The owners of the house we are hoping to buy hired a conveyancing firm in Waterloo who has insisted on a preliminary contract with a non-refundable deposit two thousand pounds. Is it wise to enter into such agreements?

Lock out contracts are contracts between a property owner and purchaser giving the buyer a ‘clear field’ to the sale of the premises for a limited period of time. For all intents and purposes, an exclusivity agreement is a contract stating that you will be issued with a contract at a later date which is the main conveyancing contract. It is generally utilised for buyer assurance though in some cases, the owner may enjoy an upside from such agreements as well. There are numerous pros and cons to using an agreement but you need to check with your lawyer but beware that it may result in costing you more in conveyancing fees. In light of this these contracts are avoided in relation to conveyancing in Waterloo.

I used Wolstenholmes a few years ago for my conveyancing in Waterloo. Now, I need the files however the law firm has closed. What do I do?

You should call the Solicitors Regulatory Authority (SRA) to assist in tracing your conveyancing files. They can be contacted on please contact on 0870 606 2555. Alternatively, you should use their online form to make an enquiry. You will need to provide the SRA with as much information as possible to assist their search, including the name and address in Waterloo of the conveyancing firm of solicitors you previously retained, the name of conveyancing solicitor with whom you had dealings, and the date on which you last had dealings with the firm.

I am purchasing a new build house in Waterloo with a loan from Chelsea Building Society. The builders would not reduce the amount so I negotiated five thousand pounds worth of fixtures and fittings instead. The house builders rep suggested that I not reveal to my solicitor about this extras as it could adversely affect my loan with the bank. Should I keep quiet?.

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.

Due to the guidance of my in-laws I had a survey completed on a property in Waterloo in advance of retaining solicitors. I have been informed that there is a flying freehold aspect to the property. Our surveyor advised that some banks will not grant a loan on such a premises.

It varies from the lender to lender. Santander has different requirements from Nationwide. Should you wish to call us we can check via the appropriate mortgage company. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Waterloo. Conveyancing may be slightly more expensive based on your lender's requirements.

I need to find a conveyancing solicitor for purchase conveyancing in Waterloo. I happened to discover a site which seems to have the ideal answer If there is a chance to get all the legals done via email that would be ideal. Do I need to be wary? What are the potential pitfalls?

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?