We have rather assertive vendors who has suggested a lock out agreement with a down payment two thousand pounds. Is it wise to enter into such agreements?

This form of agreement is unusual in Newmarket, conveyancers will often try and steer clients away from them as they detract from focusing on the primary focus, namely conveyancing and if you end up losing your deposit then the lawyer at best left with an upset client and at worst a litigious one. Furthermore, there is no guarantee that just because the vendor has executed a lock out agreement they will complete the sale with you. They may be in contravention of the contract if they receive a big enough incentive to do so because an aggrieved buyer with the benefit of a exclusivity agreement will still be obliged establish consequential losses from the breach and these may not equalise the extra amount that your vendor may gain by breaching the contract, however morally shameful that may be.

Why do I have to pay up front for my conveyancing in Newmarket?

If you are buying a property in Newmarket your lawyer will ask you to provide them with funds to cover the the cost of the conveyancing searches. Generally this is requested to cover the fees of the conveyancing searches. When the deposit is payable against the total price then this should be asked for shortly ahead of contracts are exchanged. The final balance that is needed should be transferred a few days ahead of the completion date.

I am in the process of mortgaging my house in Newmarket, does my lawyer have to be on the Leeds Building Society Conveyancing panel?

In theory, you could use a solicitor that is not on the Leeds Building Society conveyancing panel, but Leeds Building Society would require one of their panel solicitors to be instructed to act in their interests, and you'd have to pay for this - so most people instruct a panel solicitor. It's also easier, as otherwise you'd have to deal with two solicitors for the same conveyancing matter.

I have been pointed in your direction by a number of estate agents in Newmarket to get a quote from a property lawyer using your seach tool. Is there a financial inducement for Estate Agents to market your services over and above alternative conveyancing organisations?

We don’t offer any referral fee for pointing buyers and sellers in our direction. We found it would be just too difficult to pay a commission as members of the public would think, ‘Why is the agent getting a kickback? Why am I not receiving any benefit too?’ So we decided to step away from that.

How do I find a Newmarket conveyancing solicitor on the mortgage company conveyancing panel? I have a car and am prepared to travel up to 20miles to attend the conveyancer.

You can use the find a conveyancing panel tool on this page. Please choose the lender and your location, in this case Newmarket and you will see a number of lawyer located nearest Newmarket. Alternatively you can type in the name of your proposed law firm and see if they are listed as being on the bank solicitor panel.