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Author Topic: Solicitors  (Read 1813 times)

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tunnie

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Re: Solicitors
« Reply #15 on: 24 May 2010, 18:35:13 »

this one is a bit more complicated as there is a share of the freehold, as he is local and not London based i can easily walk down on my days of and see whats what!

Should get the final offer from the bank tomorrow  :)
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cem_devecioglu

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Re: Solicitors
« Reply #16 on: 24 May 2010, 18:38:22 »

Quote
Quote
Not in my expereince  :-/

Generally, solicitors fees come in at £500-£1000 for house moves - yours should be lower end, as you are buying only.

I'd be inclined to try other recommendations...  ...some estate agents and solictors are too cosy.

My quote is approx £1,500  :o

£600 + VAT purchase
£100 + VAT mortgage
£50 + VAT  stamp duty form
£40 + VAT  bank transfer administration fee
£ 200 HM Land Registry fee
£ 4 HM Land Registry search
£83 L. B. Ealing search
£52.17 Thames Water search
£41.95 Environmental search
£50 Chancel indeminty
£2 bankruptcy search
£7.10 ID verification
£0 stamp duty as first time buyer for less than £250K

 :-? :o :o

that man/woman is lucky!!

if was living here would get a bullet instead ;D ;D
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jereboam

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Re: Solicitors
« Reply #17 on: 24 May 2010, 18:45:16 »

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Once you have engaged a solicitor, the trick is to make sure they actually do something.  You absolutely need to chase them for everything, because if you don't, your case will sink to the bottom of their priority list.  This is especially important when dealing with the mortgage money - if you don't nag them, they won't tell you that they've received it, and it will sit in their account earning interest for them.  This isn't supposed to happen, but it still does.  It can be very expensive if you have any sort of bridging loan.

If you have to have a nag -- nag the secretary and get her to pass on a message -- as soon as you, the client, engages your solicitor in conversation, even about the weather, the clock will start ticking. The solicitor won't get any mortgage money before completion because the lender won't part with it before then!!!  As you are only buying and there is no sale involved the only money they will get in will be from you, in the form of deposit (ready for exchange of contracts), which they part with on exchange. The lender will transfer monies on the day of completion (maybe the day before if they are reasonable) which your solicitor will transfer straight back out again.
The fees quoted are noy just for your purchase. Acting for the mortgage company incurs fees which you also have to bear ( part of the agreement for getting the mortgage ). Some lenders even insist that you use their own solicitors for that part which racks up the fees considerably.

Luckily I have a good working relationship with my solicitors .... she signs the forms and I do the work ( mind you the last time I did that was 15 years ago --- things have probably changed since then )

"If you have to have a nag " - I've always had to nag!  As did both my son and my daughter on their recent house purchases.

"The lender will transfer monies on the day of completion which your solicitor will transfer straight back out again" - that's how it's supposed to work.  In practise, this can go wrong, as both my daughter and myself found last time round.  Different solicitors.  I can't remember the details, but the solicitor had the money and the vendor didn't in both cases.  All blamed on human error by the solicitors' clerical departments. 

I've become very wary of conveyancing - it never seems to go smoothly. :( :( :(
« Last Edit: 24 May 2010, 18:45:32 by plstewart »
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HolyCount

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Re: Solicitors
« Reply #18 on: 24 May 2010, 19:01:01 »

Quote
Quote
Quote
Once you have engaged a solicitor, the trick is to make sure they actually do something.  You absolutely need to chase them for everything, because if you don't, your case will sink to the bottom of their priority list.  This is especially important when dealing with the mortgage money - if you don't nag them, they won't tell you that they've received it, and it will sit in their account earning interest for them.  This isn't supposed to happen, but it still does.  It can be very expensive if you have any sort of bridging loan.

If you have to have a nag -- nag the secretary and get her to pass on a message -- as soon as you, the client, engages your solicitor in conversation, even about the weather, the clock will start ticking. The solicitor won't get any mortgage money before completion because the lender won't part with it before then!!!  As you are only buying and there is no sale involved the only money they will get in will be from you, in the form of deposit (ready for exchange of contracts), which they part with on exchange. The lender will transfer monies on the day of completion (maybe the day before if they are reasonable) which your solicitor will transfer straight back out again.
The fees quoted are noy just for your purchase. Acting for the mortgage company incurs fees which you also have to bear ( part of the agreement for getting the mortgage ). Some lenders even insist that you use their own solicitors for that part which racks up the fees considerably.

Luckily I have a good working relationship with my solicitors .... she signs the forms and I do the work ( mind you the last time I did that was 15 years ago --- things have probably changed since then )

"If you have to have a nag " - I've always had to nag!  As did both my son and my daughter on their recent house purchases.

"The lender will transfer monies on the day of completion which your solicitor will transfer straight back out again" - that's how it's supposed to work.  In practise, this can go wrong, as both my daughter and myself found last time round.  Different solicitors.  I can't remember the details, but the solicitor had the money and the vendor didn't in both cases.  All blamed on human error by the solicitors' clerical departments. 

I've become very wary of conveyancing - it never seems to go smoothly. :( :( :(

Yes, J, unfortunately cock-ups happen! More so in the "modern, everything yesterday" age :-?

The last few sales I did myself and the last purchase did my bit myself, but my solicitor had to do the mortgage deed herself.

Biggest rip-off, however, isn't the solicitors, it's the LA searches. £80 average around the country and all they do is press a button (as most Land Depts at LA's are fully computerised) AND it takes them 3 weeks to push it !!!!!!!
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Varche

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Re: Solicitors
« Reply #19 on: 24 May 2010, 19:20:50 »

Bl**dy solictors. Blood suckers

At least in the UK they are liable for mistakes and errors. Not so in Spain for e.g. Loads have people have bought illegal houses and have no recourse. Buyer beware. Makes my blood boil.
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