No it's freehold.
The nervous wait to exchange....
- Thread starter noj
- Start date
Soldato
Seems like a good thread to ask in. Can anyone recommend a soliciter skilled in new builds and Help to Buy? I'm reserving a property on Monday so will need one .
A quick Google shows a company called 'SAM Conveyancing' with good reviews and a quote from them came out at £1750 all up for their fees. Having no yard stick I have no idea if that's good or not. Help!
Nobody local to you? Family or friend recommendations?
Then mid priced. You can probably find it around 300 cheaper. No idea if mine are good they're slow to get back In touch but I'm around 1800 but that includes £100 for gifted deposit and £350 for leasehold.
No, I don't really know anyone who owns a house or if they do they don't have good things to say about their solicitor.
Good thing for this internet malarky eh!
Soldato
House buying and selling should be much quicker than it currently is. It is a VERY stressful process indeed. All parties should have time restraints put in place. Lets hope that one day it will become a smoother process. Its very much hit and miss these days.
Soldato
No, I don't really know anyone who owns a house or if they do they don't have good things to say about their solicitor.
Good thing for this internet malarky eh!
Ok, i see.
Cant say in the 30 years i have bought and sold i have had good solicitors! Finding a good one is like finding hens teeth! Lol
We're ready to rock and roll.
Our buyers are ready to rock and roll.
Our seller's solicitor hasn't provided any paperwork to our solicitor yet…
It's been four weeks since the offer was accepted and it seems like nothing has happened from their end.
The estate agent tried to bully us into using that solicitor when we made the offer because "they are local and can move much quicker than the bigger firms".
So frustrating and there's nothing we can do about it.
Our buyers are ready to rock and roll.
Our seller's solicitor hasn't provided any paperwork to our solicitor yet…
It's been four weeks since the offer was accepted and it seems like nothing has happened from their end.
The estate agent tried to bully us into using that solicitor when we made the offer because "they are local and can move much quicker than the bigger firms".
So frustrating and there's nothing we can do about it.
Haha indeed, a lot of sectors seem to be a mine field in finding good/competent suppliers. Even the most highly reviewed can turn out to be a nightmare .
Soldato
Just pulled out of a house purchase. Just didnt sit right with me. Had doubts. Supposed to have a survey on it today. Cancelled that and surveyor agreed to hold payment on account for when i find somewhere else.
Soldato
Just shows how these firms who offer super cheap conveyancing make their money. A base fee of £400 sure sounds attractive until they add things like that on.. £100 for gifted deposit! It's one extra letter to deal with which, if they've got a half decent system, is a copy and paste job!
Ye
It's annoying, the entire housing system is so screwed in england. Far less so in Scotland.
Yep and when you add it all up they all came out around £1800 for doing sod all really. Then a few really expensive at over 2.5k. but 95% of the quotes where all pretty much identical once you actually added on the extras.
It's annoying, the entire housing system is so screwed in england. Far less so in Scotland.
Although I do think it's fairly cheeky to charge £100 for this, it is not a case of just sending a letter, for residential property transactions, if using a donor, we have to complete client due diligence, which involves all the identity checks, online checks, reviewing this, possibly sending a letter to obtain a declaration of solvency, responding to queries etc.
Of course this can sometimes be a breeze, the donor has the correct documentation, certified it correctly and can provide proof of funds, often though this is not a case, I was on the phone for 30 minutes earlier talking to an elderly donor as to why I need evidence of how the funds have come to be, what we can accept and how she can provide it to us.
Soldato
Same in Wales. Needs a big shake up all round
But you don't actually do the checks, you spend like 30seconds checking the paper work. All the I'd has to be signed by either postoffice or lawyer to say it's them, the gifter fills in the forms etc.but then all convencying seems to be minutes and charge large sums.
Soldato
If you think its particularly bad value for money then do it yourself
I know 1 person who did, many years ago before a lot of the current legislation, eg proof of funds.
He said, never again
His profession : Company barrister
https://www.homewardlegal.co.uk/blog/diy-conveyancing-fact-you-can-do-it-yourself
Soldato
You don't have to try and big up the amount of work to me, its my job as well
It's a letter and identity checks, very rarely anything more.
Soldato
While its true for the gifted deposit part, its very far from the truth for the majority of the conveyancing process. I'm lucky to see less than 7-8 hours work on a typical conveyancing file and when it comes to it, because of fixed fees, its a terrible recovery rate. And my hourly rate isn't even high compared to some!
Talking of minutes for large sums, what about estate agents? That can't be more than a couple of hours work including photos, viewings and conversations yet people still seem more than happy to pay 1%+VAT for some reason..
I ended up going with the solicitors that were recommended to me by the developers agent. They came in a whopping £700 cheaper and even when I queried something like a gifted deposit (as I had seen it mentioned here) she had this to say:
"We do not make an additional charge for dealing with gifted deposits and doing the necessary work in this respect, it is part of the fee quotes. Lenders however have different requirements and the lender may require an insolvency indemnity policy which is approximately £100.00. ID checking/Bankruptcy checking is £2+vat if required".
So, I was quite happy with that. Just thought I would post it here as it may clear up the £100 fee from some solicitors for this.
"We do not make an additional charge for dealing with gifted deposits and doing the necessary work in this respect, it is part of the fee quotes. Lenders however have different requirements and the lender may require an insolvency indemnity policy which is approximately £100.00. ID checking/Bankruptcy checking is £2+vat if required".
So, I was quite happy with that. Just thought I would post it here as it may clear up the £100 fee from some solicitors for this.