The sellers of the house we are looking to purchase have appointed a conveyancing solicitor in Tower Hill who has recommended a preliminary contract with a payment two thousand pounds. Are such agreements sensible?
This type of preliminary agreement is unusual in Tower Hill, conveyancers are not keen on them as they detract from the main conveyancing focus and if you end up having your deposit forfeited then the solicitor at best left with an upset client and at worst a litigious one. Furthermore, there is no assurance that just because the owner has executed an exclusivity contract they will complete the sale with you. They may breach the agreement if they are offered a large enough financial inducement to do so because an aggrieved purchaser with the benefit of a lockoutcontract will still be obliged establish consequential losses from the breach and this may not equalise the financial benefit that your seller may secure by breaking the contract, however morally reprehensible it undoubtedly is.
Having sold my house in Tower Hill last June but my buyer keeps texting every few hours to say her lawyer needs to hear from mine. What should my lawyer have done now that I have sold?
Following your sale your solicitor is obliged to forward the transfer deeds and all of the paperwork to the buyer’s solicitors. If applicable, your solicitor should also evidence that the mortgage has been discharged to the buyers solicitors. There is unlikely to be post completion steps specific conveyancing in Tower Hill.
We hope to to buy with Melton Mowbray Building Society. I dropped in a few high street solicitors yet cant to find a Tower Hill conveyancing firm on the Melton Mowbray Building Society panel. Could you assist?
You should make use of the find a lender approved solicitor tool on this site. Please choose the building society and type Tower Hill or your location and you will see a number of lawyer offices in Tower Hill or near you.
I have recentlyfound out that Arc property Solicitors have been shut down. They carried out my conveyancing in Tower Hill for a purchase of a freehold house 12 months ago. How can I check that the property is in my name in the name of the previous owner?
The easiest method to check if the property is in your name, you can make a search of the land registry (£3.00). You can either do this yourself or ask a law firm to do this for you. If you are not registered you can seek help from one of a number of Tower Hill conveyancing specialists.
I am purchasing my first flat in Tower Hill with the aid of help to buy. The sellers would not move on the amount so I negotiated 6k of fixtures and fittings instead. The house builders rep told me not inform my solicitor about the side-deal as it could jeopardize my mortgage with the lender. Should I keep quiet?.
All lenders require a Disclosure of Incentives Form from the developer 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.
I decided to have a survey done on a property in Tower Hill before appointing lawyers. I have been informed that there is a flying freehold element to the property. My surveyor advised that some mortgage companies will not issue a mortgage on such a property.
It varies from the lender to lender. HSBC has different requirements from Nationwide. Should you wish to call us we can investigate further via the relevant bank. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Tower Hill. Conveyancing will be smoother if you use a solicitor in Tower Hill especially if they are acquainted with such properties in Tower Hill.