Recently contacted my conveyancing lawyer in South Molton who acted for me two years ago asking for a conveyancing quote based on an identical type of house sale & purchase (a leasehold premises and a freehold premises) of almost identical values with a mortgage from HSBC Bank. I am now being quoted twice the amount. Am I right to be tempted to shop around for an alternative conveyancer?
The estimate does seem a tad overpriced. If you are prepared to invest time contrasting prices you may be able to decrease the fees slightly by as much as a hundred pounds. On the other hand, if you were pleased with the conveyancing the firm provided you maylive to regret choosing an a cheaper lawyer. If is important to ensure the conveyancer can represent HSBC Bank. Do use our search tool to locate a South Molton conveyancing firm on the HSBC Bank approved list of lawyers, which can often include conveyancing solicitors in South Molton.
I happen to be the sole beneficiary of my late mum's estate with all property in now in my sole name, including the house in South Molton. The South Molton property was put into my name in August. I plan to dispose of the property. I understand that there is a Mortgage Lenders 6 month 'rule', which means that my property ownership will be considered the same way as though I had purchased the property in August. Is the property unsalable for six months?
The CML handbook obliges conveyancers to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." Technically you might be affected by that. many mortgage companies would take a practical view as this clause principally exists to pick up on subsales or the quick reselling of property.
is it true that all South Molton solicitors 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 conveyancing panel they would need to be overseen by the SRA. Many mortgage companies do allow licenced conveyancers on their panel and in such a situation the practice would be governed by the CLC.
I am expecting a DIP from Lloyds this week so we can work out what to offer on a property we like as otherwise we are dependent on web based calculators (which aren't taking into account credit checks etc). Do Lloyds recommend any South Molton solicitors on the Lloyds conveyancing panel, or is it better to go independently?
You will need to appoint South Molton solicitors independently although you'll need to choose one on the Lloyds conveyancing panel. The solicitor represents both you and Lloyds through the process.
Will our lawyer be making enquiries regarding flooding during the conveyancing in South Molton.
Flooding is a growing risk for solicitors carrying out conveyancing in South Molton. There are those who buy a property in South Molton, completely expectant that at some time, it may be flooded. However, aside from the physical damage, if a house is at risk of flooding, it may be difficult to get a mortgage, adequate building insurance, or sell the premises. There are steps that can be taken as part of the conveyancing process to forewarn the buyer.
Solicitors are not best placed to impart advice on flood risk, however there are a various checks that may be initiated by the purchaser or by their solicitors which should give them a better appreciation of the risks in South Molton. The conventional set of information supplied to a purchaser’s lawyer (where the Conveyancing Protocol is adopted) incorporates a usual question of the seller to discover if the premises has ever been flooded. In the event that the property has been flooded in past which is not disclosed by the vendor, then a buyer may bring a legal claim for losses resulting from an inaccurate reply. A purchaser’s solicitors should also conduct an enviro search. This should indicate whether there is any known flood risk. If so, further inquiries will need to be made.
How does conveyancing in South Molton differ for newly converted properties?
Most buyers of new build property in South Molton contact us having been asked by the developer to sign contracts and commit to the purchase even before the property is finished. This is because builders in South Molton typically purchase the real estate, 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 property lawyers 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 accustomed to new build conveyancing in South Molton or who has acted in the same development.
As co-executor for the estate of my uncle I am selling a property in Monmouth but reside in South Molton. My lawyer (based 260 kilometers awayhas requested that I sign a statutory declaration before the transaction finalising. Can you recommend a conveyancing practitioner in South Molton to attest this legal document for me?
strictly speaking you are not likely to need to have the documents attested by a conveyancing solicitor. Ordinarily any notary public or solicitor will suffice regardless of whether they are South Molton based