Recently been in touch with my conveyancing solicitor in South Wimbledon who conducted the legals 18 months ago requesting a conveyancing estimate based on an identical type of home move (a leasehold property and a freehold premises) of almost identical values with a loan from National Westminster Bank. It looks as though am now being charged double. Better the devil I know or should I seek out a cheaper online firm of conveyancing solicitor?
The estimate fees appear a little high. If you are content to expend time scrutinising charges you could get the conveyancing a bit cheaper by say a hundred pounds. On the other hand, assuming were content with the legal work the firm provided you maylive to regret choosing an an untested solicitor. Remember to be sure the solicitor can act for National Westminster Bank. You can employ our search tool to find a South Wimbledon conveyancing firm on the National Westminster Bank member panel, which can often include conveyancing solicitors in South Wimbledon.
Why do I have to pay up front when it comes to conveyancing in South Wimbledon?
If you are buying a property in South Wimbledon your solicitor will ask you place them with monies to cover the search fees. Ordinarily this is needed to cover the fees of the conveyancing searches. When the down payment is as part of the total price then this should be needed shortly before contracts are exchanged. Any further balance that is due will be payable shortly before completion.
My stepmother advised me that in purchasing a property in South Wimbledon there could be various restrictions prohibiting external alterations to the property. Is this right?
There are anumerous of properties in South Wimbledon which have some sort of restriction or requirement of consent to carry out external alterations. Part of the conveyancing in South Wimbledon should determine what restrictions are applicable and advising you as part of a ROT that should be sent to you.
We are getting a further advance on our mortgage from Barclays as we want to conduct a loft conversion to our home in South Wimbledon. Are we obliged to appoint a bricks and mortar South Wimbledon solicitor on the Barclays conveyancing panel to deal with the legals?
Barclays don't usually instruct a member of their conveyancing panel to handle such a matter. If they do require any legal work then you would need to ensure that such a lawyer was on the Barclays list.
I was told four weeks ago that my mortgage has been agreed to by Coventry BS. Is it usual for Coventry BS to only issue the offer once my solicitor in South Wimbledon is approved on their conveyancing panel? Coventry BS have asked my solicitor to see a copy of their Professional Indemnity Insurance Schedule.
A lender would not issue an offer until they have details of a lawyer on their panel. It can take a few weeks for Coventry BS to deal with your lawyer's application to be on the Coventry BS conveyancing panel. There's no guarantee that your solicitor will be accepted.
How does conveyancing in South Wimbledon differ for newly converted properties?
Most buyers of new build premises in South Wimbledon come to us having been asked by the developer to exchange contracts and commit to the purchase even before the property is ready to move into. This is because house builders in South Wimbledon typically acquire 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 used to new build conveyancing in South Wimbledon or who has acted in the same development.
I opted to have a survey done on a house in South Wimbledon in advance of appointing conveyancers. I have been advised that there is a flying freehold overhang to the property. Our surveyor has said that some lenders will not issue a loan on a flying freehold house.
It depends who your proposed lender is. Bank of Scotland has different requirements for example to Nationwide. Should you wish to call us we can look into this further with the appropriate bank. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in South Wimbledon. Conveyancing will be smoother if you use a solicitor in South Wimbledon especially if they are familiar with such properties in South Wimbledon.