The solicitor who helped my previous purchase has given a fee estimate just over a thousand pound for freehold conveyancing in Belsize Park. I am looking to sell a newly refurbished property for £225,000. Is this expensive? Is it above the norm for conveyancing in Belsize Park?
The estimate does seem marginally overpriced. If you shop around you might get the conveyancing a bit cheaper by as much as £125. That being said, you maycome to regret choosing an an untested solicitor. Remember to check the conveyancer can represent your lender. Do employ our search tool to choose a Belsize Park conveyancing company on the lender’s approved list of lawyers which can often include conveyancing solicitors in Belsize Park.
I am only a couple days away from an exchange on a flat in Belsize Park and my mum and dad have sent the 10% deposit to my conveyancer. I am now told that as the deposit has not arrived from me my conveyancing practitioner needs to disclose this to my mortgage company. Apparently, in also acting for the mortgage company he must advise them that the balance of the purchase price is coming from anyone other than me. I disclosed to the mortgage company regarding my parents' contribution when I applied for the home loan, so is it really necessary for this now to delay the deal?
Your lawyer is legally required to check with mortgage company to make sure that they know that the balance of the purchase price is not from your own resources. The solicitor can only notify this to your bank if you permit them to, failing which, your lawyer must cease to continue acting.
Are there restrictive covenants that are commonly identified as part of conveyancing in Belsize Park?
Covenants that are restrictive in nature can be picked up when reviewing land registry title as part of the process of conveyancing in Belsize Park. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
How does conveyancing in Belsize Park differ for newly converted properties?
Most buyers of new build or newly converted property in Belsize Park contact us having been asked by the developer to exchange contracts and commit to the purchase even before the property is built. This is because new home sellers in Belsize Park 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 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 Belsize Park or who has acted in the same development.
My father has suggested that I instruct his conveyancers in Belsize Park. Should I choose my own solicitor?
There are no two ways about it it’s preferable to select a conveyancing solicitor is to seek recommendations from friends or family who have actually experience in using the conveyancer that you are contemplating using.