The vendors of the home we are hoping to buy have appointed a conveyancing solicitor in Enfield Lock who has insisted on a preliminary contract with a down payment 6,000. Is it wise to enter into such agreements?
Lock out agreements are agreements between a property owner and purchaser granting the buyer a ‘clear field’ to purchase the property for a limited period of time. Essentially, an exclusivity is a document stating that you will have a contract at a later time being the main conveyancing contract. It tends to be utilised for buyer protection though in some cases, the vendor may enjoy an upside from such agreements as well. There are many positives and negatives to using them but you need to check with your lawyer but beware that it may end up incurring extra in conveyancing fees. In light of these reasons these contracts are rare when it comes to conveyancing in Enfield Lock.
Can you clarify what the consequences are if my lawyer’s firm is removed from the Bank of Ireland Conveyancing panel ahead of completing my conveyancing in Enfield Lock?
The first thing to point out is that, this is very unlikely to happen. In most cases even where a law firm is removed off of a panel the lender would allow the completion to go ahead as the lender would appreciate the difficulties that they would place you in if you have to instruct a new solicitor days before completion. In a worst case scenario where the lender insists that you instruct a new firm then it is possible for a very good lawyer to expedite the conveyancing albeit that you may pay a significant premium for this. The analogous situation is where a buyer instructs a lawyer, exchanges contracts and the law firm is shut down by a regulator such as the SRA. Again, in this situation you can find lawyers who can troubleshoot their way to bring the conveyancing to a satisfactory conclusion - albeit at a cost.
This question may be naive but I am wet behind the ears as a first time purchaser of a garden flat in Enfield Lock. Do I receive the keys to the house on the completion date from my lawyer? If so, I will use a High Street conveyancing solicitor in Enfield Lock?
On the day of completion you will not be required to go to the conveyancers office in Enfield Lock. Your solicitors will transfer the completion advance to the vendor’s conveyancers, and once they have received this, you should be invited to collect the keys from the property Agents and start moving into the property. Usually this happens early afternoon.
How can we know in advance if a Enfield Lock conveyancing solicitor on the HSBC panel is any good?
When it comes to conveyancing in Enfield Lock obtaining recommendations is a sensible starting point. Before you go ahead, check if they offer a no sale no fee offer. Also, you often get what you pay for - a firm which quotes more, will often provide a better service than one which is cheap as chips. We would always suggest that you speak with the solicitor conducting your transaction.
I have a mortgage with Aldermore for my property in Enfield Lock. Conveyancing was finalised months ago. Should I wish to rent out my property and do not currently have a buy-to-let mortgage do I need to remortgage to a buy-to-let mortgage or inform Aldermore?
Your original mortgage agreement with Aldermore will provide that you need their approval prior to letting out your property as this is likely to be a breach of Aldermore’s mortgage conditions. In many cases banks or building societies will allow you to rent out your former home without needing to switch to a buy-to-let mortgage but some lenders will add a surcharge to your mortgage rate to reflect the higher risk. You should contact Aldermore directly. You need not do this via a Aldermore conveyancing panel firm.
I'm refinancing my existing home to a BTL mortgage with The Royal Bank of Scotland and intend to use the remaining equity towards another house. The location we are interested in is Enfield Lock. Will your solicitors be able to act for both sets of banks and tie in the transactions?
Do use our comparison tool on this page to ensure that the conveyancers are approved by both banks. On the basis that they are the lawyer will be able to connect the two transactions but you should talk with you solicitor and make apparent your expectations and requirements.
I have just started marketing my ground floor apartment in Enfield Lock. Conveyancing has not commenced, but I have recently had a quarterly maintenance charge demand – what should I do?
Your conveyancing lawyer is likely to suggest that you should pay the maintenance contribution as usual as all rents and maintenance invoices should be apportioned on completion, so you will be reimbursed by the buyer for the period running from after the completion date to the subsequent invoice date. Most management companies will not acknowledge the buyer unless the service charges have been paid and are up to date, so it is important for both buyer and seller for the seller to show that they are up to date. This will smooth the conveyancing process.
Following months of negotiations we simply can't agree with our landlord on how much the lease extension should cost for our flat in Enfield Lock. Does the Leasehold Valuation Tribunal have jurisdiction to calculate the appropriate figures?
in cases where there is a absentee landlord or if there is dispute about what the lease extension should cost, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the LVT to arrive at the price.
An example of a Vesting Order and Purchase of freehold matter before the tribunal for a Enfield Lock residence is Ground Floor Flat 4A Baronet Road in February 2010. Following a vesting order by Edmonton County Court on 23rd December 2008 (case number 8ED064) the Tribunal decided that the price that the Applicant for the freehold interest should pay is £8,689.00 This case affected 2 flats. The remaining number of years on the lease was 80.01 years.
I have chosen a Enfield Lock conveyancing solicitor for our home move (first time buyers) and have picked up in the terms and conditions that they are not overseen by the FCA. Am I right to be worried or is that usually the case with property lawyer?
We can't see why they should be. Most conveyancer don't lend money. They will be regulated by the SRA, who have stringent obligations regulating amounts sitting on client account.