We have very pushy vendors who has insisted on a preliminary agreement with a payment of 5k. Are such agreements sensible?
There are two main drawbacks with executing a lock out contract (occasionally known as a shut-out contract) is that it can distract from moving forward with the conveyancing process, so unless it requires little or no negotiation then it may transpire to be a hindrance. It is not particularly popular by Low Moor conveyancing practitioners as a result. A supplemental issue is the extent of the remedies available - a jilted buyer is extremely unlikely to win an injunctive ruling by a court to prevent the vendor disposing of the property to another buyer, so the only remedy available under the agreement will be the recovery of abortive costs and, in rare circumstances, the extra payment of damages.
I own a freehold house in Low Moor but nevertheless pay rent, why is this and what is this?
It is rare for properties in Low Moor and has limited impact for conveyancing in Low Moor but some freehold properties in England (particularly common in North West England) pay an annual sum known as a Chief Rent or a Rentcharge to a third party who has no other legal interest in the land.
Rentcharge payments are usually between £2.00 and £5.00 per year. Rentcharges date back many centuries, but the Rent Charge Act 1977 barred the creation of new rentcharges from 1977 onwards.
Previous rentcharges can now be extinguished by making a lump sum payment under the Act. Any rentcharges that are still in existence after 2037 will be extinguished.
Is it correct that all Low Moor CQS (Conveyancing Quality Scheme) solicitors are on the Yorkshire BS conveyancing list of approved practices?
It is true that some lenders now make use of the accreditation scheme as the starting point for Panel approval such as HSBC and Santander. CQS accreditation however gives no guarantee to lender panel acceptance. That being said,the Council of Mortgage Lenders have indicated that it is likely to become a pre-requisite for solicitors wishing to remain on their approved list of conveyancing solicitors.
We expect to receive a DIP from Kent Reliance this week so we know how much we could potentially offer as otherwise we are dependent on web based calculators (which aren't taking into account credit checks etc). Do Kent Reliance recommend any Low Moor solicitors on the Kent Reliance conveyancing panel, or is it better to find our own lawyer?
You will need to appoint Low Moor solicitors independently although you'll need to choose one on the Kent Reliance conveyancing panel. The solicitor represents both you and Kent Reliance through the process.
I recently had an offer agreed on an apartment in Low Moor. My mortgage broker suggested a solicitor. I paid an upfront payment of £200. Not long after, the lawyer contacted me sheepishly admitting that they were not on the RBS conveyancing panel. Am I right in thinking that I should be due a refund?
You should be able to recover this from the law firm if they were not on the RBS panel. They should have asked at the outset which lender you were obtaining a mortgage with. An important lesson to readers of this site is to check that the lawyers are on the appropriate lender panel.
Is it necessary to take out insurance to address the risk of chancel repairs when acquiring a property in Low Moor?
Unless a previous purchase of the premises completed post 12 October 2013 you may assume that lawyers conducting conveyancing in Low Moor to continue to recommend a chancel search and or insurance against a claim.
My brother has urged me to use his lawyers for conveyancing in Low Moor. Should I choose my own solicitor?
There are no two ways about it the ideal way to find a conveyancing solicitor is to get recommendations from friends or relatives who have experience in using the solicitor that you are contemplating using.
Are the Low Moor conveyancing lawyers identified as being on the bank conveyancing panel, together with their details provided by the lender?
Low Moor firms and firms carrying out conveyancing in Low Moor themselves provide us confirmation that they are on the bank conveyancing panel as opposed to being supplied with a list from the lender directly.