I decided to go with a high street lawyer for my conveyancing in Newmarket recently. After carefully reading the official terms of business it is apparent thatwe are liable for charges even if our purchase doesn't happen. Should I ditch them and use a web based conveyancing company promising no move no charge conveyancing in Newmarket?

It is usually a trade off in that if "No Completion No Fee" is available then the conveyancing charges will generally be higher to counteract the conveyances that abort. Please beware that such arrangements generally do not cover disbursements e.g. Newmarket conveyancing search charges.

My brother-in-law has suggested I instruct a conveyancing solicitor in Newmarket. I need to find out if they are on the Bank of Scotland approved list of lawyers. Could you or the lender confirm if they are on the panel?

You should contact your solicitor and enquire if they are on the lender panel. Alternatively you should get in touch with Bank of Scotland who may be able to confirm.

A friend informed me that in buying a property in Newmarket there may be various restrictions prohibiting external changes to the property. Is this right?

There are anumerous of properties in Newmarket which have some sort of restriction or requirement of consent to execute external changes. Part of the conveyancing in Newmarket should determine what restrictions are applicable and advising you as part of a ROT that should be sent to you.

About to purchase maisonette in Newmarket. I have received an online quote from a licenced conveyancer, which states: "There will be no charge for dealing with the Building Society if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the Nationwide 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 Newmarket conveyancer is on the Nationwide conveyancing panel.

I was told four weeks ago that my mortgage has been agreed to by Leeds Building Society. Is it usual for Leeds Building Society to only issue the offer once my solicitor in Newmarket is approved on their conveyancing panel? Leeds Building Society have asked my solicitor to see a copy of their Professional Indemnity Insurance Schedule.

A lender would not issue a mortgage until they have details of a lawyer on their panel. It can take a few weeks for Leeds Building Society to deal with your lawyer's application to be on the Leeds Building Society conveyancing panel. There's no guarantee that your solicitor will be accepted.

How does conveyancing in Newmarket differ for new build properties?

Most buyers of new build premises in Newmarket come to us having been asked by the seller to exchange contracts and commit to the purchase even before the house is completed. This is because new home sellers in Newmarket tend to buy 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 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 used to new build conveyancing in Newmarket or who has acted in the same development.

Our conveyancer has advised that he intends to complete and exchange simultaneously on the disposal of our £400,000 apartment in Newmarket in just under a week. The freeholder has quoted £324 for Certificate of Compliance, insurance certificate and 3 years service charge statements. Is it legal for a freeholder to charge an administration fee for a flat conveyance in Newmarket?

Newmarket conveyancing on leasehold maisonettes ordinarily involves administration charges levied by landlords agents :

Answering conveyancing due diligence questions Where consent is required before sale in Newmarket Copies of the building insurance and schedule Deeds of covenant upon sale Registering of the assignment of the change of lessee after a sale

Your conveyancer will have no control over the level of the charges for this information but the average costs for the information for Newmarket leasehold premises is £350. For Newmarket conveyancing transactions it is customary for the seller to pay for these costs. The landlord or their agents are under no legal obligation to answer such questions most will be willing to do so - albeit often at exorbitant prices where the fees bear little relation to the work involved. Unfortunately there is no law that requires fixed charges for administrative tasks. Neither is there any legal time frame by which they are obliged to supply answers.

Newmarket Leasehold Conveyancing - Examples of Queries before Purchasing

The answer will be important as a) areas may cause problems for the building as the communal areas may begin to deteriorate if maintenance are not paid for b) if the leaseholders have a dispute with the managing agents you will need to have complete disclosure What prohibitions are there in the Newmarket Lease? Many Newmarket leasehold flats will incur a service charge for maintenance of the building invoiced by the landlord. Should you buy the property you will have to meet this liability, usually periodically throughout the year. This could differ from a couple of hundred pounds to thousands of pounds for buildings with lifts and large common areas. There will also be a rentcharge for you to pay yearly, this is usually not a exorbitant amount, say approximately £25-£75 but you should to enquire it because on occasion it can be surprisingly expensive.