I was referred a conveyancer who has quoted £1700 for no move no fee conveyancing in Booker. I am selling a purpose built house for £200,000. Is this expensive? Is it in excess of the average fee for conveyancing in Booker?
The charges are a bit high. If you shop around you could get the conveyancing a bit cheaper by say a hundred pounds. That being said, you couldcome to rue opting for an an unknown conveyancer. Remember to enquire the solicitor can also act for your bank. Do employ our search tool to find a Booker conveyancing company on the lender’s approved list of lawyers which can often include conveyancing solicitors in Booker.
What does my ID and proof of funds have anything to do with my conveyancing in Booker? What am I being asked for?
Booker conveyancing solicitors and indeed property lawyers accross the UK have a duty under Anti-terror and anti-money-laundering rules to verify the identity of any client with a view to satisfy themselves that clients are who they say they are.
Conveyancing clients will need to provide two forms of certified ID; proof of ID (usually a Passport or Driving Licence) and evidence of address (typically a Utility Bill less than 3 months old).
Confirmation of source of funds is also required under the money laundering statutes as lawyers are obliged to check that the money you are using to purchase a property (be it the exchange deposit or the total purchase monies if you are a cash purchaser) has originated from legitimate source (such as an inheritance) and is not the fruits of illegitimate activity.
This question may be naive but I am unexperienced as a 1st time purchaser of a two bedroom flat in Booker. Do I pick up the keys to the house on the completion date from my solicitor? If this is the case, I will find a High Street conveyancing solicitor in Booker?
On the day of completion you do not need to go to the conveyancers office in Booker. Conveyancing lawyers for you will transfer the purchase money to the vendor’s solicitors, and shortly after the monies have arrived, you will be called to collect the keys from the property Agents and start moving into the property. This tends to happen early afternoon.
The mortgage over my property is with Bank of Ireland for my property in Booker. Conveyancing has been completed a year ago. Should I wish to rent out the flat and do not currently have a buy-to-let mortgage do I need to remortgage to a BTL mortgage or inform Bank of Ireland?
Bank of Ireland must be informed of your intention before renting your property as this is likely to be a breach of Bank of Ireland’s mortgage conditions. In many cases banks or building societies will allow you to rent out your former home without needing to switch to a buy-to-let mortgage but some lenders will add a surcharge to your mortgage rate to reflect the higher risk. You should contact Bank of Ireland directly. It should not be necessary to do this via a Bank of Ireland conveyancing panel firm.
Virgin Money have agreed my mortgage in principle, my bid on a house in Booker has been accepted, now what?
The estate agent will need to be advised as to your solicitor's details (be sure the solicitors are on the bank’s approved list). Telephone Virgin Money or the broker and finish off any relevant documentation. Virgin Money will sellect a valuer who will get in contact with the selling agent or owners to arrange an appointment. Once carried out (assuming no problems) it takes approximately a week for the mortgage offer to be issued. Virgin Money will send the offer to you and your lawyers. The transaction will then take it’s course according the nature and complexity of the conveyancing in Booker.
I need some expedited conveyancing in Booker as I am under pressure to exchange contracts within one month. A mortgage is not required. Is it possible to escape the need for conveyancing searches to save fees and time?
If.Given you are are a mortgage free purchaser you are at free not to have searches carried out although no conveyancer would suggest that you don't. Drawing on years of experience of conveyancing in Booker the following are examples of issues that can arise and therefore impact the marketability of the property: Enforcement Notices, Outstanding Fees, Overdue Grants, Unadopted Roads,...
How does conveyancing in Booker differ for new build properties?
Most buyers of new build or newly converted property in Booker contact us having been asked by the builder to exchange contracts and commit to the purchase even before the premises is constructed. This is because builders in Booker typically acquire 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 property lawyers 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 Booker or who has acted in the same development.