I am in the market for a low cost conveyancer. Should I go for for an online conveyancer rather than a high street Norfolk conveyancing lawyer?
Existing third party relationships is an important consideration when choosing conveyancing solicitors. Norfolk law firms often have long term relationships with mortgage brokers and agents, local authorities, surveyors and other conveyancing firms meaning the whole process is going to be much smoother for you. Hosting a wealth of experience in the local area also helps too.
My wife and I are nearing an exchange on a flat in Norfolk and my parents have transferred the ten percent deposit to my property lawyer. I am now informed that as the deposit has been sent from someone other than me my conveyancing practitioner needs to disclose this to my lender. Apparently, in also acting for the lender he must inform them that the balance of the purchase price is coming from anyone other than me. I disclosed to the lender concerning my parents' contribution when I applied for the home loan, so is it really necessary for this now to hold matters up?
The conveyancer is obliged to check with lender to ensure that they understand that the balance of the purchase price is not from your own funds. Your solicitor can only notify this to your bank if you permit them to, failing which, your lawyer must cease to continue acting.
Can you help - my lawyer says that flying freehold insurance is needed on my purchase. What is the level of cover for Norfolk conveyancing?
The right level of flying freehold indemnity insurance should be dictated by who your lender. It would differ for example between Nationwide Building Society and Coventry Building Society. Conveyancing solicitors as opposed to members of the public take out such policies.
When it comes to mortgage companies such as TSB, do Norfolk conveyancing practitioners have to pay a fee to be on the list of approved solicitors?
We are not aware of any lender fees to register on their list of approved firms, although some do levy an administration charge to deal with the processing of the conveyancing panel submission.
We had instructed conveyancers located in Norfolk on the Yorkshire BS solicitor panel. They are now charging me an additional amount for dealing with the Yorkshire BS mortgage. Is this a supplemental conveyancing fee set by Yorkshire BS?
As unfair as it may seem, as long as it’s in their Terms of Engagement or Quote then yes your solicitor can charge a fee for this. The charge is not set by Yorkshire BS but by your Norfolk lawyer. Plenty of firms on the Yorkshire BS panel will charge an ‘acting for lender’ fee and others do not.
Just acquired a terraced house in Norfolk , how long should it take for the Land Registry to register the transfer to my name? My Norfolk conveyancing solicitor works at snail pace, so I want to be certain the registration is dealt with.
There is nothing unique about conveyancing in Norfolk registration formalities. As opposed to being determined by geographic area, timescales can adjust depending on the party submitting the application, whether it is in order and if the Land registry must send notices to any other persons or bodies. At present approximately 80% of submission are fully dealt with in less than three weeks but occasionally there can be extensive hold-ups. Registration occurs once the purchaser has moved in to the property therefore post completion formalities is not usually primary concern yet if there is a degree of urgency associated with the registration then you or your conveyancer could contact the land registry and explain the circumstances.
Am I right to be suspicious that brokers that I am dealing with are suggesting an online conveyancing firm as opposed to a local Norfolk conveyancing company?
As with lots of professional services, often referrals from connections can be very helpful. Yet there are many people with a keen interest in a conveyancing transaction; estate agents, financial adviser and lenders may put forward lawyers to instruct. Sometimes these conveyancers might be known to one of the organisations as being good in their field, but sometimes there might be a financial incentive behind the endorsement. You are at liberty to appoint your own conveyancer. Don't forget that some lenders specify a panel list of law firms you are obliged to use for the lender related work in your transaction.