We have very pushy vendors who has recommended a exclusivity agreement with a payment of 5k. Is it wise to enter into such agreements?
This kind of contract is not the norm in Dartford, conveyancers are not keen on them as they detract from focusing on the primary focus, namely conveyancing and if you end up losing your deposit then the lawyer is left exposed. In addition, there is no guarantee that just because the owner has entered into an exclusivity contract they will sell to you. They may be in contravention of the contract if they receive sufficient financial inducement to do so because an aggrieved buyer with the benefit of a exclusivity agreement will still be duty bound to show losses as a consequence of the breach and these may not compare to the extra amount that your vendor may gain by breaching the contract, however morally condemnable the behaviour is.
We previously selected conveyancing lawyers with offices in Dartford on the Virgin Money solicitor panel. They are now charging me a further fee for handling the Virgin Money mortgage. Is this a supplemental conveyancing fee set by Virgin Money?
Provided it is contained in their Terms and Conditions or Quote then yes your conveyancing practitioner is entitled to levy a fee for this. The charge is not dictated by Virgin Money but by your Dartford conveyancing practitioner. Numerous firms on the Virgin Money panel will charge ’dealing with mortgage’ fee and others do not.
We expect to receive a DIP from UBS 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 UBS recommend any Dartford solicitors on the UBS conveyancing panel, or is it better to find our own lawyer?
You will need to appoint Dartford solicitors independently although you'll need to choose one on the UBS conveyancing panel. The solicitor represents both you and UBS through the process.
It is unclear whether my lender obliges me to make sure the lease term for the flat is extended prior to the completion date. I have called into my local Dartford building society branch on a couple of occasions and was told it does not affect the mortgage offer and they will lend. My Dartford conveyancing solicitor - who is on the lender conveyancing panel- telephoned and was told they will not lend based on their published requirements. I simply don't know who is right.
Provided that the property lawyer is on the mortgage company approved list, she or he must adhere to the CML Handbook conditions for the bank. Unless your lawyer obtains specific confirmation in writing that the bank 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 remaining.
five months have elapsed following my purchase conveyancing in Dartford took place. I have checked the Land Registry site which shows that I paid £200,000 when infact I paid £160,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the premises from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
I was advised by numerous estate agents in Dartford to select a solicitor on your site. Is there a financial inducement for Estate Agents to market your lawyers over and above alternative conveyancing organisations?
We refuse to give any commission for pointing buyers and sellers in our direction. We found it would be just too difficult a fee because a client could think, ‘Why is the agent getting a kickback? Why aren’t I receiving any benefit too?’ We would prefer to grow our business on genuine recommendations.
We are 3 weeks into a leasehold purchase having been referred to a firm by the local agent to execute conveyancing in Dartford. I am not happy. Can you help me find new solicitors?
They would have to be very bad to suggest changing them. Has the mortgage been issued? If so you will need to advise them of the new solicitor and have the mortgage documents are re-sent. Your new solicitor ideally should be on the lenders panel to avoid added expenses and complications. So that should be your starting point. Our search tool will help you find a bank approved conveyancer for your home move in Dartford
My husband and I have had DIP from The Mortgage Works who have advised that they will lend up to £400k. When do we need to appoint a solicitor for conveyancing? Dartford is where we plan to move to.
You can appoint a solicitor now requesting that they open a file for you. This will facilitate: 1) the estate agent to issue a Sales Memo to all parties 2) the seller’s conveyancing practitioner to submit the draft contract. However, do not instruct your conveyancer to order searches until you have your valuation report from The Mortgage Works and you are content to proceed.