The solicitor who helped my former purchase has quoted £1400 for freehold conveyancing in Woburn. I’m hoping to downsize from a purpose built house for £150,000. Are these estimated fees excessive? Is it above the norm for conveyancing in Woburn?
The estimate does seem marginally steep. Where you are prepared to spend time contrasting fee on a like for like basis you could trim some of the cost by say £125. On the other hand, you mightlive to rue choosing an an untested conveyancer. Remember to check that the conveyancer can represent your bank. Do use our search tool to choose a Woburn conveyancing company on the lender’s approved list of lawyers which can often include conveyancing solicitors in Woburn.
We are about to exchange on the purchase of a house in Woburn but as a result of damage from a small fire at the property I have was able negotiate compensation from the current proprietors of £2k in the form of a adjustment in the price. This was going to be addressed as part of the conveyancing process however HSBC will not permit this. Should they have been notified?
Any solicitor being on a HSBC conveyancing panel is obliged to inform HSBC of any amendments to the purchase price. If you prohibit your property lawyer to report the reduction to HSBC then they would have to discontinue acting for you. In addition, HSBC and you would have to appoint a new solicitor for your conveyancing in Woburn.
Various web forums that I have come across warn that are the primary cause of delay in Woburn house deals. Is this right?
The Council of Property Search Organisations (CoPSO) released findings of research by MoveWithUs that conveyancing searches do not feature amongst the common causes of hindrances during the legal transfer of property. Local searches are unlikely to be the root cause of holding up conveyancing in Woburn.
How does conveyancing in Woburn differ for newly converted properties?
Most buyers of new build residence in Woburn approach us having been asked by the housebuilder to exchange contracts and commit to the purchase even before the house is built. This is because builders in Woburn tend to buy the real estate, 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 conveyancers 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 Woburn or who has acted in the same development.
Yesterday I discovered that there is a flying freehold element on a house I put an offer in a fortnight ago in what should have been a quick, chain free conveyancing. Woburn is where the house is located. Can you offer any guidance?
Flying freeholds in Woburn are unusual but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Woburn you must be sure that your lawyer goes through the deeds diligently. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Woburn may determine that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold premises.