The solicitor who dealt with my previous purchase has given a fee estimate £1350 for leasehold conveyancing in Marlow. I’m hoping to sell a newly refurbished house for £200,000. Is this overpriced? Is it in excess of the norm for conveyancing in Marlow?
The estimate does seem a tad steep. If you shop around you may be able to reduce the fees slightly by as much as a hundred pounds. That being said, you couldlive to regret choosing an an untested solicitor. If is important to check the firm can also act for your mortgage company. Do employ our comparison tool to find a Marlow conveyancing firm on the banks approved list of lawyers which can often include conveyancing solicitors in Marlow.
In what way does my ID and proof of funds have anything to do with my conveyancing in Marlow? Why is this being asked of me?
It is indeed that case that the requirement set out by your solicitor has nothing to do with conveyancing in Marlow. Nowadays you can not complete any conveyancing deal if you have not handing over evidence of your identity. This usually takes the form of a either your passport or driving licence as well as a bank statement. Remember if you are providing your driving licence as evidence of identification it must be both the paper section as well as the photo card part, one is not satisfactory without the other.
Proof of your origin of money is mandated under Money Laundering Regulations. Don’t be offended when you are asked to produce this as your lawyer will need to have this information on file. Your Marlow conveyancing practitioner will need to see evidence of proof of funds prior to accepting any monies from you into their client account and they may also ask additional queries regarding the origin of monies.
I am purchasing my first flat in Marlow with a loan from Platform Home Loans Ltd. The developers refused to move on the price so I negotiated five thousand pounds worth of extras instead. The property agent suggested that I not inform my conveyancer about this extras as it would put at risk my loan with the lender. Is this normal?.
All lenders require a Disclosure of Incentives Form from the developer of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
Over the last few months I have been searching for a leasehold apartment up to £235,500 and identified one round the corner in Marlow I like with open areas and transport links nearby, however it's only got 49 remaining years left on the lease. There is not much else in Marlow in this price bracket, so just wondered if I would be making a mistake buying a short lease?
Should you need a home loan that many years will likely be problematic. Discount the price by the anticipated lease extension will cost if not already taken into account. If the current owner has owned the premises for a minimum of twenty four months you could ask them to start the process of the extension and pass it to you. An additional ninety years can be extended on to the existing lease term with a zero ground rent applied. You should consult your conveyancing lawyer regarding this matter.
Your search tool is useful but there are many lawyers listed near Marlow being on the bank conveyancing panel. It would be a lot more helpful if you could recommend a specific firm on the mortgage company approved panel?
We do not recommend specific Marlow firms as the right Marlow conveyancing solicitor for you depends on where your priorities lie. For example you may require a local firm with Marlow knowledge or you might be looking for the low cost conveyancing. We recommend that you speak to 3 or 4 lawyers listed before you make your choice..