The owners of the property we are purchasing are using a conveyancing firm in Tetbury who has suggested a exclusivity contract with a down payment of 5k. Are such agreements sensible?
This type of arrangement is not the norm in Tetbury, conveyancers are not keen on them as they detract from the primary objective, namely conveyancing and if you end up losing your deposit then the solicitor at best left with an upset client and at worst a litigious one. Furthermore, there is no certainty that just because the seller has signed a lock out contract they will sell to you. They may be tempted to break the agreement if they receive a big enough incentive to do so because a wronged party with the benefit of a exclusivity agreement will still be legally obliged to establish consequential losses from the breach and these may not equate the financial upside that your seller may secure by breaking the agreement, no matter how morally condemnable the behaviour is.
Can you clarify what the consequences are if my solicitor is removed from the Co-operative Solicitor panel ahead of completing my conveyancing in Tetbury?
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.
Me and my brother own a renovated Edwardian house in Tetbury. Conveyancing solicitor represented me and Aldermore. I happened to do a free search for it on the Land Registry database and there are two entries: the first freehold, the second leasehold under the matching property. If a house is not a freehold shouldn't I have been informed?
You need to review the Freehold register you have again and check the Charges Register as there may be mention of a lease. The best way to be sure that you are also the registered proprietor of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Tetbury and other locations in the country and poses no real issues for owners other than when they buy they have to account for both freehold and leasehold interests when dealing with mortgage companies. You can also question the situation with your conveyancing practitioner who carried out the work.
I opted to have a survey carried out on a property in Tetbury in advance of retaining lawyers. I have been informed that there is a flying freehold overhang to the property. My surveyor advised that some lenders will refuse to issue a mortgage on this type of property.
It varies from the lender to lender. HSBC has different requirements from Nationwide. Should you wish to call us we can check via the relevant mortgage company. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Tetbury. Conveyancing may be slightly more expensive based on your lender's requirements.
Hoping to buy a property located in Tetbury and I am already nervous. I couldn't find anything specific about Tetbury. Conveyancing will be needed in due course but do you know about the Tetbury area? or perhaps some other tips you can share?
Rather than looking online forget looking online you should go and have a look at Tetbury. In the meantime here are some basic statistics that we found
What do I do if I am unhappy with the conveyancing practitioner who did my conveyancing in Tetbury?
Occasionally the level of service you receive is not as you expect, and unfortunately every so often things do go wrong. That being said there is recourse if you were not happy with your conveyancing in Tetbury. This varies from trying to resolve matters directly with them, through to reporting a solicitor to their regulator. If you remain dissatisfied you may consider getting in touch with the Legal Ombudsman.