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Ready to buy a new home in Ouston? Failing to check that a lawyer is on your lender’s list of approved solicitors can put your Ouston transaction at risk of delay or failure.

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Recently asked questions about conveyancing in Ouston

The owners of the house we are hoping to buy hired a conveyancing practitioner in Ouston who has insisted on a lock out contract with a deposit 6,000. Are such agreements sensible?

Lock out agreements are agreements between a property owner and prospective acquirer granting the buyer a ‘clear field’ to the sale of the property within a prescribed time frame. Essentially, a lock out agreement is a contract specifying that you should have a contract at a later time which is the main conveyancing contract. It is generally used for buyer assurance though in many situations, the proprietor may enjoy an upside from such agreements as well. There are numerous positives and negatives to having an agreement but you need to check with your conveyancer but beware that it may result in costing you extra in conveyancing charges. In light of this these agreements are unusual in relation to conveyancing in Ouston.

Is it the case that all Ouston CQS (Conveyancing Quality Scheme) solicitors are on the Co-operative conveyancing panel?

Some major lenders now utilise the accreditation scheme as the starting point for Panel membership such as HSBC and Santander. The Law Society’s CQS membership however gives no guarantee to lender panel acceptance. Nevertheless,the Council of Mortgage Lenders have indicated that it is likely to become a pre-requisite for firms wishing to remain on their approved list of conveyancing solicitors.

I am expecting a DIP from Barclays this week so we can work out what to offer on a property we like as otherwise we only have online calculators to go by (which aren't taking into account credit checks etc). Do Barclays recommend any Ouston solicitors on the Barclays conveyancing panel, or is it better to go independently?

You will need to appoint Ouston solicitors independently although you'll need to choose one on the Barclays conveyancing panel. The solicitor represents both you and Barclays through the process.

I am due to exchange contracts on my apartment. I had a double glazing fitted in November 2008, but did not receive a FENSA certificate or Building Regulation Certificate. My buyer's mortgage company, UBS are being difficult. The Ouston solicitor who is on the UBS conveyancing panel is recommending indemnity insurance as a solution but UBS are requiring a building regulation certificate. Why do UBS have a conveyancing panel if they don't accept advice from them?

It is probably the case that UBS have referred the matter to their valuer. The reason why UBS may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing was correctly and safely installed. The indemnity insurance merely protects against enforcement action which is very unlikely anyway.

Should our conveyancer be asking questions concerning flooding as part of the conveyancing in Ouston.

Flooding is a growing risk for lawyers specialising in conveyancing in Ouston. Plenty of people will purchase a property in Ouston, completely expectant that at some time, it may be flooded. However, leaving to one side the physical damage, if a property is at risk of flooding, it may be difficult to get a mortgage, satisfactory building insurance, or dispose of the premises. There are steps that can be taken as part of the conveyancing process to forewarn the buyer.

Conveyancers are not best placed to impart advice on flood risk, but there are a numerous searches that can be initiated by the buyer or by their conveyancers which will figure out the risks in Ouston. The standard completed inquiry forms sent to a buyer’s lawyer (where the solicitors are adopting what is known as the Conveyancing Protocol) contains a standard question of the vendor to find out if the property has suffered from flooding. If flooding has previously occurred and is not notified by the owner, then a buyer could issue a compensation claim as a result of such an incorrect response. The buyer’s conveyancers may also commission an environmental search. This will disclose if there is a recorded flood risk. If so, further inquiries should be initiated.

I decided to have a survey completed on a property in Ouston ahead of appointing conveyancers. I have been told that there is a flying freehold overhang to the house. My surveyor has said that some lenders will refuse to give a loan on such a premises.

It depends who your proposed lender is. Santander has different instructions for example to Nationwide. If you call us we can check via the appropriate lender. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Ouston. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Ouston to see if the conveyancing will be more expensive.

Should I choose a Ouston conveyancing practitioner who is local to the property I am hoping to buy? An old friend can carry out the conveyancing however her office is 400kilometers drive away.

The primary upside of using a local Ouston conveyancing firm is that you can pop in to execute documents, deliver your ID and apply pressure on them if necessary. Having local Ouston know how is a benefit. That being said it's more important to get someone that will do a good and efficient job. If other friends have instructed your friend and they were happy that should surpass using an unknown Ouston conveyancing lawyer just because they are Ouston based.

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Find out more about how flying freehold can affect your the value of a property.