The vendors of the home we are hoping to buy hired a conveyancing solicitor in South Yorkshire who has recommended a lock out agreement with a non-refundable deposit 10k. Are such agreements sensible?
There are a couple of main downsides with entering into any lock out agreement (occasionally known as a no-shop agreement) is that it can distract from making progress with the conveyancing process, so in the absence of it needing limited or no negotiation then it could transpire to be unhelpful. It is not promoted by South Yorkshire conveyancing lawyers as a result. A further negative is the extent of the remedies available - an aggrieved purchaser should not expect to be issued with injunctive relief to stop the seller completing the sale to a third party, so the only remedy open via the contract will be the recovery of abortive charges and, in limited situations, the extra payment of penalties.
Our lender has suggested solicitors on their panel based in South Yorkshire but I would rather choose a conveyancing lawyer in South Yorkshire or nearer to where I live. Are you able to help?
The minority of South Yorkshire conveyancing solicitors are approved and listed on all banks conveyancing panel. Do make use of our search tool to locate a South Yorkshire conveyancing firm on the on the bank panel.
Forgive me if this question is silly but I am wet behind the ears as FTB of a ground floor flat in South Yorkshire. Do I pick up the keys to the property on the completion date from my lawyer? If so, I will instruct a High Street conveyancing solicitor in South Yorkshire?
On the day of completion you do not need to go to the conveyancers office in South Yorkshire. Your solicitors will transfer the purchase money to the vendor’s conveyancers, and shortly after the monies have arrived, you should be called to pick up the keys from the Estate Agents and move into your new home. Usually this occurs early afternoon.
I am expecting a AIP from Clydesdale this week so we can work out what to offer on a property we like as otherwise we are dependent on web based calculators (which aren't taking into account credit checks etc). Do Clydesdale recommend any South Yorkshire solicitors on the Clydesdale conveyancing panel, or is it better to go independently?
You will need to appoint South Yorkshire solicitors independently although you'll need to choose one on the Clydesdale conveyancing panel. The solicitor represents both you and Clydesdale through the process.
I can not work out if my lender requires a lease extension. I have called into my local South Yorkshire building society branch on numerous occasions and was told it does not impact the mortgage offer and they will lend. My South Yorkshire conveyancing solicitor - who is on the mortgage company conveyancing panel- telephoned and was told they will not lend based on their UK Finance Lenders’ Handbook minimum lease term requirements. Who do I believe?
Provided that the conveyancer is on the mortgage company panel, they must follow the CML Handbook specifications for the bank. Unless your lawyer obtains specific confirmation in writing that the mortgage company will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the bank to contact your lawyer in writing confirming that they will accept the number of years left on the lease.
Yesterday I discovered that there is a flying freehold element on a property I put an offer in last month in what should have been a simple, no chain conveyancing. South Yorkshire is the location of the property. Can you offer any opinion?
Flying freeholds in South Yorkshire are unusual but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in South Yorkshire you must be sure that your lawyer goes through the deeds diligently. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in South Yorkshire may ascertain that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold premises.
Taking into account that I will soon part with £400,000 on a terraced house in South Yorkshire I would like to talk to a lawyer about myconveyancing before instructing the firm. Is this something that you can arrange?
We could not agree more - it is our preference to talk to you we do not take any clients on without you first talking to the conveyancer due to be doing your property ownership legalities in South Yorkshire.There is no ‘factory style conveyancing’ - each client is an important person, not a case number. The solicitors that we put you in touch with believe that the fees you are provided with for residential conveyancing in South Yorkshire should be the figure that you end up paying.