We have rather pushy vendors who has insisted on a lock out contract with a down payment of 5k. Are such contracts appropriate for Lymington conveyancing transactions?
Exclusivity contracts are contracts binding a home vendor and purchaser giving the buyer exclusive rights to purchase the property within a prescribed time frame. For all intents and purposes, an exclusivity agreement is a contract specifying that you will have a contract at a later date being the main conveyancing contract. It is generally utilised for buyer assurance though in many situations, the vendor may enjoy an upside from such agreements as well. There are many positives and negatives to using an agreement but you should to check with your conveyancer but beware that it may result in incurring extra in conveyancing fees. For these reasons these agreements are rare in relation to conveyancing in Lymington.
It is 10 years ago since I bought my house in Lymington. Conveyancing lawyers have recently been retained on the sale but I can't find my title documents. Is this a major issue?
You need not be too concerned. First the deeds may be with your lender or they may be in the possession of the lawyers who acted in the purchase. Secondly in all probability the property will be registered at the land registry and you will be able to prove you are the registered owner by your conveyancing lawyers procuring current official copies of the land registers. Most conveyancing in Lymington involves registered property but in the unlikely event that your home is unregistered it is more tricky but is resolvable.
We wanted to use a property lawyer in Lymington for our home move. Our broker has since advised us that our mortgage lenders Skipton Building Society won't deal with them. Why is this not regarded as unfair competition?
Before the recession most mortgage companies had a different appetite for risk. Almost all Lymington conveyancing firms would have been on many lender panels. The Financial Services Authority in 2010 carried out a thematic investigation into mortgage fraud which concluded: know the conveyancing solicitors dealt with. Consequently, lenders are increasingly seeing more information from law firms regarding their operations and their employees as well as establishing certain criteria such a completing on a minimum number of conveyancing. Many Lymington conveyancing firms that have been excluded from lender panels have a 100% healthy track record, no complaints and no claims and didn't just 'dabble' in conveyancing. Lymington is one of the numerous locations where the conveyancers showing on our search results are are approved Skipton Building Society.
I am buying a property and the conveyancer has referenced Chancel Repair to which the property could be obligated to pay because it falls into the area of such a church. He has mentioned insurance. Is this really appropriate for conveyancing in Lymington
Unless a prior acquisition of the property took place post 12 October 2013 you may assume that conveyancing practitioners carrying out conveyancing in Lymington to remain encouraging a chancel search and or chancel repair liability policy.
Is it simple use the search facility to locate a conveyancing solicitor in Lymington on the panel for my bank?
Step one is to select a mortgage company such as Halifax, Coventry Building Society or Barclays Direct then type in your location e.g. Lymington. Conveyancing practices in Lymington and across England and Wales will then be listed.
All being well we will complete our sale of a £375,000 flat in Lymington next Monday. The freeholder has quoted £300 for Certificate of Compliance, insurance certificate and previous years service charge statements. Is it legal for a freeholder to charge exorbitant fees for a flat conveyance in Lymington?
Lymington conveyancing on leasehold apartments normally necessitates fees being raised by management companies :
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Completing pre-exchange questions
Where consent is required before sale in Lymington
Supplying insurance information
Deeds of covenant upon sale
Registering of the assignment of the change of lessee after a sale
I own a 1 bedroom flat in Lymington, conveyancing was carried out in 2005. How much will my lease extension cost? Comparable flats in Lymington with over 90 years remaining are worth £176,000. The ground rent is £50 yearly. The lease ceases on 21st October 2075
You have 50 years remaining on your lease the likely cost is going to range between £31,400 and £36,200 as well as plus your own and the landlord's "reasonable" professional fees.
The suggested premium range above a general guide to costs for extending a lease, but we cannot give you the actual costs without more comprehensive investigations. Do not use this information in a Notice of Claim or as an informal offer. There may be other issues that need to be considered and clearly you want to be as accurate as possible in your negotiations. Please do not move forward placing reliance on this information before getting professional advice.