I was referred a conveyancer who has sent a quote for £1400 for no sale no fee conveyancing in Sanderstead. I am looking to sell a purpose built house for £250,000. Is this over the top? Is it in excess of what I should be paying for conveyancing in Sanderstead?
The charges are a bit high. If you shop around you may be able to get the conveyancing a bit cheaper by say £125. That being said, you mightlive to rue choosing an a cheaper solicitor. Don't forget to check that the conveyancer can represent your mortgage company. You can use our search tool to choose a Sanderstead conveyancing company on the lender’s approved list of lawyers which can often include conveyancing solicitors in Sanderstead.
My lawyer has identified a a problem with the lease for the flat we are buying in Sanderstead. The seller’s lawyers have offered defective title insurance as a solution. We are content with insurance and will cover the costs. Our property lawyer has advised that he must be satisfied that the mortgage company is happy with this solution. Who is the client here, us or the mortgage company ?
Even though you have a mortgage offer from the bank does not mean to say that the property will meet their conditions for the purposes of a mortgage. Your lawyer has to ensure that the lease has to comply with the UK Finance Lenders’ Handbook requirements. You and the lender are the client. These conveyancing instructions must be adhered to.
I am purchasing a garden flat in Sanderstead. Can I do my own conveyancing?
Leaving aside the complexities and merits of DIY conveyancing in Sanderstead you will have to appoint a solicitor on your lender's conveyancing panel to look after their interests. Most people therefore find it easier to let the solicitor act for them and the lender. Furthermore there is minimal cost savings to be made in you doing conveyancing for yourself and another lawyer conducting the conveyancing for the lender. Please feel free to use the search tool to find a lawyer on your lender panel in Sanderstead.
I'm purchasing a new build house in Sanderstead benefiting from help to buy. The developers would not move on the amount so I negotiated five thousand pounds worth of fixtures and fittings instead. The sale representative suggested that I not disclose to my conveyancer about the side-deal as it may affect my loan with Bank of Ireland. Is this normal?.
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.
I've recently found out that there is a flying freehold issue on a property I put an offer in two weeks back in what should have been a quick, chain free conveyancing. Sanderstead is where the house is located. Is there any advice you can impart?
Flying freeholds in Sanderstead are unusual but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Sanderstead you would need to get your solicitor to go through the deeds very carefully. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Sanderstead may decide 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 residence.
Some weeks ago I was advised by my mortgage company that their panel lawyers operate no sale no charge basis for conveyancing in Sanderstead. I had a purchase abort and now the lawyers have invoiced for search fees! They say the fees are nothing to do with their fees!
Sanderstead conveyancing search fees are disbursements not solicitors costs as these are paid to independent parties.