When can the exchange of contracts occur in purchase conveyancing in Shawbury and do I need to be at the lawyers office?

If you are round the corner to one of the conveyancing solicitors in Shawbury you are invited in to sign documents. That being said, the lender approved solicitors we recommend provide countrywide coverage for conveyancing and provide just as detailed and professional a job for you when communicating with you digitally. The executing of the purchase agreement is not the point of no return. Signing on the dotted line simply enables the solicitor to officially exchange at the appropriate time, which is ordinarily shortly after signing. The procedure is is usually a five minute process, although where a lengthy "chain" is in play, since the process requires the relevant party's solicitor (not necessarily a conveyancing solicitor in Shawbury)to be in the office available at the end of the phone to exchange contracts.

Me and my partner are buying a property in Shawbury. I might seem paranoid but how we can trust a lawyer? On the day of competition we have to put funds into their account. What protection do 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.

Can you help - my lawyer says that chancel insurance is necessary on my purchase. What is the level of cover for Shawbury conveyancing?

The right level of chancel indemnity insurance depends on your lender. It would differ for example between Birmingham Midshires and Coventry Building Society. Conveyancing solicitors as opposed to borrowers take out such insurances.

We previously instructed solicitors located in Shawbury on the Lloyds solicitor approved list. They are now charging me a further sum for the legal aspects of the Lloyds mortgage. Is this a supplemental conveyancing fee set by Lloyds?

Unfortunately, so long as it is in their Terms of Engagement or Quote then yes your lawyer may levy a fee for this. This fee is not set by Lloyds but by your Shawbury conveyancing practitioner. Some firms on the Lloyds panel will levy an ‘acting for lender’ fee and others do not.

Should my solicitor be asking questions regarding flooding during the conveyancing in Shawbury.

The risk of flooding is if increasing concern for lawyers specialising in conveyancing in Shawbury. Some people will buy a property in Shawbury, completely aware that at some time, it may be flooded. However, leaving to one side the physical damage, if a property is at risk of flooding, it may be difficult to obtain a mortgage, suitable insurance cover, or sell the premises. There are steps that can be taken as part of the conveyancing process to forewarn the purchaser.

Solicitors are not qualified to impart advice on flood risk, but there are a numerous checks that can be carried out by the buyer or by their lawyers which will give them a better understanding of the risks in Shawbury. The conventional set of completed inquiry forms supplied to a buyer’s conveyancer (where the solicitors are adopting what is known as the Conveyancing Protocol) incorporates a standard question of the owner to discover whether the property has historically flooded. If flooding has previously occurred which is not disclosed by the vendor, then a purchaser may commence a claim for damages resulting from an misleading response. The purchaser’s solicitors may also commission an enviro report. This should reveal whether there is any known flood risk. If so, additional investigations should be made.

I've recently found out that there is a flying freehold element on a property I have offered on last month in what was supposed to be a quick, no chain conveyancing. Shawbury is the location of the property. What do you suggest?

Flying freeholds in Shawbury are unusual but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Shawbury you must be sure that your lawyer goes through the deeds very carefully. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Shawbury may ascertain 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 residence.

Is there a reason that Shawbury conveyancing fees differ for leasehold and freehold properties?

Inevitably there is increased work needed in leasehold conveyancing. Shawbury has many leasehold properties. There is more time involved in the purchase: for example, the lease and leasehold information (including current service charge, ground rent and buildings insurance details) obtained from the freeholder or managing agents. There are strict criteria that the lease must meet in order to be acceptable to a mortgage company. If it does not meet these requirements, the lease must be amended, which can involve additional expense for the seller.