The conveyancer who dealt with my last purchase has given a fee calculation of £1700 for fixed fee conveyancing in Putney. I’m looking to sell a purpose built house for £200,000. Are these conveyancing fees excessive? Is it above the average fee for conveyancing in Putney?
The estimate does seem a tad steep. If you shop around you might reduce the fees slightly by perhaps £100 plus VAT. That being said, you mightcome to rue opting for an an unknown lawyer. Remember to ensure the conveyancer can act for your mortgage company. Do utilise our search tool to locate a Putney conveyancing practice on the banks member panel which can often include conveyancing solicitors in Putney.
I am hoping to complete my purchase in Putney next Thursday. My property lawyer now wants me to supply her with proof of content and building insurance for the property as he says that he has to check this in his capacity as lawyer for the bank. What risks does the mortgage company expect the insurance to cover?
All property lawyers on acting for lenders would need to check that the following risks are covered fire; lightning; aircraft; explosion; earthquake; storm; flood; escape of water or oil; riot; malicious damage; theft or attempted theft; falling trees and branches and aerials; subsidence; heave;landslip;collision;accidental damage to underground services;professional fees, demolition and site clearance costs; and public liability to anyone else. There are some other issues such as the level of excess that are set out in a lender’s UK Finance Lenders’ Handbook conditions. These requirements are not specific to conveyancing in Putney.
we are a couple who wish to acquire a newbuild apartment in Putney with a residential mortgage from The Royal Bank of Scotland.We like our Putney conveyancing solicitor but The Royal Bank of Scotland informed us her practice is not on their "panel". We have to appoint a The Royal Bank of Scotland panel lawyer or keep our high street solicitor and pay for a The Royal Bank of Scotland panel lawyer to act for them. This seems very unfair; is there anything we can do?
No, not really. The loan issued to you contains various provisions, one of which will be that lawyers needs to be on the The Royal Bank of Scotland approved list. in the past, most mortgage companies had large numbers of solicitors on their panels: a borrower could choose one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. Another option that might be available is for your lawyer to apply to be on the conveyancing panel for The Royal Bank of Scotland
I am assisting my sister sell her house in Putney. Will the conveyancer commission an energy assessment or do I organise this?
After the abolition of HIPs, energy assessments remained a required part of moving house. An energy performance certificate must be to hand in advance of the property being advertised. This is not a task that solicitors ordinarily arrange. If you are using a Putney conveyancing solicitor they may be willing to arrange EPC’s due to their contacts with long established local accredited person
Forgive me if this question is silly but I am unexperienced as FTB of a garden flat in Putney. Do I pick up the keys to the house on the completion date from my solicitor? If so, I will use a High Street conveyancing solicitor in Putney?
There is no need to visit the lawyers office on the day of completion. Your solicitors will arrange to send the completion advance to the vendor’s lawyers, and shortly after the monies have arrived, you should be called to collect the keys from the Estate Agents and start moving into the property. This tends to happen between 1 and 3pm.
I was told two weeks ago that my mortgage has been agreed to by Co-operative. Is it usual for Co-operative to only issue the offer once my solicitor in Putney is approved on their conveyancing panel? Co-operative have asked my solicitor to see a copy of their Professional Indemnity Insurance Schedule.
A lender would not issue a mortgage until they have details of a lawyer on their panel. It can take a few weeks for Co-operative to deal with your lawyer's application to be on the Co-operative conveyancing panel. There's no guarantee that your solicitor will be accepted.
I decided to have a survey completed on a property in Putney in advance of instructing lawyers. I have been informed that there is a flying freehold element to the property. The surveyor has said that some banks will refuse to give a loan on such a house.
It varies from the lender to lender. Santander has different instructions from Birmingham Midshires. If you contact us we can check with the appropriate mortgage company. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Putney. Conveyancing will be smoother if you use a solicitor in Putney especially if they are acquainted with such properties in Putney.
Should I be concerned that brokers that I am dealing with are suggesting an online conveyancing firm rather than a High Street Putney conveyancing firm?
As with many service providers, often suggestions from connections can be extremely useful or valuable. But there are many people with a keen interest in a conveyancing deal; estate agents, mortgage brokers and mortgage companies may recommend lawyers to instruct. Sometimes the conveyancers might be known to one of the organisations as experts in their field, but sometimes there is an underlying financial incentive behind the endorsement. You have the discretion to appoint your preferred lawyer. However, bear in mind that some banks specify a panel list of solicitors you are obliged to use for the lender related work in your home move.