The lawyer who dealt with my previous purchase has sent a quote for £1150 for fixed fee conveyancing in Stockton on Tees. I’m selling a purpose built property for £300,000. This sounds overpriced. Is it in excess of what I should be paying for conveyancing in Stockton on Tees?
The estimate does seem a tad overpriced. Where you are willing to spend time comparing prices you may be able to shave off some of the cost by as much as a hundred pounds. That being said, you maycome to rue opting for an an untested conveyancer. Remember to be sure that the solicitor can act for your mortgage company. You can make use of our comparison tool to select a Stockton on Tees conveyancing firm on the lender’s conveyancing panel which can often include conveyancing solicitors in Stockton on Tees.
All was ready to move into my new home in Stockton on Tees next Monday. My conveyancing practitioner now wants me to supply her with proof of content and building insurance for the property as as she informs me that she is duty bound to validate that it is in order for the lender. What risks does the mortgage company expect the insurance to cover?
Any lawyer on acting for lenders would need to check that the following risks are covered fire; lightning; aircraft; explosion; earthquake; storm; flood; escape of water or oil; riot; malicious damage; theft or attempted theft; falling trees and branches and aerials; subsidence; heave;landslip;collision;accidental damage to underground services;professional fees, demolition and site clearance costs; and public liability to anyone else. There are some other issues such as the level of excess that are set out in a lender’s Part 2 conditions. These obligations are not unique to conveyancing in Stockton on Tees.
It is a dozen years since I purchased my house in Stockton on Tees. Conveyancing solicitors have now been appointed on the sale but I am unable to locate the title documents. Is this a problem?
You need not be too concerned. Firstly the deeds may be retained by the lender or they could be in the possession of the solicitor who handled your purchase. Secondly the chances are that the title will be registered at the land registry and you will be able to establish that you are the registered owner by your conveyancing lawyers obtaining current official copies of the land registers. Most conveyancing in Stockton on Tees relates to registered property but in the unlikely event that your home is unregistered it adds to the complexity but is not insurmountable.
How do I discover of the solicitor carrying out my conveyancing in Stockton on Tees is on the bank’sconveyancing panel? I am looking to avoid the situation of having one lawyer for me and one for Godiva Mortgages Ltd thus spending £187.00 plus VAT in additional conveyancing fees.
Please do make use of the find a lender approved solicitor tool on this web page. Pick the mortgage company and type ‘Stockton on Tees’ or your location and you will see a number of lawyer located in Stockton on Tees or nearest you.
How does conveyancing in Stockton on Tees differ for new build properties?
Most buyers of new build property in Stockton on Tees come to us having been asked by the developer to sign contracts and commit to the purchase even before the residence is completed. This is because builders in Stockton on Tees typically purchase the land, 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 used to new build conveyancing in Stockton on Tees or who has acted in the same development.