We were about to choose a conveyancing solicitor in Isle Of Wight listed by you but have come across some other costs illustrations via the web appear less pricey – why is this?
One can find numerous solicitors offering theoretically looks to be cut price. You should think long and hard as to how important this transaction is to you that want to take 'cheap' risks concerning the quality of the legal work. Many of them accentuate a low fee to tempt you but conceal supplemental costs in the fine print..
In what way does my ID and proof of funds have anything to do with my conveyancing in Isle Of Wight? What am I being asked for?
Anti-terror and anti-money-laundering regulations require solicitors and licensed conveyancers to check the identification documents of the potential client they are dealing with prior to agreeing to accepting their conveyancing instruction. The Terms of Engagement that you need to sign should reaffirm this. Your lawyer also has obligations to obtain certain documents in accordance with the CML Lenders Handbook requirements last updated on 1st December 2014. Where you refuse to supply ID verification documents, your solicitor would not be able to act for you.
When it comes to lenders such as Leeds Building Society, do Isle Of Wight conveyancers incur a fee to be on the conveyancing panel?
We are not aware of any lender fees to be on their panel, although some do charge an administration charge to deal with the processing of the conveyancing panel submission.
is it true that all Isle Of Wight solicitor practices on the Leeds Building Society conveyancing panel are governed by the Solicitors Regulatory Authority?
As a firm of solicitors, in order to be on the Leeds Building Society approved list of solicitors they would need to be regulated by the Solicitors Regulatory Authority. The majority of lenders do list licenced conveyancers on their panel in which case such organisation would be overseen by the Council of Licensed Conveyancers.
I've read lots of house buying guides, I note that they all recommend that you should get your house surveyed prior to buying it. When I asked my local Isle Of Wight solicitor - who is on the Nottingham conveyancing panel - on this she said they don't do this and I need to contract an independent surveyor. Is that normal?
Nottingham will need an independent valuation of the property. Your lawyer will not arrange this. Usually Nottingham 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 Isle Of Wight 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 used Arc property Solicitors several years ago for my conveyancing in Isle Of Wight. Now, I need my documents however the law firm has closed. What do I do?
You should contact the Solicitors Regulatory Authority (SRA) to help locate your conveyancing files. They can be contacted on please contact on 0870 606 2555. Alternatively, you should use their online form to make an enquiry. You will need to provide the SRA with as much information as possible to assist their search, including the name and address in Isle Of Wight of the conveyancing firm of solicitors you previously instructed, the name of conveyancing solicitor with whom you had dealings, and the date on which you last had dealings with the firm.
I have been advised by three or four local selling agents in Isle Of Wight to get a quote from a conveyancer on your site. Is there a financial advantage for Estate Agents to offer your lawyers rather than alternative conveyancing organisations?
We don’t offer any referral fee for pointing buyers and sellers in our direction. We found it would be just too difficult to pay a commission as home movers will think, ‘Why is the agent getting a kickback? Why am I not receiving any benefit too?’ So we decided to step away from that.