My best friend’s step-father is a solicitor. I suspect that I can be offered friends and family pricing for conveyancing, but if not, what kind of figure should I be expecting for conveyancing in Egremont?
You should contrast pricing. Make use of our search tool on this site. Whilst estimates may contrast greatly but service levels do differ between property lawyers as is the case with the vast majority of professional services.
The vendors of the house we are looking to purchase have instructed a conveyancing practitioner in Egremont who has suggested a preliminary agreement with a deposit 10k. Are such contracts recommended for Egremont conveyancing transactions?
This form of arrangement is unusual in Egremont, conveyancers are often found to veer clients away from them as they detract from the primary focus, namely conveyancing and if you end up having your deposit forfeited then the solicitor at best left with an upset client and at worst a litigious one. In addition, there is no guarantee that just because the proprietor has executed a lock out agreement they will sell to you. They may be motivated to break the agreement if they receive a big enough offer to do so because a wronged claimant with the benefit of a exclusivity agreement will still be legally obliged to establish consequential losses from the breach and these may not amount to the financial benefit that your seller may secure by breaking the contract, however morally shameful the behaviour is.
I am purchasing my first flat in Egremont benefiting from help to buy. The developers would not budge the price so I negotiated £7000 of additionals instead. The property agent advised me not inform my lawyer about this extras as it may affect my loan with the bank. Is this normal?.
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 opted to have a survey done on a house in Egremont prior to retaining conveyancers. I have been informed that there is a flying freehold aspect to the property. The surveyor advised that some lenders will refuse to issue a mortgage on this type of property.
It varies from the lender to lender. Lloyds has different instructions from Nationwide. If you contact us we can check via the relevant mortgage company. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Egremont. Conveyancing may be slightly more expensive based on your lender's requirements.
Should I stop the direct debit for my mortgage with Barclays as soon as a completion date for my sale in Egremont has been set?
No, you must maintain paying any mortgage sums to Barclays until the mortgage is repaid from the proceeds of sale as part of your Egremont conveyancing.