The vendors of the house we are purchasing have instructed a conveyancing firm in Trentham who has suggested a lock out agreement with a payment 6,000. Are such agreements sensible?
Exclusivity agreements are contracts binding a property vendor and purchaser granting the buyer exclusive rights to the sale of the property within an agreed time frame. Essentially, a lock out is a document specifying that you should be issued with a contract at a later date being the main conveyancing contract. It tends to be used for buyer protection though in some cases, the proprietor may enjoy an upside from such agreements as well. There are various positives and negatives to using an agreement but you should to check with your solicitor but beware that it may end up incurring extra in conveyancing charges. For this these contracts are rare when it comes to conveyancing in Trentham.
My Solicitor in Trentham is not listed on the Godiva Mortgages Ltd Approved Panel. Is it possible for me to continue with my prefered solicitor notwithstanding that they are excluded from the Godiva Mortgages Ltd panel of approved conveyancing solicitors?
The limited options available to you here include:
- Carry on with your preferred Trentham lawyers but Godiva Mortgages Ltd will need to retain a conveyancer on their panel. This will result in additional total conveyancing charges as well as result in delays.
- Get an alternative practitioner to act in the conveyancing, remembering to check they are Persuade your solicitor to do everything within their powers to join the Godiva Mortgages Ltd conveyancing panel
My solicitor has informed me that absentee landlord insurance is necessary on my purchase. What is the typical level of cover needed for conveyancing in Trentham?
The right level of absentee landlord indemnity insurance should be dictated by who your lender. It would differ for example between Santander and The Mortgage Works. Conveyancing lawyers as opposed to members of the public take out such insurances.
We had chosen solicitors based in Trentham on the Bank of Ireland solicitor approved list. They are now charging me a separate sum for the legal aspects of the Bank of Ireland mortgage. Is this a supplemental conveyancing fee set by Bank of Ireland?
As unfair as it may appear, as long as it’s in their Terms and Conditions or Quote then yes your solicitor is entitled to charge a fee for this. This fee is not dictated by Bank of Ireland but by your Trentham conveyancer. Numerous firms on the Bank of Ireland panel will quote an ‘acting for lender’ fee and others do not.
After shopping around on the internet I have found a Trentham solicitor having made sure that they are on the UBS conveyancing panel. Does my lawyer arrange the survey of the property?
UBS will need an independent valuation of the property. Your lawyer will not arrange this. Usually UBS will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey. Your conveyancing practitioner will not organise the survey but they may be able to put you in touch with a local one that they recommend. RICS offers a find a surveyor service (just google it) where you can search for a qualified surveyor by your Trentham postcode. As you are getting a mortgage with UBS, you could contact them to see if they have a list of approved surveyors in Trentham.
I appreciate that there are debates on Chancel Insurance on online forums. Do I need this when buying a residence in Trentham? or I am told that there is a law dating back centuries that could mean that house owners living in a parish church boundary may be liable to pay for repairs towards the chancel within the church. Is this a legitimate concern for conveyancing in Trentham?
Unless a previous purchase of the property took place post 12 October 2013 you could expect lawyers conducting conveyancing in Trentham to remain recommending a chancel search and or chancel repair liability policy.
I've recently found out that there is a flying freehold element on a house I put an offer in last month in what was supposed to be a quick, no chain conveyancing. Trentham is where the house is located. Is there any advice you can impart?
Flying freeholds in Trentham are not the norm but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Trentham you must be sure that your lawyer goes through the deeds diligently. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Trentham may decide that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold property.
Been searching for a conveyancing practitioner for leasehold sale conveyancing in Trentham. We are selling, simple no mortgage to pay off, no hurry, currently vacant. Had a quote from a solicitor for nine hundred pounds including VAT which is a little high considering its so straightforward. Can I pay less for conveyancing in Trentham?
As it’s a sale only, 475 + VAT should be about the lowest for sale conveyancing in Trentham.