The owners of the house we are looking to purchase have instructed a conveyancing solicitor in Polegate who has insisted on a preliminary agreement with a payment of 5k. Are such agreements sensible?
There are a couple of main downsides with entering into any lock out agreement (also known as an exclusivity agreement) is that it takes away the focus from progressing with the conveyancing transaction itself, so unless it requires limited or no negotiation then it may turn out to be unhelpful. It is not promoted by Polegate conveyancing lawyers as a result. A supplemental negative is the extent of the remedies available - a jilted buyer is not likely to obtain injunctive relief to prohibit the seller disposing of the property to an alternative purchaser, so the only remedy open via the contract will be the recovery of abortive charges and, in restricted situations, the extra payment of penalties.
In what way does my ID and proof of funds have anything to do with my conveyancing in Polegate? What am I being asked for?
Polegate conveyancing solicitors and indeed property practitioners accross the UK have a duty under Anti-terror and anti-money-laundering rules to check the ID of any client in order to ensure that clients are who they say they are.
Conveyancing clients will need to disclose two forms of certified ID; proof of identity (typically a Passport or Driving Licence) and evidence of address (typically a Utility Bill no older than three months).
Evidence of the origin of monies is also required under the money laundering laws as solicitors have a duty to check that the money you are using to buy a property (be it the exchange deposit or the total purchase amount where you are a cash purchaser) has come from an acceptable source (such as an inheritance) as opposed to the product of criminal activity.
Various web forums that I have come across warn that are the primary reason for obstruction in Polegate conveyancing transactions. Is that correct?
The Council of Property Search Organisations (CoPSO) released determinations of research by MoveWithUs that conveyancing searches do not figure within the common causes of hindrances in the conveyancing process. Local searches are not likely to be the root cause of holding up conveyancing in Polegate.
I am purchasing a new build house in Polegate with a mortgage from The Mortgage Works. The builders would not move on the amount so I negotiated £7000 of additionals instead. The property agent advised me not to tell my solicitor about this deal as it could adversely affect my mortgage with The Mortgage Works. Do I keep my lawyer in the dark?.
All lenders require a Disclosure of Incentives Form from the builder of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
What does commercial conveyancing in Polegate cover?
Non domestic conveyancing in Polegate covers a broad array of advice, given by regulated solicitors, relating to business premises. By way of example, this area of conveyancing can cover the sale or purchase of freehold business premises or, more usually, the assignment of existing business tenancies or the drafting of new leasing arrangements. Commercial conveyancing solicitors can also offer advice on the sale of business assets, commercial loans and the termination of tenancies.
I am 3 weeks into a leasehold purchase having been directed to a firm by the selling agent to handle our conveyancing in Polegate. I am am very dissatisfied with the quality of service. Can you you assist me in finding new solicitors?
A conveyancer would need to be very bad to suggest changing them. Has the mortgage offer been generated? In the event that it has you will need to inform them of the new contact details and ensure the offer are re-issued. Your new solicitor ideally needs to be on the mortgage company panel to avoid escalating costs and frustration. So that should be your first question of the new solicitors. Our find a solicitor tool will help you find a lender approved lawyer for your conveyancing in Polegate