We chose a local firm for our conveyancing in Brundall recently. Going through the Terms and Conditions it is apparent thatwe are liable for costs even if the movedoes not proceed. Would I be best advised to instruct an internet solicitor practice offering no-sale-no-fee conveyancing in Brundall?
It is usually a trade off in that if "No Completion No Fee" is available then the fee levels will tend to be be higher to offset those transactions that do not proceed. Please beware that these offerings rarely cover expenses such as Brundall conveyancing search costs.
We are nearing an exchange on a property in Brundall and my parents have sent the 10% deposit to my conveyancing practitioner. I am now told that as the deposit has been received from someone other than me my property lawyer needs to disclose this to my lender. Apparently, in also acting for the mortgage company he must inform them that the balance of the purchase price is not just from me. I disclosed to the mortgage company about my parents' contribution when I applied for the home loan, so is it really appropriate for him to raise this?
The conveyancing practitioner is duty bound to check with the bank to make sure that they are aware that the balance of the purchase price is not from your own funds. The solicitor can only report this to your mortgage company if you agree, failing which, your lawyer must cease to continue acting.
This question may be naive but I am new to the home moving as a first time buyer of a garden flat in Brundall. Do I receive the keys to the premises on completion from my lawyer? If this is the case, I will find a local conveyancing solicitor in Brundall?
On the day of completion you do not need to go to the conveyancers office in Brundall. Your solicitors will transfer the completion advance to the owner’s lawyers, and shortly after the monies have arrived, you should be invited to receive the keys from the Estate Agents and start moving into the property. This tends to happen early afternoon.
I'm at the point of viewing apartments in Brundall and I am about to put in an offer. Should I already have a solicitor in place at this point? I intend to finance via a home loan with Lloyds.
You should start requesting conveyancing estimates from solicitors ASAP. Once you decide who you want to use and once your offer is accepted you can instruct them to work for you and forward their details on to the EA. Given that you are taking out a mortgage with Lloyds, make sure you remember to check that your lawyer is on the Lloyds conveyancing panel.
After what seems like an age I have had an offer on a maisonette in Brundall accepted, the sellers do however have an associated purchase. The owners have placed an offer on somewhere, but it’s not yet agreed to, and have viewings of other apartments in the pipeline. I have instructed a local conveyancing solicitor in Brundall. What should be my next step? At what stage do I apply for the mortgage with Coventry BS?
It is usual to have concerns where there is a chain as you are unlikely to want to incur expenses too early (home loan application is in the region of £1k, then survey, Brundall conveyancing search fees, etc). The first thing to do is ensure that your property lawyer is on the Coventry BS conveyancing panel. Regarding the subsequent steps this very much dictated by the circumstances of your transaction, motivation for the property and on the state of the market. In a hot market the majority of home buyers would apply for the mortgage with Coventry BS and pay for the valuation and only if it was satisfactory would they request their lawyer to move forward with the conveyancing in Brundall.
Various internet forums that I have come across warn that are a common cause of obstruction in Brundall conveyancing transactions. Is this right?
The Council of Property Search Organisations (CoPSO) released conclusions of a review by MoveWithUs that conveyancing searches do not figure within the top 10 causes of hindrances in the conveyancing process. Local searches are not likely to feature in any slowing down conveyancing in Brundall.
five months have elapsed since my purchase conveyancing in Brundall completed. I have checked the Land Registry website which shows that I paid £150,000 when infact I paid £180,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the residence from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.