Is there a reason why leasehold purchase conveyancing in Somerset costs more?
Somerset leasehold properties involve far more paperwork than a freehold purchase, and therefore takes more time to examine and advise upon.Conveyancing will involve the lease having to be checked which is usually a lengthy document, queries raised to ensure that the covenants and conditions have been observed. If it is a flat there will be a management company in existence and the accounts of this will need to be checked and enquiries raised to ensure it is operating efficiently and that all monies due have been paid by the Seller to the company and if not ensuring that money is paid up to date or the appropriate undertakings obtained.
When researching moneysavingexpert.com for an affordable lawyer in Somerset, most post that I must use a CQS kitemarked solicitor. Can you explain what CQS is?
The Law Society's Conveyancing Quality Scheme is the recognised quality mark for legal experts in home ownership transfers, trusted by some of the UK's leading mortgage companies. Four years ago the Conveyancing Quality Scheme was officially recognised by the Building Societies Association (BSA). The scheme does not cover licenced conveyancers. Somerset is one of the many areas in England and Wales where there are Accredited solicitors.
How does conveyancing in Somerset differ for new build properties?
Most buyers of new build property in Somerset come to us having been asked by the builder to sign contracts and commit to the purchase even before the residence is ready to move into. This is because developers in Somerset typically buy the site, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are used to new build conveyancing in Somerset or who has acted in the same development.
We're first time buyers - agreed a price, yet the property agent advised that the seller will only issue a contract if we use the agent's recommended conveyancers as they are insisting on an ‘expedited deal’. We would rather use a high street conveyancer used to conveyancing in Somerset
We suspect that the seller is not behind this ultimatum. Should the vendor require ‘a quick sale', turning down a genuine buyer is not the way to achieve this. Bypass the agents and go straight to the owners and make the point that (a)you are keen to buy (b)you are excited to move forward, with mortgage lined up © you are unencumbered (d) you wish to move quickly (e)but you intend to use your preferred Somerset conveyancing firm - as opposed tothose that will earn their negotiator at the agency a referral fee or hit his conveyancing targets set by corporate headquarters.
I am buying a house mortgage free. I have provided conveyancer with 2 separate proof of photo ID, bank statement, numerous utility bills. Now he wants a copy from a probate lawyer stating that the funds are legitimate and that it has come from inheritance and not dealing E's in Ibiza.
In today’s world you will not be able to complete any Somerset conveyancing transaction without first providing evidence of your identity to your lawyers. This usually takes the form of a either your passport or driving licence and a utility bill. Remember if you are providing your driving licence as evidence of ID it must be both the paper part and photo card part, one is not acceptable without the other. Proof of your source of funds is required under Money Laundering Regulations.