We were about to retain a conveyancing solicitor in Wheatley endorsed by you but stumbled across some other estimates on the internet appear less expensive – how come?
There are hundreds of conveyancers advertising theoretically looks to be very low prices. We suggest that you think long and hard about how important this transaction is to you that want to be penny wise pound foolish with regard to the standard of the legal work. Some embed additional charges deep into the terms and conditions. The law firms that we list for conveyancing in Wheatley will notbehave this way.
Finally the sale completed on my house in Wheatley last July yet the purchaser is telephoning daily to say his conveyancer needs to hear from mine. What are the post completion sale formalities following completion?
Post completion of your house sale your lawyer is duty bound to forward the transfer documentation and all additional paperwork to the buyer’s solicitors. Where relevant, your solicitor should also evidence that the legal charge in favour of the lender has been redeemed to the buyers solicitors. There is unlikely to be post completion requirements specific conveyancing in Wheatley.
is it true that all Wheatley conveyancing solicitors on the TSB conveyancing panel are governed by the SRA?
As a firm of solicitors, in order to be on the TSB conveyancing panel they would need to be regulated by the SRA. Some lenders do list licenced conveyancers on their panel and in that case the practice would be overseen by the CLC.
I am expecting a DIP from Principality this week so we can work out what to offer on a property we like as otherwise we only have online calculators to go by (which aren't taking into account credit checks etc). Do Principality recommend any Wheatley solicitors on the Principality conveyancing panel, or is it better to find our own lawyer?
You will need to appoint Wheatley solicitors independently although you'll need to choose one on the Principality conveyancing panel. The solicitor represents both you and Principality through the process.
Having read lots of mortgage guides, I note that it is considered advisable to get your house surveyed prior to buying it. When I asked my local Wheatley solicitor - who is on the Leeds Building Society conveyancing panel - on this she said they don't do this and I need to contract an independent surveyor. is that correct?
Leeds Building Society will need an independent valuation of the property. Your lawyer will not arrange this. Usually Leeds Building Society will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey. You may wish to consider appointing your own Wheatley surveyor to carry out a survey or prepare a home buyers report on the property. It is up to you to satisfy yourself that the property is structurally sound before you buy it. If the survey or report reveals that building work is needed, you should tell your solicitor. You may wish to renegotiate with the seller.
I've found a house that seems to meet my requirements, at a reasonable figure which is making it more attractive. I have just found out that it's a leasehold rather than freehold. I am assuming that there are particular concerns buying a house with a leasehold title in Wheatley. Conveyancing solicitors have not yet been appointed. Will they explain the issues?
Most houses in Wheatley are freehold rather than leasehold. In this scenario it’s worth having a local solicitor used to dealing with such properties who can assist with the conveyancing process. We note that you are buying in Wheatley in which case you should be shopping around for a Wheatley conveyancing practitioner and be sure that they have experience in dealing with leasehold houses. As a matter of priority you will need to check the number of years remaining. As a tenant you will not be at liberty to do whatever you want with the house. The lease will likely included provisions for example requiring the freeholder’spermission to conduct alterations. It may be necessary to pay a contribution towards the upkeep of the estate where the property is part of an estate. Your lawyer should advise you fully on all the issues.
I own a leasehold flat in Wheatley, conveyancing formalities finalised 5 years ago. Can you work out an approximate cost of a lease extension? Comparable flats in Wheatley with an extended lease are worth £181,000. The ground rent is £55 per annum. The lease terminates on 21st October 2074
With only 50 years unexpired we estimate the price of your lease extension to range between £31,400 and £36,200 plus professional fees.
The suggested premium range above a general guide to costs for renewing a lease, but we cannot give you a more accurate figure without more comprehensive due diligence. Do not use the figures in tribunal or court proceedings. There are no doubt additional concerns that need to be considered and you obviously want to be as accurate as possible in your negotiations. You should not move forward based on this information before getting professional advice.
Our conveyancer in Wheatley has requested from me identification documents stating that this is part of his requirements as a solicitor on the bank Solicitor panel. Can this be correct?
Due to Money Laundering Regulations your conveyancing lawyer is duty bound to confirm positively your identification when entering into a business relationship with you. It is a criminal offence if your lawyer not do this. If you do not provide ID early in the transaction the solicitor must refuse to act for you. It’s unlikely a lawyer will turn you away if you come to the first meeting without relevant ID but you will have to produce it at some point so you might as well bring it with you to the initial meeting so the lawyer can tick the ID verification box and start sorting out the conveyancing straight away. If you are getting a mortgage, your lawyer also has to check ID documents to satisfy the lender. This is not unique to conveyancing in Wheatley