Just been in touch with my conveyancing solicitor in East Cowes who conducted the legals two years ago and wanted a conveyancing costs illustration based on an identical type of house sale & purchase (a leasehold premises and a freehold premises) of almost identical values with a loan from The Royal Bank of Scotland. I am now being quoted twice the amount. Am I right to be tempted to shop around for an alternative conveyancer?
The costs illustration is slightly on the expensive side. If you shop around you could trim some of the cost by perhaps a hundred pounds. That being said, assuming were satisfied with the service the firm offered you maylive to regret choosing an an unknown conveyancer. If is important to ensure the conveyancer can act for The Royal Bank of Scotland. Do employ our search tool to select a East Cowes conveyancing firm on the The Royal Bank of Scotland conveyancing panel, which can often include conveyancing solicitors in East Cowes.
My grandson is purchasing a new build apartment in East Cowes with a mortgage from Coventry BS. His lawyer has said that there is a delay in completing the ‘Disclosure of Incentive Form’. What is this document - I have never come across this before?
The document is intended to provide information to the main parties engaged in the purchase. Therefore, it will be provided to your son’s lawyer who should be on the Coventry BS conveyancing panel as a standard part of the process, and to the surveyor when requested. The developer will be required to start the process by downloading the form and completing it. The form will therefore need to be available for the valuer at the time of his or her site visit. The form should be sent to the Coventry BS conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.
The East Cowes conveyancing firm that just started acting on my house acquisition in East Cowes have without warning closed. They were on acting for me because I had to have a firm on the Nationwide conveyancing panel and my previous East Cowes lawyer was not. I wrote them a cheque for £250 in advance. What are my options?
If you have an estate agent involved then inform them straight away so that they advise the vendors that there may be a slight delay due to reasons beyond your control. Most sellers would be sympathetic and urge their lawyer to send a new set of papers to your new solicitors. You should appoint new lawyers that are on the Nationwide conveyancing panel and notify the lender. If you have paid over any money, it will hopefully be held by the SRA as money in an intervened firm's bank accounts is transferred to the SRA. Then, the SRA or the intervention agent looks at the intervened firm's accounts to work out who the money belongs to. To claim your money you will need to contact the SRA. If the SRA cannot return money you are owed from the firm's bank accounts, or if they can only return part of the money, you can apply to the Compensation Fund for a grant. Your new solicitors should be in a position to assist.
Can I be sure that the East Cowes conveyancing solicitor on the Clydesdale panel is any good?
When it comes to conveyancing in East Cowes seeking recommendations is a good start. Before you go ahead, check if they offer a no sale no fee offer. Also, you often get what you pay for - a firm which quotes more, will often provide a better service than one advertising the lowest fees. We would always advocate that you speak with the lawyer conducting your conveyancing.
We have a mortgage agreed in principle with Skipton. East Cowes conveyancing practitioners are chosen. How long does it take for Skipton to forward the offer to the conveyancer?
There is no definitive answer here. Have Skipton conducted the valuation? Have you informed Skipton as to your lawyers' details and checked that your lawyers are on the Skipton conveyancing panel? It is not unusual for a mortgage offer to take a month to come through.
I have instructed a East Cowes conveyancing practitioner having checked that they are on the Bank of Ireland conveyancing panel. Does my lawyer arrange the survey of the property?
Bank of Ireland will need an independent valuation of the property. Your lawyer will not arrange this. Usually Bank of Ireland will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey. You may wish to consider appointing your own East Cowes surveyor to carry out a survey or prepare a home buyers report on the property. It is up to you to satisfy yourself that the property is structurally sound before you buy it. If the survey or report reveals that building work is needed, you should tell your solicitor. You may wish to renegotiate with the seller.
I've recently found out that there is a flying freehold issue on a property I put an offer in last month in what was supposed to be a quick, chain free conveyancing. East Cowes is the location of the property. Can you offer any advice?
Flying freeholds in East Cowes are not the norm but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in East Cowes you would need to get your solicitor to go through the deeds diligently. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in East Cowes may determine that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold premises.