The lawyer who helped my last purchase has given a fee estimate £1350 for fixed fee conveyancing in White City. I’m hoping to sell a Edwardian detached home for £200,000. Are these conveyancing fees excessive? Is it in excess of what I should be paying for conveyancing in White City?
The estimate does seem a tad overpriced. If you are happy to invest time comparing charges you may be able to trim some of the expense by as much as £125. On the other hand, you couldcome to regret opting for an an untested conveyancer. If is important to ensure that the solicitor can also act for your mortgage company. You can employ our search tool to find a White City conveyancing company on the banks approved list of lawyers which can often include conveyancing solicitors in White City.
What does my ID and proof of funds have anything to do with my conveyancing in White City? Is this really necessary?
To satisfy the Money Laundering Regulations any White City conveyancing firm will require proof of identity in all conveyancing transactions. This is normally dealt with by provision of a passport and an original bank statement or utility account evidencing your correct address.
Under Money Laundering Regulations, property lawyers are duty bound to ascertain not simply the ID of conveyancing clients but also the source of monies that they receive in respect of any matter. An unwillingness to disclose this will result in your conveyancer ending their retainer with you, as clearly this will cause a conflict between the set Regulations and a refusal to disclose.
Your conveyancers are duty bound to inform the relevant authorities should they believe that any monies received by them may contravene the Anti-terror and anti-money-laundering rules.
This question may be naive but I am wet behind the ears as a 1st time purchaser of a two bedroom flat in White City. Do I pick up the keys to the property on completion from my lawyer? If so, I will instruct a High Street conveyancing solicitor in White City?
There is no need to visit the lawyers office on the day of completion. Conveyancing lawyers for you will electronically transfer the purchase money to the vendor’s solicitors, and once they have received this, you will be invited to collect the keys from the selling Agents and move into your new home. Usually this happens between 1 and 3pm.
We are buying a victorian detached house in White City. We would like to carry out a loft conversion at the property.Will the conveyancing process involve enquiries to determine if these works are permitted?
Your solicitor will check the registered title as conveyancing in White City can on occasion identify restrictions in the title documents which restrict certain changes or need the consent of a 3rd party. Some extensions require local authority planning permissions and approval in accordance building regulations. Many areas are designated conservation areas and special planning restrictions apply which frequently prevent or affect extensions. You should check these things with a surveyor ahead of any purchase.
Intending to buy a flat in White City. I have received an online quote from a licenced conveyancer, which states: "There will be no charge for dealing with the Lender if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the Principality conveyancing panel. I wanted to make sure it means there will be no additional fees for dealing with the mortgage.
They are simply saying that the cost for acting for the lender is included in the fee being quoted. It is worth you checking that the White City lawyer is on the Principality conveyancing panel.
I opted to have a survey done on a house in White City before appointing solicitors. I have been advised that there is a flying freehold overhang to the house. My surveyor has said that some mortgage companies tend not grant a loan on this type of premises.
It depends who your proposed lender is. Bank of Scotland has different instructions from Birmingham Midshires. Should you wish to telephone us we can check via the relevant mortgage company. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in White City. Conveyancing will be smoother if you use a solicitor in White City especially if they are familiar with such properties in White City.
Do I need to be suspicious that brokers that I am dealing with are suggesting a nationwide conveyancing firm rather than a High Street White City conveyancing company?
As with many professional services, often referrals from relatives can be very helpful. Yet there are lots of people with a keen interest in a conveyancing transaction; estate agents, financial adviser and lenders might all suggest solicitors to select. On occasion these lawyers might be known to one of the organisations as one of the best in their field, but occasionally there is an underlying financial incentive behind the recommendation. You are at liberty to select your preferred lawyer. However, bear in mind that the majority of mortgage providers specify a panel list of law firms you must use for the lender related work in your transaction.
What is the reason for my lawyer requiring a list of items of ID ahead of starting selling or purchasing a property in White City?
White City lawyers are obliged by the Law Society, Solicitors Regulation Authority, the Land Registry and current AML legislation to certify that the have verified the identity of their clients. It is also sometimes a requirement of your lender where you are obtaining a mortgage. Furthermore they have to complete various forms, particularly those relating to stamp duty land tax and need to have details such as your full names, NI number and date of birth.