The sellers of the home we are looking to purchase hired a conveyancing solicitor in Clerkenwell who has recommended a preliminary agreement with a down payment 6,000. Are such agreements sensible?
There are two main drawbacks with signing a lock out agreement (occasionally referred to as an exclusivity agreement) is that it diverts attention away from making progress with the conveyancing work, so unless it requires limited or no negotiation then it may turn out to be a cause of frustration and delay. It is not strongly advocated amongst Clerkenwell conveyancing solicitors as a result. The other main concern is the extent of the remedies available - an aggrieved purchaser should not expect to secure injunctive relief to prevent the vendor selling to another buyer, so the only remedy open via the agreement will be the reimbursement of abortive costs and, in restricted scenarios, the additional payment of damages.
We are looking to buy a flat and need a conveyancing solicitor in Clerkenwell who is on the Nationwide conveyancing panel. Could you point me in the right direction as regards a solicitor?
Our service is limited to being a directory service for firms who wish to be listed as being on the approved conveyancing panel for Nationwide . We don't recommend any particular firms conducting conveyancing in Clerkenwell.
I am buying a flat and require a conveyancing solicitor in Clerkenwell who is on the Leeds Building Society approved. Can you recommend a local firm?
Our service is limited to being a directory service for firms who wish to listed as being on the approved conveyancing panel for Leeds Building Society in certain locations such as Clerkenwell. We dont recommend any particular firm.
My bid for a property was accepted at auction in Clerkenwell. Conveyancing is required. What are my next steps?
Given that you have now for in every practical sense signed on the dotted line you must instruct a conveyancing lawyer quickly as you are facing a pending a fixed date to complete the conveyancing. All auction property will ordinarily have a bespoke legal pack. This will likely include most,if not all of the documents that your lawyer will need. In the case of leasehold premises the auction pack may provide a copy of the lease, management information and a sellers leasehold information form and associated conveyancing documentation relating to a leasehold property. You must give this to the solicitor instructed by you as soon as possible. You also need to ensure that that you have the requisite funding in place to complete the transaction on the set completion date.
My wife and I have organised a further advance on our home loan from Lloyds as we want to conduct renovations to our house in Clerkenwell. Do we need to choose a local Clerkenwell solicitor on the Lloyds conveyancing panel to deal with the legals?
Lloyds do not ordinarily appoint firms on their approved list of lawyers to deal with the formalities. If they do require any legal work then you would need to ensure that such a lawyer was on the Lloyds conveyancing panel.
I have instructed a Clerkenwell solicitor having made sure that they are on the UBS conveyancing panel. Does my lawyer arrange the survey of the property?
UBS will need an independent valuation of the property. Your lawyer will not arrange this. Usually UBS will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey. Your solicitor will not organise the survey but they may be able to put you in touch with a local one that they recommend. RICS offers a find a surveyor service (just google it) where you can search for a qualified surveyor by your Clerkenwell postcode. As you are getting a mortgage with UBS, you could contact them to see if they have a list of approved surveyors in Clerkenwell.
How do I use the search tool to choose a conveyancing solicitor in Clerkenwell on the panel for my lender?
Step one is to pick a bank such as Barclays , The Royal Bank of Scotland or Aldermore then choose your location for example Clerkenwell. Conveyancing organisations in Clerkenwell and beyond will then be listed.
I am employed by a busy estate agency in Clerkenwell where we have experienced a number of leasehold sales jeopardised due to leases having less than 80 years remaining. I have received contradictory information from local Clerkenwell conveyancing solicitors. Please can you shed some light as to whether the vendor of a flat can commence the lease extension process for the purchaser on completion of the sale?
Provided that the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to kick-start the lease extension process and assign the benefit of the notice to the purchaser. This means that the proposed purchaser need not have to sit tight for 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed prior to, or simultaneously with completion of the sale.
Alternatively, it may be possible to agree the lease extension with the freeholder either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the purchaser.
Having spent months of correspondence we simply can't agree with our landlord on how much the lease extension should cost for our flat in Clerkenwell. Can we issue an application to the Residential Property Tribunal Service?
Absolutely. We can put you in touch with a Clerkenwell conveyancing firm who can help.
An example of a Lease Extension case for a Clerkenwell property is Flat 89 Trinity Court Grays Inn Road in February 2013. the Tribunal found that the premium to be paid by the tenant on the grant of a new lease, in accordance with section 56 and Schedule 13 to the Leasehold Reform, Housing and Urban Development Act 1993 should be £36,229. This case was in relation to 1 flat. The remaining number of years on the lease was 66.8 years.