I chose a Southam based lawyer for our conveyancing in Southam yesterday. Reviewing the Terms and Conditions I noteI am responsible for costs even where the transaction does not complete. Should I ditch them and instruct an internet conveyancing company offering no completion no charge conveyancing in Southam?
Generally there is a compromise along the lines that if "No Completion No Fee" is offered then the conveyancing charges will tend to be be more expensive to offset those cases that abort. Dont forget that such offerings tend not to protect you from disbursements for example Southam conveyancing search fees.
Do all mortgage companies provide you with an approved list of Southam conveyancing solicitors? How do you know who is on the Co-operative conveyancing panel?
Southam conveyancing firms themselves provide us confirmation that they are on the Co-operative conveyancing panel as opposed to being supplied with a list from Co-operative directly.
We are selling our flat in Southam. Will my conveyancing practitioner need to be required to be on the UBS conveyancing panel in order to deal with redeeming my mortgage?
Ordinarily, even if your lawyer is not on the UBS 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 conditions fairly frequently at the moment.
I have paid off my mortgage with Nottingham. I assume I don't need a Southam solicitor on the Nottingham panel to remove the mortgage at the Land Registry. Please confirm.
If you have finished paying off your Nottingham mortgage, they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the Nottingham mortgage from the register. Nottingham, and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:
- but are not moving to another property
- where Nottingham has sent the Land Registry the discharge electronically, and
- Nottingham has instructed the Land Registry to do so
I recently had an offer accepted on an apartment in Southam. My mortgage broker recommended their conveyancers. I paid an on account payment of £200. A few days later, the solicitor called me sheepishly admitting that they were not on the RBS conveyancing panel. Am I right in thinking that I should be due a refund?
You should be able to recover this from the law firm if they were not on the RBS panel. They should have asked at the outset which lender you were obtaining a mortgage with. An important lesson to readers of this site is to check that the lawyers are on the appropriate lender panel.
Principality have agreed my mortgage in principle, my bid on a property in Southam has been agreed to, what happens next?
The property agent will want to know who your solicitors are (ensure that the conveyancing practitioners are on the bank’s approved list). Call up Principality or your financial adviser and finish off any relevant paperwork. Principality will instruct a valuer who will get in contact with the estate agent or vendor to schedule an appointment. Once carried out (assuming no problems) it takes about a week for the mortgage offer to be issued. Principality will send the offer to you and your conveyancing practitioners. The legal work will then take it’s course according the nature and complexity of the conveyancing in Southam.
How does conveyancing in Southam differ for newly converted properties?
Most buyers of new build premises in Southam contact us having been asked by the seller to sign contracts and commit to the purchase even before the house is finished. This is because new home sellers in Southam usually purchase 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 conveyancers 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 accustomed to new build conveyancing in Southam or who has acted in the same development.
I have been recommended by numerous property agents in Southam to locate a solicitor on your site. Is there a financial advantage for Estate Agents to market your lawyers over a competitor’s?
We refuse to give any financial incentive for sending work our way. We thought it would be too underhand a fee because a client could think, ‘Why is the agent getting a kickback? Why am I not receiving any benefit too?’ So we decided to step away from that.