Just contacted my conveyancing solicitor in Eccleston who completed the legal work 18 months ago requesting a conveyancing quote based on an identical type of house move (a leasehold premises and a freehold premises) of almost identical values with a home loan from Chelsea Building Society. I am now being quoted double. Better the devil I know or should I try and find an alternative property lawyer?
The estimate does seem a tad steep. Where you are prepared to spend time scrutinising prices you could shave off some of the expense by as much as £100 plus VAT. On the other hand, if you were content with the service the firm provided you couldcome to regret opting for an a cheaper conveyancer. Don't forget to be sure the firm can represent Chelsea Building Society. You can use our search tool to find a Eccleston conveyancing firm on the Chelsea Building Society approved list of lawyers, which can often include conveyancing solicitors in Eccleston.
My partner and I are getting closer to an exchange on a house in Eccleston and my parents have sent the ten percent deposit to my conveyancing practitioner. I am now told that as the deposit has been received from someone other than me my conveyancing practitioner needs to disclose this to my bank. Apparently, in also acting for the lender he must inform them that the balance of the purchase price is not just from me. I informed the bank concerning my parents' contribution when I applied for the home loan, so is it really appropriate for this now to be an issue?
The lawyer is legally required to check with mortgage company to make sure that they know that the balance of the purchase price is not from your own funds. Your solicitor can only disclose this to your lender if you permit them to, failing which, your lawyer must cease to continue acting.
What happens if my lawyer’s firm is suspended from the Co-operative Conveyancing panel ahead of completing my conveyancing in Eccleston?
First, this is a very rare occurrence. In most cases even where a law firm is removed off of a panel the lender would allow the completion to go ahead as the lender would appreciate the difficulties that they would place you in if you have to instruct a new solicitor days before completion. In a worst case scenario where the lender insists that you instruct a new firm then it is possible for a very good lawyer to expedite the conveyancing albeit that you may pay a significant premium for this. The analogous situation is where a buyer instructs a lawyer, exchanges contracts and the law firm is shut down by a regulator such as the SRA. Again, in this situation you can find lawyers who can troubleshoot their way to bring the conveyancing to a satisfactory conclusion - albeit at a cost.
It has been five months since my purchase conveyancing in Eccleston completed. I have checked the Land Registry website which shows that I paid £200,000 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 residence 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.
At what point do I incur the Stamp Duty Land Tax chargeable for my Eccleston house purchase?
The solicitor will complete a stamp duty return for you as part of your Eccleston conveyancing transaction for signature. After completion your solicitor will submit the STL Return Form to the Tax Authorities and - as long as they have the money - discharge any Stamp Duty due for you.