I chose a high street firm for my conveyancing in Thornbury today. Upon checking the Ts and Cs I noteI am liable for costs even if the movedoes not proceed. Should I go with them or choose a web based lawyer advertising no-sale-no-fee conveyancing in Thornbury?
It is usually ‘give and take’ in that if "No Completion No Fee" is advertised then the conveyancing charges will generally be uplifted to counteract those transactions that fail to complete. Also remember that such offerings rarely protect you from expenditure e.g. Thornbury conveyancing search expenses.
What happens if my solicitor is expelled from the TSB Solicitor panel ahead of completing my conveyancing in Thornbury?
First, this is a very rare occurrence. 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 for a fee.
Me and my partner are purchasing a flat in Thornbury. I might seem paranoid but how we can trust a conveyancer? On completion day we have to deposit our life savings into their account. What is the protection we have from them run away with our monies?
Be assured that all money in a Solicitors client account is 100% safe, and even if your Solicitor ran off with it, the Law Society would reimburse you fully.
My conveyancer has informed me that flying freehold insurance is required on my purchase. What is the typical level of cover needed for conveyancing in Thornbury?
The appropriate level of flying freehold indemnity insurance should be dictated by who who your lender is. It would differ for example between Yorkshire Building Society and Chelsea Building Society. Conveyancing practitioners as opposed to members of the public take out such insurances.
When it comes to lenders such as HSBC, do Thornbury solicitors have to pay a fee to be on the list of approved solicitors?
We are unaware of any bank fees to be on their list of approved firms, although some do levy an administration fee to deal with the processing of the conveyancing panel application.
I've recently found out that there is a flying freehold issue on a house I have offered on last month in what should have been a straight forward, no chain conveyancing. Thornbury is the location of the property. Is there any advice you can give?
Flying freeholds in Thornbury are rare but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Thornbury 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 Thornbury 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 premises.
I need to instruct a conveyancing practitioner in Thornbury for my sale. Is there any facility to review a solicitor's record with the legal regulator?
Members of the public may search for published Solicitor Regulator Association (SRA) decisions resulting from investigations from 2008 onwards. Visit Check a solicitor's record. To find records Pre 2008, or to check a firm's history, phone 0870 606 2555, 08.00 - 18.00 any week day save for Tuesday when lines open at 9.30am. For callers outside the UK, dial +44 (0)121 329 6800. The SRA could recorded telephone calls for training purposes.
What is the reason for my lawyer requiring a list of items of ID before they can proceed with selling or purchasing a property in Thornbury?
Thornbury lawyers are duty bound by the Law Society, SRA, the Land Registry and current Money Laundering Regulations to record that the have verified the identity of their clients. It will also be a condition of your bank if you are obtaining a mortgage. Furthermore they have to complete various forms, particularly those relating to stamp duty land tax and need to have information such as your full names, NI number and date of birth.