We have rather pushy sellers who has insisted on a exclusivity contract with a down payment 6,000. Are such agreements sensible?
There are two main downsides with entering into any lock out contract (sometimes referred to as a no-shop agreement) is that it diverts attention away from moving forward with the conveyancing work, so unless it requires limited or no negotiation then it could transpire to be a cause of frustration and delay. It is not strongly advocated by Buckden conveyancing solicitors as a result. The other main concern is the extent of the remedies available - an aggrieved purchaser is very unlikely to be issued with an injunctive ruling by a court to prohibit the owner disposing of the property to a third party, so the only remedy open via the contract will be the reimbursement of wasted costs and, in restricted circumstances, the extra payment of damages.
It is 10 years ago since I bought my property in Buckden. Conveyancing solicitors have recently been instructed on the sale but I am unable to find the title deeds. Is this a major issue?
You need not be too concerned. Firstly there is a possibility that the deeds will be kept by the mortgage company or they could still be with the solicitor who handled the purchase. Secondly the chances are that the property will be registered at the land registry and you will be able to establish that you own the property by your conveyancing lawyers procuring up to date copy of the land registers. The vast majority of conveyancing in Buckden involves registered property but in the unlikely event that your property is not registered it adds to the complexity but is not insurmountable.
A friend pointed out to me me that in buying a property in Buckden there may be various restrictions limiting what one can do in terms of external changes to the property. Is this right?
There are a number of properties in Buckden which have some sort of restriction or requirement of consent to carry out external changes. Part of the conveyancing in Buckden should determine what restrictions are applicable and advising you as part of a ROT that should be sent to you.
I am the only beneficiary of my late mum's estate with all property in now in my sole name, including the my former home in Buckden. Conveyancing formalities meant that the Land Registry date was in December. I plan to dispose of the property. I understand that there is a CML six month 'rule', meaning my proprietorship will be treated the same way as though I had purchased the property in December. Do I have to wait 6 months to sell?
The CML handbook obliges solicitors to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." Technically you may be affected by that. How practical a view lenders take of it, depend on the bank as this requirement chiefly exists to pick up on subsales or the quick reselling of property.
I can not work out if my mortgage offer obliges me to make sure the lease term for the flat is extended prior to the completion date. I have called into my local Buckden building society branch on a couple of occasions and was told it does not affect the mortgage offer and they will lend. My Buckden conveyancing solicitor - who is on the mortgage company conveyancing panel- called and was told they would not lend in accordance with their UK Finance Lenders’ Handbook minimum lease term requirements. I simply don't know who is right.
Your conveyancing practitioner has to comply with the CML Handbook section two requirements for your lender. Unless your lawyer obtains specific confirmation in writing that the lender 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 lender to contact your lawyer in writing confirming that they will accept the number of years left on the lease.
I opted to have a survey completed on a house in Buckden before appointing conveyancers. I have been advised that there is a flying freehold aspect to the property. My surveyor advised that some lenders will refuse to grant a mortgage on a flying freehold property.
It varies from the lender to lender. Lloyds has different instructions for example to Nationwide. Should you wish to call us we can investigate further via the appropriate lender. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Buckden. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Buckden to see if the conveyancing costs will increase in light of this.
My husband and I are FTB’s - had an offer accepted, but the agent has warned us that the seller will only move forward if we use their recommended lawyers as they are insisting on a ‘quick sale’. Our preferred option is to instruct a family conveyancer with experience of conveyancing in Buckden
We suspect that the seller is not behind this demand. Should the seller desire ‘a quick sale', taking such a hostile approach to a serious purchaser is not the way to achieve this. Try to communicate with the sellers directly and make the point that (a)you are motivated buyers (b)you are excited to move forward, with mortgage lined up © you are chain free (d) you intend to proceed fast (e)but you will continue to instruct your preferred Buckden conveyancing firm - not the ones that will earn the estate agent a kickback or hit his conveyancing targets demanded by HQ.
Me and my husband are looking at buying our first property in Buckden. Please can you refer me to a good Buckden conveyancing practitioner that would help us as well as act for HSBC?
LenderPanel.com is restricted to being a directory service for solicitors who want to be listed as being on the approved conveyancing panel for HSBC in certain locations such as Buckden . Our intention is not to recommend any particular lawyer.