Just contacted my conveyancing solicitor in Tenbury Wells who conducted the legals 18 months ago and wanted a conveyancing quote based on an identical type of house move (a leasehold residence and a freehold property) of almost identical values with a loan from Virgin Money. I am now being charged twice the amount. Should I hunt for a cheaper internet property lawyer?
The estimate fees are a bit high. If you are content to invest time contrasting costs you might shave off some of the expense by as much as £125. That being said, providing that you were pleased with the service the firm provided you maylive to regret choosing an an unknown solicitor. If is important to be sure that the firm can also act for Virgin Money. Do utilise our search tool to select a Tenbury Wells conveyancing firm on the Virgin Money conveyancing panel, which can often include conveyancing solicitors in Tenbury Wells.
My partner and I intend to remortgage our penthouse in Tenbury Wells with Yorkshire BS. We have a son approaching twenty who lives with us. Our solicitor requested us to identify anyone over the age of 17 other than ourselves who lives in the flat. The solicitor has now sent a form for our son to sign, waiving any legal rights in the event that the property is forfeited by the lender. I have a couple of questions (1) Is this form unique to the Yorkshire BS conveyancing panel as he did not need to sign this form when we purchased 4 years ago (2) In signing this form is our son in any way compromising his right to inherit the property?
First, rest assured that your Yorkshire BS conveyancing panel solicitor is doing the right thing as it is established procedure for any occupier who is aged 17 or over to sign the necessary Consent Form, which is purely to state that any rights he has in the property are postponed and secondary to Yorkshire BS. This is solely used to protect Yorkshire BS if the property were re-possessed so that in such circumstances, your son would be legally obliged to leave. It does not impact your son’s right to inherit the apartment. Please note that if your son were to inherit and the mortgage in favour of Yorkshire BS had not been discharged, he would be liable to take over the loan or pay it off, but other than that, there is nothing stopping him from keeping the property in accordance with your will or the rules of intestacy.
Is there a reason why leasehold purchase conveyancing in Tenbury Wells is more expensive?
The conveyancing costs on a leasehold premises in Tenbury Wells is often higher when contrasted to a freehold residence. This is due to the extra investigations necessary in dealing with the landlord and managing agents to obtain evidence concerning whether the rent and maintenance fee have been paid and whether there are any large sums expected to be spent in the near future on repairs or maintenance of the building.
Can you clarify what the consequences are if my solicitor is removed from the Nationwide Conveyancing panel ahead of completing my conveyancing in Tenbury Wells?
The first thing to point out is that, this is very unlikely to happen. In most cases even where a law firm is removed off of a panel the lender would allow the completion to go ahead as the lender would appreciate the difficulties that they would place you in if you have to instruct a new solicitor days before completion. In a worst case scenario where the lender insists that you instruct a new firm then it is possible for a very good lawyer to expedite the conveyancing albeit that you may pay a significant premium for this. The analogous situation is where a buyer instructs a lawyer, exchanges contracts and the law firm is shut down by a regulator such as the SRA. Again, in this situation you can find lawyers who can troubleshoot their way to bring the conveyancing to a satisfactory conclusion - albeit at a cost.
I have today made my last payment due on my mortgage with Principality. I assume I don't need a Tenbury Wells solicitor on the Principality panel to discharge the mortgage at the Land Registry. Am I right?
If you have finished paying off your Principality 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 Principality mortgage from the register. Principality, 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 Principality has sent the Land Registry the discharge electronically, and
- Principality has instructed the Land Registry to do so
I have decided to exercise my right to buy my property in Tenbury Wells off the council. I have a mortgage agreed with Virgin Money. Conveyancing is not something I have any knowledge of. Can I proceed without a solicitor easily? I think we can but we keep being told I should use one. Any advice?
It is not advisable to proceed with a house purchase without a solicitor. The council's solicitor are not acting for you. You need a solicitor for a number reasons. One of which is to verify what plans the Council have for repairs and refurbishment for the next five years. Many leaseholders have been stung for contributions of thousands of pounds. In any event, if you are getting a mortgage with Virgin Money, you will need to appoint a solicitor on the Virgin Money conveyancing panel.
I recently had an offer agreed on an apartment in Tenbury Wells. My mortgage broker pressured me to appoint their conveyancer. I paid an on account payment of £175. A few days later, the lawyer called me embarrassingly acknowledging that they were not on the Coventry BS 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 Coventry BS 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.
I have been advised by two or three local estate agents in Tenbury Wells to find a property lawyer on your site. Is there a financial incentive for Estate Agents to offer your services over a competitor’s?
We refuse to make any financial incentive for sending work to this site. We found it would be just too difficult to pay a commission because members of the public would think, ‘Why is the agent getting a kickback? Why am I not receiving any benefit too?’ So we decided to step away from that.