I need a recommendation please. First time buyer in London.... so many options, however there are many firms and solicitors that aren't taking on any new clients.
first time buyer - need a lawyer
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Further to my earlier response , there is a potential problem in just picking a firm to act for you, lenders have specific requirements on who is elibible and invariable have a panel of approved solicitors , if the firm selected isn’t on the panel then they would have to apply for appointment which under the current problems associated with Covid19 could prove time consuming and ultimately delay the processing of an application.
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They don't like sole practitioners. The mass market firms work like sausage machines, with a different team attending to each stage of the work and that isn't very satisfactory either. The ideal firm to go to is a smallish partnership of ten or so partners. Don't choose based on price because cheap can be dear where it comes to legal advice.
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Originally posted by sixunforced View PostI need a recommendation please. First time buyer in London.... so many options, however there are many firms and solicitors that aren't taking on any new clients.
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Originally posted by Samsontryn View PostWhy would any organization/corporation refuse to take new clients?
For most legal firms a new client is someone who has a pressing need for some work to be done, now.
There is a huge shortage of solicitors and other legally trained people.
Much of which is due to how much it is possible for a newly qualified solicitor to earn in the large legal firms, particularly in London.
The starting salary for a newly qualified solicitor with an international legal firm in London in 2022 can be £95k plus bonuses.
Smaller legal firms in London can't afford to pay staff that much and there is a significant trend of people moving from smaller to larger firms.When I post, I am expressing an opinion - feel free to disagree, I have been wrong before.
Please don't act on my suggestions without checking with a grown-up (ideally some kind of expert).
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Best to choose a local solicitor firm for conveyancing work ( easier to show your identity document ). You can find their adverts in the yellow pages or telephone directory at your public library .
Check out the firm's website for solicitor for property conveyancing. Give solicitor a telephone call and ask for quotation for conveyancing ( buying property with mortgage, registration at Land Registry and serving notice on freeholder for leasehold property ). Ask how many years experience the solicitor has for property conveyancing work and how busy they are ?. Ask what charges are applied if the property is withdrawn before exchange of sale contracts ?.
Make this enquiry to 3 conveyancing firms to find a favourable price.
Just realised this is an old thread , started nearly 2 years ago..
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Earlier in the OP’s I enquired where they lived as I know solicitors in various locations whom I would have no hesitation in recommending but to help I would suggest a call to TWM in Guildford, they act for several lenders and recently acted for a client purchasing in Nottingham but who was delighted with the professional manner they dealt with the conveyance, also the client himself lived in Nottingham.
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Reply to Current mortgage dilemmaby Gordon999The inflation rate at end of July has risen to 10.1%. This is bound to push up interest rates if you are re-mortgaging .
One newspaper is forecasting another rise in interest rate by BOE next month , up by 0.5% to 2.25%
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Channel: Finance & Investment Questions
18-08-2022, 09:05 AM -
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Reply to Freehold purchaseby Section20zIf you both exercise the right to buy then you would share the freehold, otherwise none (unless the freeholder informally agrees to sell to you)...
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15-08-2022, 21:15 PM -
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by landingHello
What are the advantages of freehold vs leasehold for a house (not flat)?
I can only see disadvantages in the leasehold:
- property depreciates as lease passes
- have to pay service charges and ground rent
- need to renew after several years...-
Channel: Finance & Investment Questions
12-08-2022, 00:25 AM -
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Reply to Freehold purchaseby gnvqsosI bet this is on leasehold to local authority, and they will not sell....
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15-08-2022, 18:23 PM -
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Reply to Freehold purchaseby landingThanks!
If I buy a leasehold maisonette and there is a flat above that, am I entitled to buy the freehold of both or only the share of freehold or none?-
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15-08-2022, 15:52 PM -
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Reply to Freehold purchaseby Gordon9991. If you buy a leasehold house and hold for two years, you will be qualified to make compulsory purchase of the freehold title.
2. Buying the freehold title is better than extending the lease.
3. The freehold costs will depend on the years on lease and the annual ground rent.
4. A...-
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15-08-2022, 13:07 PM -
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Reply to Freehold purchaseby doobreyAgreed. I wouldn't consider buying a leasehold house....
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12-08-2022, 12:36 PM -
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Reply to Freehold purchaseby Gordon999If you purchase a house under leasehold title, you become the leaseholder and subject to the terms of the lease. ( paying annual ground rent , building insurance and service charges etc).
But leaseholders also have right to enfranchisement ( purchase of freehold title) under the...-
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12-08-2022, 12:33 PM -
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Reply to Freehold purchaseby gnvqsosHope that is OK
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12-08-2022, 12:31 PM -
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by blinkothe current situation will have sorted itself out, in 2 to 3 years unfortunately my mortgage comes off it's fixed Jan 2023
Base rate likely to be 0.23% higher Jan 2023 worst case 0.75% in the middle 0.5% (also looking at the recent US rate movement)
My options are I think...-
Channel: Finance & Investment Questions
31-07-2022, 12:35 PM -
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