We are purchasing a flat in Lacock. It might be a silly question but how we can trust a solicitor? On completion day we have to deposit funds into their account. What protection do we have from them run away with our deposit?
Be assured that all money in a Solicitors client account is 100% safe, and even if your Solicitor ran off with it, the Law Society would reimburse you fully.
We had appointed conveyancing lawyers with offices in Lacock on the Yorkshire BS solicitor panel. They have just invoiced me a further amount for the legal aspects of the Yorkshire BS mortgage. Is this an additional conveyancing fee specified by Yorkshire BS?
Unfortunately, so long as it is in their Terms and Conditions or Quote then yes your property lawyer may charge a fee for this. This charge is not dictated by Yorkshire BS but by your Lacock conveyancing practitioner. Numerous firms on the Yorkshire BS panel will levy an ‘acting for lender’ fee and others do not.
I am expecting a OIP from Nottingham this week so we can work out what to offer on a property we like as otherwise we are dependent on web based calculators (which aren't taking into account credit checks etc). Do Nottingham recommend any Lacock solicitors on the Nottingham conveyancing panel, or is it better to find our own lawyer?
You will need to appoint Lacock solicitors independently although you'll need to choose one on the Nottingham conveyancing panel. The solicitor represents both you and Nottingham through the process.
Due to the encouragement of my in-laws I had a survey completed on a property in Lacock prior to instructing lawyers. I have been advised that there is a flying freehold overhang to the house. My surveyor advised that some lenders may not grant a loan on such a premises.
It depends who your proposed lender is. HSBC has different instructions for example to Halifax. Should you wish to call us we can look into this further via the appropriate mortgage company. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Lacock. Conveyancing may be slightly more expensive based on your lender's requirements.
I was pointed in your direction by three or four local selling agents in Lacock to get a quote from a property lawyer on your site. Is there a financial inducement for Estate Agents to promote your lawyers ahead of alternative conveyancing organisations?
We don’t give any financial incentive for sending work in our direction. We found it would be just too difficult a fee because a client could think, ‘How come the agent getting a kickback? Why am I not getting any benefit too?’ So we decided to step away from that.
We're first time buyers - had an offer accepted, yet the estate agent informed us that the vendor will only move forward if we appoint their chosen solicitors as they are insisting on an ‘expedited deal’. Our preferred option is to instruct a family conveyancer who is accustomed to conveyancing in Lacock
We suspect that the seller is unaware of this ultimatum. If they want ‘a quick sale', alienating a serious buyer is likely to cause more damage than good. Speak to the owners direct and explain that (a)you are keen to buy (b)you are ready to go, with mortgage lined up © you do not need to sell (d) you intend to proceed fast (e)however you are going to use your preferred Lacock conveyancing lawyers - not the ones that will give their negotiator at the agency a commission or achieve conveyancing figures set by head office.
I work for a busy estate agent office in Lacock where we have experienced a number of leasehold sales derailed due to leases having less than 80 years remaining. I have received conflicting advice from local Lacock conveyancing firms. Could you shed some light as to whether the vendor of a flat can commence the lease extension formalities for the buyer?
As long as the seller has been the owner 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. The benefit of this is that the buyer need not have to wait 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 at the same time as completion of the sale.
Alternatively, it may be possible to extend the lease informally by agreement with the landlord 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 buyer.
Lacock Conveyancing for Leasehold Flats - Sample of Questions you should consider Prior to Purchasing
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What is the yearly maintenance fee and ground rent? How many years remain on the lease? Best to be warned if window replacement or some other major work is due shortly that will be shared between the tenants and will dramatically impact the level of the maintenance charges or necessitate a specific payment.
I need to find a lender panel solicitor in Lacock. Can you assist?
It is not clear why you need a Lacock panel solicitor but in any event, if you can not find one on our search tool you will need to speak directly to the lender to find out which solicitors in Lacock are on their panel . If you do find such a firm in Lacock not listed please direct them to our site to list. After all the cost is only one £1 a month