We chose a high street firm for our conveyancing in Preston today. Upon checking the Terms it is apparent thatI am on the hook for charges even where the transaction does not complete. Should I go with them or use an on-line lawyer offering no move no charge conveyancing in Preston?
It is usually ‘give and take’ in that if "No Sale No Fee" is available then the conveyancing charges will generally be uplifted to counteract the conveyances that fail to complete. Also remember that these promotions tend not to protect you from expenses such your Preston conveyancing search charges.
My husband and I are purchasing a newly built duplex in Preston and my lawyer is advising me that she is duty bound to the bank to reveal incentives from the developer. The Estate Agents are hassling me to sign contracts and I don't want to prolong deal. is my lawyer playing by the book?
You should not exchange unless you have been advised to do so by your conveyancing practitioner. A precondition to being on a bank panel is to comply with the UK Finance Lenders’ Handbook requirements. The CML Conveyancing Handbook requires that your lawyer have the appropriate Disclosure of Incentive form completed by the developer and accepted by your lender.
At what point will exchange of contracts happen for sale conveyancing in Preston and am I required to attend the conveyancers branch?
If you are local to one of the conveyancing solicitors in Preston you are invited in to sign contracts. However, the lender approved solicitors we recommend supply a countrywide conveyancing service and provide just as diligent and professional a job for you when dealing with you electronically. The signing of the contract is not when everything is set in stone. A signed contract is necessary for the firm to officially exchange when the time is right, which is ordinarily shortly after signing. The exchange process is nowadays normally dealt with by telephone and can be very rapid, although where an extended "chain" is involved, since the process requires the relevant party's solicitor (not necessarily a conveyancing solicitor in Preston)to be in the office available at the end of the phone to exchange contracts.
is it true that all Preston solicitor firms on the Bank of Ireland conveyancing panel are regulated by the SRA?
As solicitors, in order to be on the Bank of Ireland approved list of solicitors they would need to be overseen by the Solicitors Regulatory Authority. Some lenders do list licenced conveyancers on their panel and in that case the practice would be regulated by the Council of Licensed Conveyancers.
I'm at the point of looking at apartments in Preston and I am now considering a potential offer. Is it too early to have a solicitor in place? I will be getting a mortgage with Aldermore.
It would be prudent to start your search sooner rather than later. After you have chosen your lawyer and once your offer is accepted you can instruct them to work for you and forward their contact information on to the estate agent. As you are seeking a mortgage with Aldermore, ask your prospective lawyers if they are on the Aldermore conveyancing panel otherwise they can't do the mortgage legal work.
I recently had an offer agreed on an apartment in Preston. My mortgage broker suggested a conveyancer. I paid an advanced payment of £175. A couple of days later, the conveyancer contacted me to say that they were not on the Coventry BS conveyancing panel. Am I right in thinking that I should be due a refund?
You should be able to recover this from the law firm if they were not on the Coventry BS panel. They should have asked at the outset which lender you were obtaining a mortgage with. An important lesson to readers of this site is to check that the lawyers are on the appropriate lender panel.
It has been 3 months since my purchase conveyancing in Preston concluded. I have checked the Land Registry site which shows that I paid £175,000 when infact I paid £160,000. 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 asset 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.