We opted for a local lawyer for my conveyancing in St Luke's yesterday. Going through the official terms of business I noteI am liable for fees even where the transaction does not complete. Should I ditch them and instruct a web based solicitor practice offering no-sale-no-fee conveyancing in St Luke's?
It is usually a trade off in that if "No Completion No Fee" is offered then the fee levels will tend to be be more expensive to counteract the transactions that do not proceed. Please beware that such promotions rarely protect you from outlay such as St Luke's conveyancing search fees.
My fiance and I are buying a newly converted flat in St Luke's with a residential mortgage from National Westminster Bank.We would like to retain our St Luke's conveyancing lawyer but National Westminster Bank informed us she’s not on their approved list of firms. we are left little option but to use a National Westminster Bank panel solicitor or retain our local solicitor and pay for one of their panel ones to act for them. This seems very unfair; is there anything we can do?
Unfortunately,no. The loan offered to you contains various provisions, a common one being that solicitors will be on the National Westminster Bank approved list. Until recently, most lenders 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 solicitors to apply to be on the conveyancing panel for National Westminster Bank
This question may be naive but I am unseasoned as a 1st time purchaser of a ground floor flat in St Luke's. Do I pick up the keys to the house on the completion date from my lawyer? If so, I will use a local conveyancing solicitor in St Luke's?
There is no need to visit the lawyers office on the day of completion. Conveyancing lawyers for you will arrange to send the purchase money to the owner’s solicitors, and shortly after the monies have arrived, you should be called to collect the keys from the property Agents and move into your new home. Usually this happens early afternoon.
My partner and I have arranged a further advance on our mortgage from RBS as we intend to conduct a loft conversion to our property in St Luke's. Do we need to select a nearby St Luke's solicitor on the RBS conveyancing panel to deal with the paperwork?
RBS would not normally require firms on their approved list of lawyers to deal with the formalities. If they do require any legal work then you would need to ensure that such a lawyer was on the RBS panel.
I currently have a mortgage with UBS for my property in St Luke's. Conveyancing was finalised a year ago. Should I wish to rent out my property and do not currently have a buy-to-let mortgage do I need to remortgage to a buy-to-let mortgage or inform UBS?
UBS must be informed of your intention before renting your property as this is likely to be a breach of UBS’s mortgage conditions. In many cases banks or building societies will permit you to let out your former home without needing to switch to a buy-to-let mortgage but some lenders will add a surcharge to your mortgage rate to reflect the higher risk. You should contact UBS directly. You need not do this via a UBS conveyancing panel firm.
I have todayfound out that Stirling Law have been shut down. They conducted my conveyancing in St Luke's for a purchase of a freehold house 18 months ago. How can I check that my home is in my name in the name of the previous owner?
The quickest way to see if the property is in your name, you can make a search of the land registry (£3.00). You can either do this yourself or ask a law firm to do this for you. If you are not registered you can seek help from one of a number of St Luke's conveyancing specialists.
How do I search for a St Luke's law firm on the Accord Mortgages Ltd conveyancing panel? I have a car and am willing to travel upto 20kilometers to meet the conveyancer.
You can use the search on this website. Please pick a bank and your location and you will see a number of St Luke's conveyancing lawyers locally. We have listed some St Luke's conveyancing firms at the bottom of this page and you can call them to see if they are on the Accord Mortgages Ltd panel
I have miscalculated my finances and am a couple of thousand pounds short a 10% deposit on my apartment purchase in St Luke's , but I am keen exchange. What can I do?
One option is to try and accept a smaller deposit. Many sellers will accept a smaller deposit or even no deposit for a first time buyer or 100% mortgage. Be aware though that if you fail to complete you will still need to hand over a minimum of 10% of the purchase price regardless of how much deposit was agreed.
You can also agree a simultaneous exchange and completion as no deposit is required for this however neither party will be tied in until completion actually takes place and it can be risky if sellers change their mind at the last moment