The owners of the house we are hoping to buy have instructed a conveyancing solicitor in Ulverston who has recommended a preliminary agreement with a down payment 10k. Is it wise to enter into such agreements?
There are a couple of primary downsides with executing a lock out agreement (also termed a shut-out contract) is that it takes away the focus from moving forward with the conveyancing process, so unless it requires limited or no negotiation then it could transpire to be a cause of frustration and delay. It is not strongly advocated amongst Ulverston conveyancing solicitors for this reason. A supplemental concern is the extent of the remedies available - a jilted purchaser should not expect to secure an injunctive ruling by a court to prohibit the vendor disposing of the property to another buyer, so the only remedy available under the agreement will be the reimbursement of abortive costs and, in rare circumstances, the additional payment of damages.
Are the BSA intent on creating a searchable register to to identify practices on the Norwich and Peterborough Building Society conveyancing panel for instance in Ulverston?
We are not aware of any plans on the part of the BSA to develop such a register.
Are all Ulverston Conveyancing Quality Solicitors on the Leeds Building Society conveyancing panel?
It is true that some lenders now make use of CQS as the starting point for Panel approval such as HSBC and Santander. CQS membership 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 firms wishing to join their approved list of firms.
is it true that all Ulverston conveyancing solicitors on the Clydesdale conveyancing panel are overseen by the Solicitors Regulatory Authority?
As a firm of solicitors, in order to be on the Clydesdale conveyancing panel they would need to be regulated by the Solicitors Regulatory Authority. Some lenders do permit licenced conveyancers on their panel in which case such practice would be regulated by the CLC.
I have decided to exercise my right to buy my property in Ulverston off the council. I have a mortgage offer with Bank of Ireland. Conveyancing is new to me. Can I proceed without a solicitor easily? I think we can but we keep being told I should use one. Any advice?
It is not advisable to proceed with a house purchase without a solicitor. The council's solicitor are not acting for you. You need a solicitor for a number reasons. One of which is to verify what plans the Council have for repairs and refurbishment for the next five years. Many leaseholders have been stung for contributions of thousands of pounds. In any event, if you are getting a mortgage with Bank of Ireland, you will need to appoint a solicitor on the Bank of Ireland conveyancing panel.
Yesterday I discovered that there is a flying freehold element on a property I have offered on last month in what was supposed to be a quick, chain free conveyancing. Ulverston is the location of the property. Can you shed any light on this issue?
Flying freeholds in Ulverston are not the norm but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Ulverston you would need to get your solicitor to go through the deeds very carefully. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Ulverston may ascertain 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 residence.
Am I best advised to instruct a Ulverston conveyancing solicitor who is local to the property I am hoping to buy? I have an old university friend who can deal with the legal formalities but they are based 300kilometers drive away.
The primary upside of using a high street Ulverston conveyancing firm is that you can pop in to sign documents, hand in your ID and apply pressure on them if necessary. They will also have local knowledge which is a plus. However it's more important to get someone that will do a good and efficient job. If if people you trust used your friend and in the main were content that should outweigh using an unknown Ulverston conveyancing solicitor just because they are local.
Are Ulverston conveyancing solicitors under an obligation to the Law Society to publish clear conveyancing figures?
Inbuilt into the Solicitors Code of Conduct are prescriptive rules and regulations as to how the Solicitors Regulation Authority (SRA) allow solicitors to publicise their fees to clients.The Law Society have a practice note giving advice on how to publicise transparent charges to avoid breaching any such rule. Practice notes are not legal advice issued by the Law Society and is not to be interpreted as the only standard of good practice a conveyancing solicitor should adhere to. The Practice Note does, nevertheless, represent the Law Society’s perspective of acceptable practice for publicising conveyancing charges, and accordingly it’s a recommended read for any solicitor or conveyancer in Ulverston or across England and Wales.