Why do I have to pay up front for my conveyancing in Bilston?

Where you are retaining lawyers for conveyancing in Bilston your lawyer will ask you place them with funds to cover the search fees. This will be the total of the cost of the conveyancing searches. When the down payment is payable against the purchase price then this will be asked for immediately prior to exchange of contracts. The final balance that is needed should be transferred shortly before completion.

The Bilston conveyancing firm that I appointed last week on my purchase in Bilston have without warning shut down. I only went with them because I had to have a lawyer on the Nationwide conveyancing panel and my preferred Bilston lawyer was not. I sent them a cheque for £250 in advance. What should be my next steps?

Assuming that you have an Estate Agent in the equation then let them know immediately so that they advise the vendors that there may be a slight delay due to the problems encountered. 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 lawyers may be able to assist.

My partner and I have arranged a further advance on our mortgage from Coventry BS as we want to carry out improvements to our house in Bilston. Are we obliged to appoint a bricks and mortar Bilston solicitor on the Coventry BS conveyancing panel to deal with the legals?

Coventry BS don't usually appoint firms on their conveyancing panel to handle such a matter. If they do require any legal work then you would need to ensure that such a lawyer was on the Coventry BS panel.

I am due to exchange contracts on my house. I had a double glazing fitted in January 2006, but did not receive a FENSA certificate or Building Regulation Certificate. My purchaser’s lender, Skipton are being pedantic. The Bilston solicitor who is on the Skipton conveyancing panel is happy to accept ‘lack of building regulation’ insurance but Skipton are insisting on a building regulation certificate. Why do Skipton have a conveyancing panel if they don't accept advice from them?

It is probably the case that Skipton have referred the matter to their valuer. The reason why Skipton may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing was correctly and safely installed. The indemnity insurance merely protects against enforcement action which is very unlikely anyway.

Intending to buy a maisonette in Bilston. I have received an online quote from a licenced conveyancer, which states: "There will be no charge for dealing with the Lender if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the Leeds Building Society conveyancing panel. I wanted to make sure it means there will be no additional fees for dealing with the mortgage.

They are simply saying that the cost for acting for the lender is included in the fee being quoted. It is worth you checking that the Bilston property lawyer is on the Leeds Building Society conveyancing panel.

How does conveyancing in Bilston differ for newly converted properties?

Most buyers of new build or newly converted property in Bilston come to us having been asked by the builder to exchange contracts and commit to the purchase even before the premises is completed. This is because builders in Bilston tend to purchase the real estate, 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 conveyancing solicitors 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 accustomed to new build conveyancing in Bilston or who has acted in the same development.

Last May I purchased a leasehold property in Bilston. Do I have any liability for service charges for periods before completion of my purchase?

Where the service charge has already been demanded from the previous owner and they have not paid you would not usually be personally liable for the arrears. However, your landlord may still be able to take action to forfeit the lease. It is an essential part of leasehold conveyancing for your conveyancer to ensure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.

If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).

Leasehold Conveyancing in Bilston - Sample of Queries before buying

Is there a share of the freehold? What restrictions are there in the Bilston Lease? On the whole the outlay for major works are not built into the service charges, although some managing agents in Bilston obliged leaseholders to pay into a reserve fund created for the specific intention of building a fund for major works.