Just been in touch with my conveyancing solicitor in Waltham who conducted the legals 18 months ago and wanted a conveyancing costs illustration based on an identical type of house sale & purchase (a leasehold property and a freehold property) of similar values with a loan from Lloyds TSB Bank. It looks as though am now being quoted twice the amount. Am I right to be tempted to shop around for a cheaper online property lawyer?
The charges seem a bit high. If you shop around you might get the conveyancing a bit cheaper by perhaps £125. That being said, if you were happy with the assistance the firm offered you maylive to regret choosing an an untested conveyancer. Remember to ensure the conveyancer can also act for Lloyds TSB Bank. You can make use of our search tool to choose a Waltham conveyancing firm on the Lloyds TSB Bank approved list of lawyers, which can often include conveyancing solicitors in Waltham.
My solicitor has identified a a legal deficiency with the lease for the apartment we are buying in Waltham. The seller’s lawyers have put forward defective title insurance as a solution. We are content with insurance and will pay for it. Our conveyancer has advised that he must check that the bank is happy with this solution. Are we the client or is the lender?
Regardless of the fact that you have a mortgage offer from the lender does not mean to say that the property will meet their requirements for the purposes of a mortgage. Your lawyer has to ensure that the lease has to comply with the UK Finance Lenders’ Handbook provisions. You and the lender are the client. The appropriate lender conditions have to be complied with.
Do banks and building societies provide you with an approved list of Waltham conveyancing solicitors? How do you know who is on the Bank of Ireland conveyancing panel?
Waltham conveyancing firms themselves provide us confirmation that they are on the Bank of Ireland conveyancing panel as opposed to being supplied with a list from Bank of Ireland directly.
We're in Waltham, First time buyers purchasing with a mortgage (lender is Lloyds , and our solicitor is on the Lloyds conveyancing panel). How long should the conveyancing process take?
The fact that your lawyer is on the Lloyds conveyancing panel is a help. It would almost certainly delay matters if they were not. However, no lawyer should guarantee a timeframe for your conveyancing, due to third parties outside of your control such as delays caused by lenders,conveyancing search providers or by the other side’s solicitors. The time taken is often determined by the number of parties in a chain.
Should I choose a Waltham conveyancing lawyer who is local to the property I am purchasing? An old friend can deal with the legal work but they are based a couple of hundredkilometers drive away.
The benefit of a local Waltham conveyancing practice is that you can attend the office to sign paperwork, present your ID and apply pressure on them if necessary. They will also have local knowledge which is a plus. That being said it's more important to get someone that will pull out all the stops for you. If you know people who used your friend and in the main were impressed that should outweigh using an unknown Waltham conveyancing solicitor just because they are based in the area.