We have rather brash sellers who has suggested a exclusivity contract with a down payment two thousand pounds. Is it wise to enter into such agreements?
This form of agreement isn't common in Cowfold, conveyancers will often encourage clients away from them as they divert attention from the main conveyancing focus and if you end up having your deposit forfeited then the solicitor at best left with an upset client and at worst a litigious one. Furthermore, there is no guarantee that just because the vendor has executed a lock out contract they will complete the sale with you. They may breach the agreement if they are offered a big enough incentive to do so because a wronged buyer with the benefit of a exclusivitycontract will still be obliged establish consequential losses from the breach and these may not equalise the extra amount that your seller may secure by breaching the agreement, no matter how morally shameful it undoubtedly is.
In what way does my ID and proof of funds have anything to do with my conveyancing in Cowfold? Why is this being asked of me?
You are right in these requests have nothing to do with conveyancing in Cowfold. However these days you can not complete any conveyancing deal without first submitting evidence of your identity. This usually takes the form of a either your passport or driving licence as well as a bank statement. Remember if you are providing your driving licence as evidence of ID it needs to be both the paper section as well as the photo card part, one is not satisfactory in the absence of the other.
Proof of your source of money is necessary under Money Laundering Regulations. Please do not be offended when when this is requested of you as your conveyancing solicitor will need to retain this information on record. Your Cowfold conveyancing lawyer will need to see evidence of proof of funds prior to accepting any funds from you into their client account and they may also ask further questions concerning the origin of funds.
I happen to be the sole beneficiary of my late grandmother’s will with all property in now in my sole name, including the house in Cowfold. The Cowfold property was put into my name in June. I plan to dispose of the property. I understand that there is a CML six month 'rule', which means that my proprietorship will be regarded the same way as if I'd bought the property in June. Will no one buy the property for half a year?
The Council of Mortgage Lenders’ handbook mandates solicitors to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." By the strict wording you could be impacted by that. How practical a view mortgage companies take of it, depend on the bank as this requirement is principally there to capture subsales or the flipping of properties.
The formalities of my remortgage has taken place for my property in Cowfold. Conveyancing was a necessary evil but I feel I should register my dissatisfaction about the lender. How does one go about formally complaining?
All lenders have complaints procedures. Your first port of call should be one of the lender’s branches or the Customer Services Team at head office. We understand that complaints to a lender are sorted out effectively and efficiently. However if you are not satisfied that the matter is not resolved you can write to Financial Ombudsman Service with full details of your complaint.
Having digested plenty of house buying guides, I note that it is considered advisable to get your house surveyed prior to buying it. When I asked my local Cowfold solicitor - who is on the Lloyds conveyancing panel - on this she said they don't do this and I need to contract an independent surveyor. is that correct?
Lloyds will need an independent valuation of the property. Your lawyer will not arrange this. Usually Lloyds 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 property lawyer 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 Cowfold postcode. As you are getting a mortgage with Lloyds, you could contact them to see if they have a list of approved surveyors in Cowfold.
Over the last few months I have been searching for a ground for flat up to £195,000 and identified one near me in Cowfold I like with amenity areas and transport links nearby, the downside is that it only has 61 remaining years left on the lease. I can't really find anything else in Cowfold suitable, so just wondered if I would be making a grave error purchasing a lease with such few years left?
Should you require a home loan that many years may be an issue. Reduce the price by the expected lease extension will cost if not already taken into account. If the current proprietor has owned the property for a minimum of 2 years you could request that they start the process of the extension and pass it to you. You can add 90 years to the existing lease and have £0 ground rent by law. You should speak to your conveyancing solicitor about this matter.
I was pointed in your direction by two or three local selling agents in Cowfold to select a property lawyer on your site. Is there a financial advantage for Estate Agents to offer your services rather than another?
We refuse to give any referral fee for pointing buyers and sellers our way. We found it would be just too difficult to pay a commission because home movers will think, ‘Why is the agent getting a kickback? Why aren’t I receiving any benefit too?’ So we decided to step away from that.
I am contemplating appointing a web based conveyancer rather than a Cowfold conveyancing firm. Any advice?
There are advantages of being able to pop in to a local Cowfold conveyancing solicitor for instance
- signing documents on short notice
- often being able to see someone face-to-face can make a significant difference, particularly for non-standard house moves
- the ability to complain if things are not going as expected
When checking estimates, look out for hidden extras. The majority decent Cowfold high street solicitors give an all-inclusive price. Many online companies seem to offer cheap prices, but have hidden 'extras' in the fine print.