Why do I have to pay up front for my conveyancing in Richmond?
If you are buying a property in Richmond your lawyer will ask you put them with monies to cover the the cost of the conveyancing searches. This will be the total of the cost of the conveyancing searches. If any deposit is as part of the total price then this should be needed shortly in advance of contracts are exchanged. The closing balance that is needed should be transferred a couple of days ahead of the day of completion.
It is not clear whether my bank requires a lease extension. I have telephoned my Richmond building society branch on various occasions and was told it does not impact the mortgage offer and they would lend. My Richmond conveyancing solicitor - who is on the mortgage company conveyancing panel- called to say that they refuse to lend in accordance with their UK Finance Lenders’ Handbook minimum lease term requirements. I simply don't know who is right.
Provided that the lawyer is on the mortgage company approved list, she or he must comply with the Council of Mortgage Lenders’ Handbook provisions for the bank. Unless your lawyer obtains specific confirmation in writing that the lender will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the bank to contact your lawyer in writing confirming that they will accept the number of years left on the lease.
About to purchase apartment in Richmond. I have received an online quote from a licenced conveyancer, which states: "There will be no charge for dealing with the Lender if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the TSB 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 Richmond conveyancing practitioner is on the TSB conveyancing panel.
Leeds Building Society have agreed my home loan in principle, my offer on a flat in Richmond has been agreed to, now what?
Your estate agent will want to know who your solicitors are (be sure the lawyers are on the bank’s panel). Call up Leeds Building Society or your broker and finalise any outstanding forms. Leeds Building Society will instruct a valuer who will get in contact with the estate agent or seller to book a time for the valuation to take place. Once conducted (assuming no problems) it takes on average a fortnight to get a mortgage offer. Leeds Building Society will issue the offer to you and your lawyers. The transaction will then take it’s course according the nature and complexity of the conveyancing in Richmond.
I am selling our home in Richmond and according to the buyers it appears that there is a possibility that the property was built land that was not decontaminated. Any high street Richmond conveyancer would know this is not the case. It does beg the question why the purchasers used a factory type conveyancing practice rather than a conveyancing solicitor in Richmond. Having lived in Richmond for six years we know of no issue. Is it a good idea to get in touch with our local Authority to get confirmation that there is no issue.
It sounds as though you may have a conveyancing firm already. What do they say? You must check with your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out life insurance to cover that same ailment)
Should I instruct a Richmond conveyancing lawyer based in the vicinity that I am buying? An old friend can deal with the conveyancing however her office is 200kilometers drive away.
The benefit of a local Richmond conveyancing practice is that you can pop in to execute documents, hand in your identification documents and apply pressure on them where appropriate. They will also have local knowledge which is a plus. However it's more important to get someone that will pull out all the stops for you. If other friends have instructed your friend and in the main were happy that must trump using an unknown Richmond conveyancing lawyer just because they are local.
How and when do I cover the costs of stamp duty payable for my house transaction in Richmond?
The property lawyer will fill out a Land Transaction Return Form for you during your Richmond purchase transaction for signature. On completion your conveyancer will submit your Land Transaction application to the Tax Authorities and - assuming they have the funds - pay any Stamp Duty liability on your behalf.