The lawyer who assisted with my previous purchase has given a fee estimate £1400 for no completion no fee conveyancing in Grahame Park. I am looking to sell a Georgian house for £175,000. This seems expensive. Is it in excess of the norm for conveyancing in Grahame Park?
The estimate does seem marginally steep. If you shop around you could get the conveyancing a bit cheaper by as much as a hundred pounds. On the other hand, you mightcome to rue choosing an an unknown lawyer. Don't forget to ensure the firm can also act for your mortgage company. You can make use of our comparison tool to select a Grahame Park conveyancing practice on the lender’s approved list of lawyers which can often include conveyancing solicitors in Grahame Park.
Some advice if I may. My Grahame Park solicitor is advising me that he is legally obliged toapply for Grahame Park conveyancing searches asthe firm are on the Santanderconveyancing panel. These Grahame Park checks cost a lot of money can this be avoided?
Unfortunately both you and your lawyer have little choice here. As you are taking a home loan with a bank your solicitor has to comply with their conditions as set out in their version of the CML Conveyancing Handbook. Your lawyer would have previously signed the Terms and Conditions of your bank’s conveyancing panel appointment which obliges them to follow the Council of Mortgage Lenders’ Handbook conditions . Even if you were a cash buyer you would be ill advised not to carry out Grahame Park conveyancing searches.
A colleague advised me that in buying a property in Grahame Park there may be various restrictions preventing external changes to a property. Is this right?
We are aware of a number of properties in Grahame Park which have some sort of restriction or requirement of consent to carry out external alterations. Part of the conveyancing in Grahame Park should determine what restrictions are applicable and advising you as part of a ROT that should be sent to you.
I am buying a property in Grahame Park. A rare aspect is that the roof has a solar panel. Santander have issued a mortgage offer so presumably this is not a concern to them. Why is my solicitor raising questions about the panel?
As your lender is Santander your lawyer must comply with the formal instructions outlined in Part two of UK Finance Lenders’ Handbook for Santander. The Council of Mortgage Lenders’ Handbook stipulates minimum provisions for solar panel roof-space leases, and property lawyers are required to report to Santander where a lease does not comply with these requirements. The conditions relate to the installation of panels on properties countrywide and is not limited to Grahame Park.
My wife and I are in the process of viewing flats in Grahame Park and I am now considering a potential offer. Should I already have a lawyer appointed at this stage? I will be getting a mortgage with Yorkshire BS.
You should start requesting conveyancing quotes from solicitors ASAP. After you have chosen your lawyer and once your offer is accepted you can instruct them to work for you and pass their contact information on to the estate agent. Given that you are seeking a mortgage with Yorkshire BS, ask your prospective lawyers if they are on the Yorkshire BS conveyancing panel otherwise they can't do the mortgage legal work.
Should my lawyer be making enquiries about flooding as part of the conveyancing in Grahame Park.
The risk of flooding is if increasing concern for lawyers dealing with homes in Grahame Park. There are those who purchase a house in Grahame Park, completely expectant that at some time, it may suffer from flooding. However, aside from the physical damage, where a property is at risk of flooding, it may be difficult to obtain a mortgage, adequate insurance cover, or sell the premises. There are steps that can be taken as part of the conveyancing process to forewarn the purchaser.
Lawyers are not best placed to impart advice on flood risk, however there are a number of searches that can be initiated by the purchaser or on a buyer’s behalf which should give them a better understanding of the risks in Grahame Park. The standard information given to a purchaser’s lawyer (where the Conveyancing Protocol is adopted) incorporates a usual inquiry of the owner to find out if the property has suffered from flooding. In the event that the premises has been flooded in past which is not disclosed by the vendor, then a purchaser could issue a claim for damages as a result of such an inaccurate response. A purchaser’s solicitors may also commission an enviro report. This should indicate whether there is a recorded flood risk. If so, further inquiries should be initiated.
I dont have enough spare money to pay a 10% deposit on my flat purchase in Grahame Park , but I am keen exchange. What can I do?
You can agree a lower deposit. Most vendors will agree to a smaller deposit or even no deposit for a first time buyer or 100% mortgage. Be aware though that if you fail to complete you will still need to hand over a minimum of 10% of the purchase price regardless of how much deposit was agreed.
You can also agree a simultaneous exchange and completion as no deposit is required for this however neither party will be tied in until completion actually takes place and it can be risky if sellers change their mind at the last second