The sellers of the home we are purchasing have instructed a conveyancing solicitor in Sidcup who has recommended a exclusivity contract with a deposit 6,000. Are such arrangements the norm for Sidcup conveyancing transactions?
There are two main drawbacks with entering into any lock out agreement (occasionally referred to as a shut-out contract) is that it diverts attention away from moving forward with the conveyancing work, so in the absence of it needing little or no negotiation then it could transpire to be a hindrance. It is not promoted amongst Sidcup conveyancing practitioners as a result. A supplemental concern is the extent of the remedies available - a jilted purchaser is very unlikely to be issued with an injunction to prevent the vendor disposing of the property to another buyer, so the only remedy available under the contract will be the reimbursement of abortive charges and, in rare circumstances, the extra payment of damages.
I am told that my conveyancing solicitors will need to check that the building insurance when buying a house in Sidcup. My lender is Accord Mortgages
Accord Mortgages have specific requirements as set out in the UK Finance Lenders’ Handbook. As of 22/1/2020, the requirements read as follows :
I used Action Conveyancing several years past for my conveyancing in Sidcup. Now, I need my files however cannot find the solicitor. What do I do?
You should call the Solicitors Regulatory Authority (SRA) to help locate your conveyancing files. They can be contacted on please contact on 0870 606 2555. Alternatively, you should use their online form to make an enquiry. You will need to provide the SRA with as much information as possible to assist their search, including the name and address in Sidcup of the conveyancing firm of solicitors you previously instructed, the name of conveyancing solicitor with whom you had dealings, and the date on which you last had dealings with the firm.
How does conveyancing in Sidcup differ for newly converted properties?
Most buyers of new build residence in Sidcup approach us having been asked by the seller to sign contracts and commit to the purchase even before the property is ready to move into. This is because developers in Sidcup typically acquire the land, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are used to new build conveyancing in Sidcup or who has acted in the same development.
Due to the guidance of my in-laws I had a survey completed on a property in Sidcup prior to appointing solicitors. I have been advised that there is a flying freehold overhang to the house. My surveyor advised that some mortgage companies may not issue a loan on this type of house.
It varies from the lender to lender. Lloyds has different requirements for example to Halifax. If you contact us we can investigate further via the relevant mortgage company. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Sidcup. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Sidcup to see if the conveyancing costs will increase in light of this.
My partner is buying a shared ownership flat in Sidcup. He was given a quote by the conveyancing practitioner suggested by the selling agents and it came to £1385 . It was eight years ago since I sold and purchased a property and it cost was £450. Have fees really gone up that much?
What does the conveyancing estimate include? Is it just for the legal fees, or what you will be paying in total (for example Sidcup searches, land registry fees, etc)