Recently been in touch with my conveyancing lawyer in Llay who conducted the legals 18 months ago asking for a conveyancing costs illustration based on the same type of house sale & purchase (a leasehold residence and a freehold property) of similar values with a mortgage from Bank of Ireland. I am now being quoted double. Am I right to be tempted to shop around for a cheaper online property lawyer?
The costs illustration is slightly on the steep side. If you shop around you may be able to trim some of the cost by as much as £125. That being said, providing that you were content with the legal work the firm provided you maycome to regret opting for an a cheaper conveyancer. Remember to be sure that the conveyancer can represent Bank of Ireland. Do employ our search tool to locate a Llay conveyancing firm on the Bank of Ireland member panel, which can often include conveyancing solicitors in Llay.
Do lenders provide you with an approved list of Llay conveyancing solicitors? How do you know who is on the Clydesdale conveyancing panel?
Llay conveyancing firms themselves provide us confirmation that they are on the Clydesdale conveyancing panel as opposed to being supplied with a list from Clydesdale directly.
It has been 2 months following my purchase conveyancing in Llay concluded. I have checked the Land Registry website which shows that I paid £175,000 when infact I paid £215,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the premises from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
I am looking for a ground for flat up to £305k and identified one round the corner in Llay I like with amenity areas and railway links in the vicinity, however it only has 52 remaining years left on the lease. I can't really find anything else in Llay in this price bracket, so just wondered if I would be making a grave error buying a lease with such few years left?
Should you need a home loan the shortness of the lease will be a potential deal breaker. Discount the offer by the expected lease extension will cost if not already taken into account. If the existing owner has owned the premises for at least 2 years you may request that they start the process of the extension and pass it to you. An additional ninety years can be extended on to the current lease with a zero ground rent applied. You should speak to your conveyancing lawyer about this matter.
When it comes to my conveyancing in Llay should I be paying VAT on the following: (1) Land reg fee on purchase (2) Pre - completion search fee (3) SDLT E submission on purchase (4) Bank TT fee
(1) Land reg fee on purchase - No (2) Pre - completion search fees -No, (such conveyancing searches are HMLR ones and means £4 and possibly £2 bankruptcy per name on your mortgage) (3) SDLT E submission on your purchase - There is no VAT on Stamp Duty. However if the firm is charging a stamp duty e-submission fee as part of their services - some Llay conveyancers do - that will incur VAT(4) Bank transfer fee - Yes it is for the property lawyer's time in submitting the funds this way.