We have very pushy vendors who has recommended a lock out contract with a down payment of 5k. Are such agreements sensible?
There are two main downsides with entering into any lock out agreement (also termed a no-shop agreement) is that it takes away the focus from moving forward with the conveyancing transaction itself, so in the absence of it needing minimal or no negotiation then it may turn out to be a cause of frustration and delay. It is not particularly popular amongst Chipping Barnet conveyancing solicitors as a result. A supplemental issue is the extent of the remedies available - an aggrieved buyer should not expect to secure injunctive relief to prevent the owner selling to another buyer, so the only remedy available under the contract will be the reimbursement of wasted costs and, in rare scenarios, the extra payment of damages.
In researching mumsnet.com for a cheap lawyer in Chipping Barnet, many comment that I should look for a CQS kitemarked lawyer. What is CQS?
The Conveyancing Quality Scheme (CQS) provides a recognised quality standard for residential conveyancing practices issued by the Law Society. Membership achievement establishes a level of credibility for member firms with stakeholders (regulators, lenders, insurers and consumers) based upon: * the integrity of the senior responsible officer and other key conveyancing staff * the firm's adherence to good practice management standards * compliance with best practice conveyancing processes via the scheme protocol Membership covers numerous firms who carry out conveyancing in Chipping Barnet.
It is not clear whether my mortgage offer requires a lease extension. I have called my Chipping Barnet bank branch on a couple of occasions and was told they are content with the situation and they will lend. My Chipping Barnet conveyancing solicitor - who is on the bank conveyancing panel- telephoned to say that they would not lend based on their specific requirements. Who do I believe?
Provided that the lawyer is on the lender approved list, she or he must adhere to the CML Handbook specifications for the lender. Unless your lawyer obtains specific confirmation in writing that the bank 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 remaining.
I recently had an offer accepted on an apartment in Chipping Barnet. My mortgage broker pressured me to appoint their conveyancing practitioner. I paid an advanced payment of £225. Not long after, the solicitor called me sheepishly admitting that they were not on the TSB conveyancing panel. Am I right in thinking that I should be due a refund?
You should be able to recover this from the law firm if they were not on the TSB panel. They should have asked at the outset which lender you were obtaining a mortgage with. An important lesson to readers of this site is to check that the lawyers are on the appropriate lender panel.
Intending to buy a maisonette in Chipping Barnet. I have received an online quote from a licenced conveyancer, which states: "There will be no charge for dealing with the Building Society if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the UBS 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 Chipping Barnet property lawyer is on the UBS conveyancing panel.
What will a local search reveal regarding the property I am purchasing in Chipping Barnet?
Chipping Barnet conveyancing often commences with the submitting local authority searches directly from your local Authority or through a personal search company for instance Searches UK The local search is essential in every Chipping Barnet conveyancing purchase; that is if you don’t want any unpleasant surprises after you move into your property. The search will supply information on, amongst other things, details on planning applications applicable to the property (whether granted or refused), building control history, any enforcement action, restrictions on permitted development, nearby road schemes, contaminated land and radon gas; in all a total of 13 subject sections.
Are there restrictive covenants that are commonly picked up during conveyancing in Chipping Barnet?
Restrictive covenants can be picked up when reviewing land registry title as part of the legal transfer of property in Chipping Barnet. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
What does commercial conveyancing in Chipping Barnet cover?
Commercial conveyancing in Chipping Barnet covers a broad range of advice, offered by regulated solicitors, relating to business property. For example, this type of conveyancing can cover the sale or purchase of freehold business premises or, more commonly, the transfer of existing leases or the drafting of new leasing arrangements. Commercial conveyancing solicitors can also offer advice on the sale of business assets, commercial loans and the termination of leases.