The sellers of the house we are looking to purchase are using a conveyancing firm in Ramsey who has insisted on a lock out agreement with a deposit 10k. Are such agreements the norm for Ramsey conveyancing transactions?
This kind of preliminary agreement is unusual in Ramsey, conveyancers are not keen on them as they detract from focusing on the main conveyancing focus and if you end up having your deposit forfeited then the lawyer is left exposed. In addition, there is no certainty that just because the proprietor has entered into an exclusivity agreement they will complete the sale with you. They may be in contravention of the agreement if they are offered a large enough incentive to do so because a wronged claimant with the benefit of a lockoutcontract will still be obliged show losses as a consequence of the breach and these may not compare to the extra amount that the owner may gain by reneging on the contract, however morally reprehensible it undoubtedly is.
My brother-in-law has suggested I instruct a conveyancing solicitor in Ramsey. I need to find out if they are on the Halifax approved list of lawyers. Can you assist?
The first thing you should do is contact your lawyer and ask them whether they can act for the lender. Otherwise please get in touch with Halifax who may be able to assist.
I am the sole recipient of my late father’s estate and I have everything in my name alone, including the house in Ramsey. Conveyancing formalities meant that the Land Registry date was in May. I plan to dispose of the property. I understand that there is a CML 6 month 'rule', which means that my property ownership will be treated the same way as though I had purchased the property in May. 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." 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 primarily exists to capture subsales or the flipping of property.
Completion of my purchase has taken place for my property in Ramsey. Conveyancing was satisfactory but I feel I should register my dissatisfaction about the lender. How does one go about formally complaining?
Almost all banks and building societies have complaints procedures. Your first point of contact should be one of the lender’s branches or the Customer Care Team at head office. Ordinarily complaints to a lender are sorted out very quickly. 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.
Nottingham have agreed my mortgage in principle, my offer on a house in Ramsey has been agreed to, now what?
The estate agent will need to be advised as to your lawyer's details (make sure the conveyancers are on the bank’s panel). Call up Nottingham or your financial adviser and complete any appropriate documentation. Nottingham will instruct a valuer who will get in touch with the estate agent or seller to schedule a time for the valuation to take place. Once carried out (assuming no problems) it takes approximately a week for the mortgage offer to be issued. Nottingham will send the offer to you and your conveyancing practitioners. The transaction will then take it’s course according the nature and complexity of the conveyancing in Ramsey.
I require expedited conveyancing in Ramsey as I am under an ultimatum to complete in less than 3 weeks. Thankfully I do not need a mortgage. Is it possible to decline from having conveyancing searches to save fees and time?
If.Given you are are a cash purchaser you are at free not to have searches carried out although no solicitor would advise that you don't. Drawing on our experience of conveyancing in Ramsey the following are examples of what can show up and therefore impact future saleability: Enforcement Notices, Overdue Charges, Overdue Grants, Road Schemes,...
I decided to have a survey done on a house in Ramsey ahead of instructing solicitors. I have been advised that there is a flying freehold element to the property. Our surveyor advised that some lenders may not grant a loan on a flying freehold home.
It varies from the lender to lender. Bank of Scotland has different instructions from Halifax. If you call us we can check with the appropriate mortgage company. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Ramsey. Conveyancing will be smoother if you use a solicitor in Ramsey especially if they are familiar with such properties in Ramsey.
I'm refinancing my existing property to a buy to let loan with Bank of Scotland and intend to use the remaining equity as a deposit on a second house. The area we are looking at is Ramsey. Will your lawyers be able to act for the two banks and link together the transactions?
Make use of our comparison tool on this site to check that the lawyers are approved by both mortgage companies. Having checked that they are your lawyer will be able to tie up the two deals but you should have a chat with you solicitor and make clear your expectations and needs.