The sellers of the home we are hoping to buy are using a conveyancing solicitor in Lutterworth who has insisted on a preliminary agreement with a non-refundable deposit two thousand pounds. Are such agreements sensible?
This kind of preliminary agreement isn't frequently used in Lutterworth, conveyancers are often found to direct clients away from them as they divert attention from the primary focus, namely conveyancing and if you end up losing your deposit then the solicitor is left exposed. Secondly, there is no certainty that just because the vendor has signed a lock out contract they will sell to you. They may breach the contract if they receive a big enough incentive to do so because a wronged party with the benefit of a lockout agreement will still have to show losses as a consequence of the breach and these may not amount to the extra amount that your seller may secure by breaking the agreement, however morally reprehensible the behaviour is.
We had appointed solicitors based in Lutterworth on the HSBC solicitor approved list. They have just billed me an additional amount for the legal aspects of the HSBC mortgage. Is this an additional conveyancing fee set by HSBC?
Provided it is contained in their Terms of Engagement or estimate then yes your property lawyer can levy a fee for this. The charge is not set by HSBC but by your Lutterworth lawyer. Plenty of firms on the HSBC panel will levy ’dealing with mortgage’ fee and others do not.
I currently have a mortgage with Co-operative for my property in Lutterworth. Conveyancing was finalised 12 months ago. Should I wish to rent out the flat and do not currently have a buy-to-let mortgage do I need to remortgage to a buy-to-let mortgage or inform Co-operative?
You must advise Co-operative prior to letting out your property as this is likely to be a breach of Co-operative’s mortgage conditions. It may be that Co-operative will allow you to rent 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 Co-operative directly. It should not be necessary to do this via a Co-operative conveyancing panel firm.
Our offer on a detached house in Lutterworth has been accepted, the sellers do nevertheless have a dependent purchase. The owners have offered on somewhere, but it’s not yet tied up, and have viewings of other flats in the pipeline. I have instructed a bricks and mortar conveyancing solicitor in Lutterworth. What should be my next step? At what stage should I apply for the mortgage with Nottingham?
It is usual to have concerns where there is a chain as you are unlikely to want to be too out of pocket too early (home loan application is approx one thousand pounds, then survey, Lutterworth conveyancing search charges, etc). First, you should ensure that your conveyancing practitioner is on the Nottingham approved list. Concerning the subsequent stages this very much depends on the uniqueness of your transaction, motivation for the property and on the state of the market. During a buoyant market the majority of home buyers would apply for the mortgage with Nottingham and pay for the valuation and only if it was satisfactory would they request their solicitor to proceed with the conveyancing in Lutterworth.
What can a local search inform me concerning the house I am buying in Lutterworth?
Lutterworth conveyancing often starts with the applying for local authority searches directly from your local Authority or through a personal search organisations such as Searchflow The local search plays an important role in most Lutterworth conveyancing purchase; that is if you don’t want any nasty once you have moved into your new home. The search will supply information on, amongst other things, details on planning applications relevant to the premises (whether granted or refused), building control history, any enforcement action, restrictions on permitted development, nearby road schemes, contaminated land and radon gas; in all a total of 13 subject sections.
I decided to have a survey completed on a property in Lutterworth prior to instructing solicitors. I have been advised that there is a flying freehold aspect to the property. Our surveyor advised that some lenders tend refuse to grant a loan on this type of property.
It varies from the lender to lender. HSBC has different instructions for example to Nationwide. If you e-mail us we can check with the appropriate mortgage company. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Lutterworth. Conveyancing will be smoother if you use a solicitor in Lutterworth especially if they are accustomed to such properties in Lutterworth.
I need to instruct a conveyancing solicitor for sale conveyancing in Lutterworth. I have chance upon a site which seems to have the perfect solution If there is a chance to get all formalities done via web that would be preferable. Do I need to be wary? What should out be looking out for?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?