The vendors of the house we are looking to purchase have instructed a conveyancing practitioner in Woolton who has recommended a preliminary contract with a deposit two thousand pounds. Is it wise to enter into such agreements?
There are two primary downsides with entering into any lock out contract (sometimes termed a no-shop agreement) is that it takes away the focus from progressing with the conveyancing transaction itself, so in the absence of it needing limited or no negotiation then it may turn out to be unhelpful. It is not strongly advocated amongst Woolton conveyancing practitioners for this reason. A supplemental issue is the extent of the remedies available - a jilted buyer is not likely to obtain an injunctive ruling by a court to bar the vendor disposing of the property to a third party, so the only remedy open via the agreement will be the reimbursement of abortive costs and, in rare scenarios, the additional payment of penalties.
My partner and I are selling our house in Woolton and the buyers lawyers are claiming that there is a risk of it being constructed on contaminated land. A high street Woolton conveyancer would know this is not the case. It does beg the question why the buyers used a web based conveyancing outfit rather than a conveyancing solicitor in Woolton. We have lived in Woolton for many years we know of no issue. Is it a good idea to get in touch with our local Authority to seek confirmation that there is no issue.
It sounds as though you may have a conveyancing solicitor currently acting for you. Are they able to advise? You need to check with your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out life insurance to cover that same sickness)
I used Action Conveyancing several years ago for my conveyancing in Woolton. I now require my file but cannot find the solicitor. What do I do?
Do contact the Solicitors Regulatory Authority (SRA) to assist in tracing your conveyancing files. They can be contacted on please contact on 0870 606 2555. Alternatively, you should use their online form to make an enquiry. You will need to provide the SRA with as much information as possible to assist their search, including the name and address in Woolton of the conveyancing firm of solicitors you previously retained, the name of conveyancing solicitor with whom you had dealings, and the date on which you last had dealings with the firm.
I'm purchasing a new build house in Woolton benefiting from help to buy. The builders refused to budge the amount so I negotiated five thousand pounds worth of extras instead. The sale representative suggested that I not to tell my conveyancer about this side-deal as it may impact my mortgage with the bank. Should I keep quiet?.
All lenders require a Disclosure of Incentives Form from the builder of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
I decided to have a survey done on a house in Woolton before instructing lawyers. I have been advised that there is a flying freehold overhang to the property. The surveyor advised that some lenders will not issue a loan on such a home.
It depends who your proposed lender is. Bank of Scotland has different instructions from Halifax. If you e-mail us we can look into this further with the relevant lender. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Woolton. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Woolton to see if the conveyancing costs will increase in light of this.
My 20yr old son is just in the process of moving home, the home loan was agreed last week in principle. After the offer was accepted on apartment we telephoned the lender to progress the mortgage application. I was shocked to hear that mortgage companies do not accept all property lawyer, they need to be on their approved list, is this legal?
Lenders normally restrict either the type or the number of conveyancing practices on their approved list of lawyers. A common example of such restriction(s) being that a firm must have two or more partners. In addition to restricting the type of firm, some have decided to limit the number of firms they use to represent them. You should note that lenders have no responsibility for the quality of advice provided by any Woolton conveyancing practitioner on their panel. Mortgage fraud was a key driver in the rationalisation of conveyancing panels a few years ago and whilst there are differing views about the extent of solicitor involvement in some of that fraud. Statistics from the Land Registry reveal that thousands of law firms only carry out one or two conveyances a year. Those supporting conveyancing panel cuts ask why law firms should have the right to be on a Lender panel when clearly, conveyancing is not their speciality. To put it another way; would you want a conveyancing solicitor to represent you if you were charged with a crime? Presumably not.