Some advice if I may. My Wool lawyer is advising me that she is duty bound toorder Wool conveyancing searches asthe firm are on the HSBCconveyancing panel. These Wool checks cost a lot of money can this be avoided?
Unfortunately both you and your lawyer have little choice here. Given that you are taking out a loan with a lender your lawyer has to comply with their conditions as set out in their version of the CML Conveyancing Handbook. Your solicitor would have previously signed the Terms and Conditions of your bank’s conveyancing panel appointment which obliges them to comply with the CML Handbook requirements . Even if you were a cash buyer you would be ill advised not to carry out Wool conveyancing searches.
How does conveyancing in Wool differ for newly converted properties?
Most buyers of new build or newly converted property in Wool come to us having been asked by the builder to exchange contracts and commit to the purchase even before the house is completed. This is because builders in Wool 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 conveyancing solicitors 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 Wool or who has acted in the same development.
I decided to have a survey completed on a house in Wool ahead of appointing conveyancers. I have been informed that there is a flying freehold element to the house. My surveyor has said that some mortgage companies may not give a loan on this type of property.
It varies from the lender to lender. Bank of Scotland has different instructions from Halifax. If you contact us we can look into this further with the relevant mortgage company. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Wool. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Wool to see if the conveyancing will be more expensive.
I was pointed in your direction by three or four local property agents in Wool to get a quote from a property lawyer using your seach tool. What’s the financial upside for Estate Agents to recommend your services over a competitor’s?
We don’t give any commission for directing people to this site. We thought it would be too underhand to pay a commission as home movers will think, ‘Why is the agent getting a kickback? Why am I not receiving any benefit too?’ So we decided to step away from that.
I am using a search engine for the words on line conveyancing in Wool it brings up many solicitorslocally. With so much choice what is the best way to find the suitable property lawyer for me?
The preferential way of finding the right conveyancer is through a personal referral, so seek the counsel of colleagues and family who have acquired a property in Wool or a respected estate agent or mortgage broker. Costs for conveyancing in Wool differ, so it's sensible to obtain a minimum of three estimates from different companies. Make sure that you clarify that the fees are fixed.