor to proceed with the conveyancing in Monmouthshire.
three months have gone by since my purchase conveyancing in Monmouthshire took place. I have checked the Land Registry website which shows that I paid £150,000 when infact I paid £160,000. 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 property 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 Monmouthshire differ for new build properties?
Most buyers of new build residence in Monmouthshire come to us having been asked by the developer to sign contracts and commit to the purchase even before the property is built. This is because developers in Monmouthshire usually buy the real estate, 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 conveyancing solicitors 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 Monmouthshire or who has acted in the same development.
We are one month into a freehold purchase having been recommend to a firm by the selling agent to execute conveyancing in Monmouthshire. I am am very dissatisfied with the level of service. Could you you assist me in finding new solicitors?
A conveyancer would have to be really poor in order to consider diss instructing them. Has the loan offer been issued? If so you need to make them aware of the new conveyancer and get the mortgage documents are issued to the new lawyers. The solicitor ideally needs to be on the lenders approved list to avoid added charges and frustration. So that should be your first question of the new solicitors. The find a solicitor tool will assist you in finding a lender approved solicitor for your conveyancing in Monmouthshire