The vendors of the property we are hoping to buy are using a conveyancing solicitor in Stretton who has insisted on a exclusivity contract with a payment 10k. Are such agreements generally advanced for Stretton conveyancing transactions?
Exclusivity agreements are contracts between a property vendor and purchaser granting the buyer a ‘clear field’ to the sale of the premises for a set period of time. Essentially, a lock out is a document specifying that you will be issued with a contract at a later time which is the main conveyancing contract. It tends to be used for buyer confidence though in many situations, the proprietor may stand to benefit from such agreements as well. There are various positives and negatives to using an agreement but you should to check with your conveyancer but beware that it may result in incurring more in conveyancing fees. In light of these reasons these contracts are not popular when it comes to conveyancing in Stretton.
We are planning to acquire a flat and need a conveyancing solicitor in Stretton who is on the Co-operative conveyancing panel. Could you point me in the right direction as regards a firm?
Our service is limited to being a directory service for firms who wish to be listed as being on the approved conveyancing panel for Co-operative . We don't recommend any particular firms conducting conveyancing in Stretton.
My wife and I have a semi-detached Georgian house in Stretton. Conveyancing lawyer represented me and Leeds Building Society. I did a free Land Registry search last week and I saw two entries: the first freehold, another for leasehold with the matching address. If a house is not a freehold shouldn't I have been informed?
You should review the Freehold register you have again and check the Charges Register as there may be mention of a lease. The best way to be sure that you are also the registered proprietor of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Stretton and other areas of the country and poses no real issues for owners other than when they buy they have to account for both freehold and leasehold interests when dealing with buyers. You can also question the position with your conveyancing solicitor who conducted the conveyancing.
I am buying my first flat in Stretton with a loan from National Westminster Bank. The builders would not reduce the price so I negotiated five thousand pounds worth of extras instead. The estate agent told me not inform my lawyer about the extras as it may put at risk my loan with the lender. Do I keep my lawyer in the dark?.
All lenders require a Disclosure of Incentives Form from the developer 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.
How easy is it to change a solicitor as I need to find a Stretton based firm who is on the mortgage company conveyancing panel. Is it practical to instruct different lawyers?
In the event that you have not formally appointed a conveyancer to do anything for you and at this stage simply received quotes, you're perfectly free to choose a different solicitor to carry out your work for you. The best way is to get recommendations from friends or family who have actually used the solicitor or conveyancer in Stretton that you're thinking of instructing.