Our family solicitor has quoted £1700 for no sale no fee conveyancing in Downend. I’m hoping to downsize from a modern property for £175,000. Is this overpriced? Is it in excess of what I should be paying for conveyancing in Downend?
The quote is slightly on the expensive side. If you are content to spend time contrasting costs you might shave off some of the expense by say £125. That being said, you maylive to regret opting for an an unknown solicitor. If is important to be sure the firm can also act for your bank. You can employ our search tool to select a Downend conveyancing firm on the lender’s conveyancing panel which can often include conveyancing solicitors in Downend.
Can you help? My Downend solicitor is assuring me that he has toconduct Downend conveyancing searches stemming from the fact thatthe firm are on the Virgin Moneyconveyancing panel. Is this really necessary?
You have limited options available to you. Given that you are taking out a loan with a bank your lawyer has to comply with their conditions as set out in their version of the CML Conveyancing Handbook. Your conveyancer would have previously signed the Terms and Conditions of your lender’s conveyancing panel appointment which obliges them to comply with the Council of Mortgage Lenders’ Handbook specifications . Even if you were a cash buyer you would be ill advised not to carry out Downend conveyancing searches.
Is it necessary to take out insurance to address the risk of chancel repairs when buying a house in Downend?
Unless a prior acquisition of the house took place post 12 October 2013 you may assume that lawyers carrying out conveyancing in Downend to continue to recommend a chancel search and or insurance against a claim.
How does conveyancing in Downend differ for newly converted properties?
Most buyers of new build property in Downend come to us having been asked by the developer to exchange contracts and commit to the purchase even before the residence is constructed. This is because house builders in Downend typically buy the site, 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 Downend or who has acted in the same development.
I have been on the look out for a flat up to £235,500 and found one close by in Downend I like with amenity areas and railway links in the vicinity, however it's only got 49 years unexpired on the lease. I can't really find anything else in Downend in this price bracket, so just wondered if I would be making a grave error purchasing a short lease?
If you require a home loan that many years will be problematic. Reduce the offer by the anticipated lease extension will cost if it has not already been discounted. If the current owner has owned the premises for at least twenty four months you could ask them to start the process of the extension and then assign it to you. You can add 90 years to the current lease and have £0 ground rent by law. You should speak to your conveyancing lawyer concerning this matter.