We have rather pushy vendors who has suggested a exclusivity agreement with a non-refundable deposit two thousand pounds. Is it wise to enter into such agreements?
This form of preliminary agreement isn't frequently used in Dudley, conveyancers will often try and steer clients away from them as they detract from the main conveyancing focus and if you end up losing your deposit then the lawyer is left exposed. Furthermore, there is no assurance that just because the proprietor has executed an exclusivity contract they will sell to you. They may breach the agreement if they are offered a big enough financial inducement to do so because a wronged purchaser with the benefit of a exclusivitycontract will still be duty bound to establish consequential losses from the breach and these may not compare to the financial upside that your seller may obtain by breaking the contract, no matter how morally condemnable the behaviour is.
Do the Building Society Association intend to launch a search tool with a view to to identify firms on the Melton Mowbray Building Society conveyancing panel for example in Dudley?
We are not aware of any intention on the part of the BSA to develop such a search facility.
I happen to be the single recipient of my late father’s will with all property in now in my sole name, including the my former home in Dudley. The Dudley property was put into my name in November. I want to move. I do know about the Mortgage Lenders 6 month 'rule', which means that my proprietorship could be treated the same way as if I'd bought the house in November. Is the property unsalable for six months?
The Council of Mortgage Lenders’ handbook obliges solicitors to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." Technically you could be affected by that. many lenders would take a pragmatic view as this requirement chiefly exists to identify the purchase and immediately sell or the wholesaling and assigning of properties.
Is it the case that all Dudley CQS (Conveyancing Quality Scheme) solicitors are on the Leeds Building Society conveyancing panel?
Some major banks and building societies now utilise the accreditation scheme as the starting point for Panel membership such as HSBC and Santander. The Law Society’s CQS membership however is no guarantee to lender panel acceptance. Nevertheless,the Council of Mortgage Lenders have indicated that it is likely to become a pre-requisite for solicitors wishing to join their approved list of conveyancing solicitors.
We have agreed to purchase a house in Dudley. A rare aspect is that the roof has a solar panel. Coventry BS have issued a mortgage offer so presumably this is not a concern to them. Why is my solicitor raising questions about the panel?
As your lender is Coventry BS your lawyer must comply with the formal requirements set out in Section 2 of UK Finance Lenders’ Handbook for Coventry BS. The Council of Mortgage Lenders’ Handbook includes minimum provisions for solar panel roof-space leases, and property lawyers are required to report to Coventry BS where a lease fails to satisfy these conditions. The provisions relate to the installation of panels on properties countrywide and is not limited to Dudley.
I own a semi-detached Edwardian property in Dudley. Conveyancing solicitor represented me and Virgin Money. I did a free Land Registry search last week and I saw two entries: one for freehold, the second leasehold under the matching property. If a house is not a freehold shouldn't I have been informed?
You should assess the Freehold register you have again and check the Charges Register as there may be mention of a lease. The best way to be sure that you are also the registered proprietor of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Dudley and other areas of the country and poses no real issues for owners other than when they mortgage they have to account for both freehold and leasehold interests when dealing with mortgage companies. You can also question the position with your conveyancing lawyer who conducted the purchase.
In what way does the Landlord & Tenant Act 1954 impact my business premises in Dudley and how can your lawyers assist?
The 1954 Act provides a safeguard to commercial lessees, granting the legal entitlement to make a request to court for a continuation of occupancy at the end of the lease term. There are certain specified grounds where a landlord can refrain from granting a lease renewal and the rules are involved. Fees are different for commercial conveyancing. Dudley is one of our numerous locations in which our lawyers are located
My husband and I are new to the buying process - agreed a price, but the estate agent informed us that the seller will only issue a contract if we instruct their recommended lawyers as they need an ‘expedited deal’. My instinct tells me that we should use a high street conveyancer with experience of conveyancing in Dudley
It is unlikely the vendors are driving this. If they want ‘a quick sale', turning down a motivated purchaser is counter productive. Speak to the vendors direct and make the point that (a)you are keen to buy (b)you are excited to move forward, with finances in place © you have nothing to sell (d) you intend to proceed fast (e)but you are going to appoint your own,trusted Dudley conveyancing solicitors - not the ones that will provide the negotiator at the agency a commission or achieve conveyancing figures set by head office.