The owners have rather brash sellers who has recommended a preliminary agreement with a payment of 5k. Are such agreements sensible?
There are two main concerns with entering into any lock out agreement (occasionally termed a shut-out contract) is that it can distract from progressing with the conveyancing transaction itself, so unless it requires little or no negotiation then it may turn out to be a cause of frustration and delay. It is not particularly popular amongst Croxley Green conveyancing solicitors for this reason. A supplemental negative is the extent of the remedies available - an aggrieved buyer is very unlikely to win injunctive relief to stop the vendor selling to an alternative purchaser, so the only remedy available under the agreement will be the reimbursement of wasted charges and, in restricted situations, the additional payment of damages.
In what way does my ID and proof of funds have anything to do with my conveyancing in Croxley Green? What am I being asked for?
Croxley Green conveyancing solicitors as well as nationwide property lawyers accross the UK have an obligation under Anti-terror and anti-money-laundering rules to check the identity of any client with a view to satisfy themselves that clients are who they say they are.
Conveyancing clients will need to produce two forms of certified identification; proof of identity (typically a Passport or Driving Licence) and evidence of address (typically a Bank Statement no older than three months).
Proof of the origin of funds is also necessary in compliance with the money laundering regulations as lawyers are mandated to investigate that the money you are using to acquire a property (be it the exchange deposit or the full purchase price where you are a cash purchaser) has come from an acceptable source (such as employment savings) and is not the product of illegitimate activity.
I am looking to buy a property and need a conveyancing solicitor in Croxley Green who is on the Britannia approved. Can you recommend a local conveyancing firm?
Our service is limited to being a directory service for firms who wish to listed as being on the approved conveyancing panel for Britannia in certain locations such as Croxley Green. We dont recommend any particular firm.
I'm purchasing my first flat in Croxley Green with a mortgage from Halifax. The developers would not move on the amount so I negotiated five thousand pounds worth of fixtures and fittings instead. The sale representative advised me not reveal to my lawyer about this deal as it could impact my loan with the bank. Is this normal?.
All lenders require a Disclosure of Incentives Form from the developer of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
Due to the advice of my in-laws I had a survey completed on a property in Croxley Green ahead of instructing conveyancers. I have been advised that there is a flying freehold aspect to the house. Our surveyor has said that some lenders will not grant a mortgage on such a premises.
It depends who your proposed lender is. Lloyds has different instructions for example to Nationwide. Should you wish to call us we can investigate further via the appropriate bank. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Croxley Green. Conveyancing will be smoother if you use a solicitor in Croxley Green especially if they are accustomed to such properties in Croxley Green.
Would local authority permission be necessary to change a house into multiple appartments in Croxley Green? This has taken place to a property next door to my home in Croxley Green and was ignorant of the conversion until the works were finished.
Planning consent is necessary for converting a single dwelling in Croxley Green into apartments but possibly not for converting back to single dwelling-house so, simply put, yes,a it is needed.