Having been told to check out your service we were about to appoint conveyancing solicitor in Walsall found on your site but stumbled across some other estimates via the web look cheaper – how come?
There are lots of conveyancing outfits offering what appear to be very low prices. Our recommendation is to think twice about how important this transaction is to you that you are willing to be penny wise pound foolish in relation to the quality of the legal work. Many of them list a bargain quote to tempt you but bury supplemental costs in the small print..
AssumingI were to buy a simple residential housein Walsall for cash and have no survey and no conveyancing searches how much could I expect to have to pay for conveyancing in Walsall?
The only reduction in fees you would achieve is the Walsall conveyancing searches. The property lawyer is required to do the vast majority of work - money laundering, communicating with your sellers lawyer, SDLT submission, register the ownership etc. You might save a bit for them not having to register a charge but it will not be meaningful.
I currently have a mortgage with Clydesdale for my property in Walsall. Conveyancing has been completed 12 months ago. If I am intending to rent out my property and do not currently have a buy-to-let mortgage do I need to remortgage to a BTL mortgage or inform Clydesdale?
You must advise Clydesdale in advance of renting your property as this is likely to be a breach of Clydesdale’s mortgage conditions. In many cases banks or building societies will allow you to rent 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 Clydesdale directly. You need not do this via a Clydesdale conveyancing panel lawyer.
I can not fathom if my mortgage offer requires a lease extension. I have called my Walsall bank branch on numerous occasions and was reassured it wasn't an issue and they would lend. My Walsall conveyancing solicitor - who is on the lender conveyancing panel- called and was told they refuse to lend in accordance with their specific requirements. Who do I believe?
Provided that the property lawyer is on the mortgage company panel, she or he must follow the CML Handbook specifications for the bank. Unless your lawyer obtains specific confirmation in writing that the bank will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the lender to contact your lawyer in writing confirming that they will accept the number of years remaining.
Clydesdale have agreed my home loan in principle, my offer on a apartment in Walsall has been agreed to, what happens next?
Your property agent will want to be informed of your conveyancer's details (ensure that the lawyers are on the lender’s panel). Call up Clydesdale or the financial adviser and finalise any outstanding forms. Clydesdale will instruct a valuer who will get in touch with the estate agent or owners to schedule a slot for the valuation to take place. Once conducted (assuming no problems) it takes about a fortnight to receive the mortgage offer. Clydesdale will issue the offer to you and your conveyancers. The transaction will then take it’s course according the nature and complexity of the conveyancing in Walsall.
I am buying my first flat in Walsall with a mortgage from Aldermore. The developers would not move on the amount so I negotiated £7000 of additionals instead. The house builders rep advised me not reveal to my solicitor about this extras as it could adversely affect my loan with the lender. Do I keep my lawyer in the dark?.
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.
Due to the input of my in-laws I had a survey completed on a property in Walsall in advance of instructing solicitors. I have been advised that there is a flying freehold overhang to the property. Our surveyor has said that some lenders may not give a loan on a flying freehold premises.
It depends who your proposed lender is. Santander has different requirements for example to Birmingham Midshires. Should you wish to call us we can check via the appropriate mortgage company. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Walsall. Conveyancing may be slightly more expensive based on your lender's requirements.
I need to retain a conveyancing solicitor for residential conveyancing in Walsall. I have stumble across a site which appears to be the ideal answer If there is a chance to get all formalities done via web that would be preferable. Should I be concerned? What are the potential pitfalls?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?