The owners of the house we are purchasing have instructed a conveyancing solicitor in Minera who has suggested a exclusivity agreement with a payment of 5k. Is it wise to enter into such agreements?
Lock out contracts are contracts between a home owner and prospective acquirer granting the buyer a ‘clear field’ to the sale of the premises within an agreed time frame. For all intents and purposes, an exclusivity is a document specifying that you will have a contract at a later date which is the contract for the actual sale. It is generally utilised for buyer assurance though in some cases, the owner may stand to benefit from such agreements as well. There are numerous positives and negatives to using them but you should to check with your solicitor but beware that it may result in costing you more in conveyancing charges. For these reasons these contracts are not popular when it comes to conveyancing in Minera.
When does exchange of contracts happen for residential conveyancing in Minera and do I need to attend the solicitors branch?
Where you are local to one of the conveyancing solicitors in Minera you are invited in to sign documents. That being said, the law practices we recommend supply a national conveyancing service and provide just as detailed and professional a job for you when dealing with you by post or email. The signing of the property agreement is not when everything is set in stone. Signing on the dotted line is just a prerequisite for the conveyancer to exchange contracts at the suitable time, which will usually be very shortly after signing. The procedure is is usually a five minute process, although where a lengthy "chain" is in play, since the process requires the relevant party's solicitor (not necessarily a conveyancing solicitor in Minera)to be in the office at the appropriate time.
I have a mortgage with Principality for my property in Minera. Conveyancing was finalised 12 months ago. Should I wish to rent out the flat and do not currently have a buy-to-let mortgage do I need to remortgage to a BTL mortgage or inform Principality?
Principality must be informed of your intention before renting your property as this is likely to be a breach of Principality’s mortgage conditions. It may be that Principality 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 Principality directly. You need not do this via a Principality conveyancing panel firm.
I am selling my apartment. I had a double glazing fitted in August 2006, but did not receive a FENSA certificate or Building Regulation Certificate. My buyer's lender, Skipton are being a right pain. The Minera solicitor who is on the Skipton conveyancing panel is recommending indemnity insurance as a solution but Skipton are requiring a building regulation certificate. Why do Skipton have a conveyancing panel if they don't accept advice from them?
It is probably the case that Skipton have referred the matter to their valuer. The reason why Skipton may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing was correctly and safely installed. The indemnity insurance merely protects against enforcement action which is very unlikely anyway.
I was told three weeks ago that my mortgage has been agreed to by Aldermore. Is it usual for Aldermore to only issue the offer once my solicitor in Minera is approved on their conveyancing panel? Aldermore have asked my solicitor to see a copy of their Professional Indemnity Insurance Schedule.
A lender would not issue a mortgage until they have details of a lawyer on their panel. It can take a few weeks for Aldermore to deal with your lawyer's application to be on the Aldermore conveyancing panel. There's no guarantee that your solicitor will be accepted.
The deeds to my house are lost. The lawyers who dealt with the conveyancing in Minera 4 years ago no longer exist. Will I be able to sell the house?
These day there are copies made of almost everything, and your conveyancer will know precisely where to locate all the suitable paperwork so you may buy or sell your house without a hitch. If duplicates are not available, your lawyer may be able to put in place insurance or indemnities protecting you against future claims on your premises.
Due to the guidance of my in-laws I had a survey completed on a property in Minera in advance of retaining lawyers. I have been advised that there is a flying freehold element to the house. My surveyor advised that some banks may not grant a loan on a flying freehold property.
It varies from the lender to lender. HSBC has different instructions from Halifax. Should you wish to call us we can look into this further with the appropriate lender. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Minera. Conveyancing may be slightly more expensive based on your lender's requirements.
My husband and I are FTB’s - had an offer accepted, but the property agent told us that the owners will only proceed if we appoint their recommended solicitors as they are insisting on an ‘expedited deal’. My instinct tells me that we should use a local solicitor with experience of conveyancing in Minera
We suspect that the owner is not behind this requirement. If they desire ‘a quick sale', taking such a hostile approach to a motivated purchaser is going to damage their objectives. Speak to the owners direct and make the point that (a)you are keen to buy (b)you are excited to move forward, with mortgage lined up © you are chain free (d) you wish to move quickly (e)however you are going to use your own,trusted Minera conveyancing lawyers - rather thanthose that will give their estate agent a introducer fee or hit his conveyancing targets demanded by head office.