I'm in the process of transferring my current homeowner loan to a Buy to Let Nationwide Building Society mortgage. I have been informed by my broker that I need a lawyer as part of the process. I spoke to my previous Highbridge conveyancing solicitor who dealt with the legals when I originally purchased the house. The fee calculation sent of £470 has shocked me as its a remortgage than a sale or purchase.
The charges are a little high. Where you are content to spend time scrutinising costs you could shave off some of the expense by as much as £100 plus VAT. On the other hand, providing that you were satisfied with the legal work the firm gave you mightlive to regret opting for an an unknown lawyer. If is important to enquire that the solicitor can act for Nationwide Building Society. You can use our search tool to locate a Highbridge conveyancing firm on the Nationwide Building Society approved list of lawyers, which can often include conveyancing solicitors in Highbridge.
I am getting closer to an exchange on a flat in Highbridge and my parents have transferred the 10% deposit to my lawyer. I am now told that as the deposit has not come from me my property lawyer needs to disclose this to my bank. 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 informed the bank about my parents' contribution when I applied for the mortgage, so is it really appropriate for him to raise this?
The conveyancing practitioner is legally required to check with the bank to make sure that they understand that the balance of the purchase price is not from your own resources. The solicitor can only report this to your lender if you permit them to, failing which, your lawyer must cease to continue acting.
How can we tell if a Highbridge conveyancing solicitor on the RBS panel is any good?
When it comes to conveyancing in Highbridge getting recommendations is a sensible 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 recommend that you speak with the lawyer handling your transaction.
I have paid off my mortgage with UBS. I assume I don't need a Highbridge solicitor on the UBS panel to discharge the mortgage at the Land Registry. Am I right?
If you have finished paying off your UBS mortgage, they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the UBS mortgage from the register. UBS, and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:
- but are not moving to another property
- where UBS has sent the Land Registry the discharge electronically, and
- UBS has instructed the Land Registry to do so
I am currently in the process of buying my council flat in Highbridge. I have a mortgage offer with Coventry BS. Conveyancing is new to me. Can I proceed without a solicitor easily? I think we can but we keep being told I should use one. Any advice?
It is not advisable to proceed with a house purchase without a solicitor. The council's solicitor are not acting for you. You need a solicitor for a number reasons. One of which is to verify what plans the Council have for repairs and refurbishment for the next five years. Many leaseholders have been stung for contributions of thousands of pounds. In any event, if you are getting a mortgage with Coventry BS, you will need to appoint a solicitor on the Coventry BS conveyancing panel.
In surfing the internet for the words conveyancing in Highbridge it reveals many property lawyerslocally. With so much choice what is the best way to find the suitable conveyancing solicitor for purchase transaction?
The ideal way of finding a suitable conveyancer is via personal recommendation, so enquire of friends and family who have bought a property in Highbridge or a reputable estate agent or financial adviser. Costs for conveyancing in Highbridge vary, so it's sensible to obtain at least four quotes from varying types of property lawyers. Make sure that you know that the costs are guaranteed not to rise.
I have today had an offer accepted on a leasehold flat in Highbridge and the mortgage adviser that we are using suggested his solicitor. He quoted nine hundred pounds including VAT and disbursements. Does this sound reasonable?
Don't just go on one estimate. One should obtain like-for-like quotes for your conveyancing in Highbridge. Then pick one that you trust and just as important, is on the approved panel of the bank that you are sourcing your mortgage from.