The owners have rather pushy vendors who has recommended a exclusivity agreement with a down payment 10k. Is it wise to enter into such agreements?
Lock out contracts are contracts binding a home owner and prospective acquirer giving the buyer exclusive rights to purchase the premises for a certain period of time. For all intents and purposes, an exclusivity is a document specifying that you will have a contract at a later time being the contract for the actual sale. It is generally utilised for buyer protection though in some cases, the vendor may stand to benefit from such agreements as well. There are various positives and negatives to using them but you should to check with your conveyancer but note that it may result in incurring more in conveyancing fees. For this these contracts are not popular when it comes to conveyancing in West Kirby.
We're in West Kirby, First timers buying with a mortgage (lender is Coventry BS , and our lawyer is on the Coventry BS conveyancing panel). How long should the conveyancing process take?
The fact that your lawyer is on the Coventry BS conveyancing panel is a help. It would almost certainly delay matters if they were not. However, no solicitor should guarantee a timeframe for your conveyancing, due to third parties outside of your control such as delays caused by lenders,conveyancing search providers or by the other side’s solicitors. The time taken is often determined by the number of parties in a chain.
I am helping my niece sell her property in West Kirby. Will the solicitor commission the EPC or it is for the owner to coordinate?
After the abolition of HIPs, energy assessments was left as a required part of selling a property. An energy performance certificate needs to be to hand prior to the property being advertised. It is not as aspect of the sale process that solicitors normally organise. If you are using a West Kirby conveyancing practitioner they might be willing to arrange energy performance certificates given their contacts with long established local energy assessors
The mortgage over my property is with TSB for my property in West Kirby. Conveyancing has been completed some time ago. If I am intending to rent out my property and do not currently have a buy-to-let mortgage do I need to remortgage to a BTL mortgage or inform TSB?
TSB must be informed of your intention prior to renting your property as this is likely to be a breach of TSB’s mortgage conditions. In many cases banks or building societies will permit you to let out your former home without needing to switch to a buy-to-let mortgage but some lenders will add a surcharge to your mortgage rate to reflect the higher risk. You should contact TSB directly. You need not do this via a TSB conveyancing panel solicitor.
It is unclear whether my mortgage offer requires a lease extension. I have called my West Kirby building society branch on a couple of occasions and was told it does not affect the mortgage offer and they will lend. My West Kirby conveyancing solicitor - who is on the mortgage company conveyancing panel- called and was told they will not lend based on their published requirements. Who do I believe?
Provided that the property lawyer is on the mortgage company approved list, they must follow the CML Handbook provisions for the lender. Unless your lawyer obtains specific confirmation in writing that the lender will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the lender to contact your lawyer in writing confirming that they will accept the number of years left on the lease.
I have been on the look out for a leasehold apartment up to £305k and identified one round the corner in West Kirby I like with a park and railway links in the vicinity, the downside is that it only has 49 years unexpired on the lease. I can't really find anything else in West Kirby for this price, so just wondered if I would be making a mistake purchasing a short lease?
If you require a home loan that many years will likely be a potential deal breaker. Discount the offer by the anticipated lease extension will cost if it has not already been discounted. If the current proprietor has owned the property for a minimum of 2 years you can ask them to commence the lease extension formalities and then assign it to you. An additional ninety years can be extended on to the current lease term and have £0 ground rent by law. You should consult your conveyancing solicitor regarding this matter.
How difficult is it to transfer to a new conveyancer as I need to instruct a firm on the Barclays conveyancing panel. I hired a local conveyancing solicitor in West Kirby round the corner but he is not approved by Barclays
It would be our pleasure to assist you find a conveyancing solicitor in West Kirby on the Barclays panel. Please note that the property lawyers that we work with do not pay us fee if you instruct them and are registered with the SRA who oversee all conveyancing solicitors in West Kirby. In utilising the find a conveyancing solicitor tool on this site, you can compare and instruct different solicitors and conveyancers both nationally and in West Kirby.
I am looking for a conveyancing solicitor in West Kirby for my house move. Is there any facility to see a solicitor's complaints history with the legal regulator?
You can read documented Solicitor Regulator Association (SRA) determinations arising from inquisitions started on or after 1 January 2008. Go to Check a solicitor's record. To find information Pre 2008, or to check a solicitors history, phone 0870 606 2555, 08.00 - 18.00 Monday, Wednesday, Thursday, Friday and 09.30 - 18.00 Tuesday. International callers, call +44 (0)121 329 6800. The regulator sometimes recorded telephone calls for training purposes.