We have very pushy vendors who has suggested a lock out agreement with a payment 10k. Is it wise to enter into such agreements?
Exclusivity contracts are agreements binding a property owner and purchaser giving the buyer a ‘clear field’ to purchase the property for a certain period of time. Essentially, a lock out is a document stating that you should have a contract at a later date being the contract for the actual sale. It tends to be used for buyer confidence though in many situations, the owner may stand to benefit from such agreements as well. There are many positives and negatives to using an agreement but you need to check with your lawyer but note that it may result in incurring extra in conveyancing charges. For this these agreements are not popular in relation to conveyancing in Vauxhall.
we are a couple who are purchasing a 3 bedroom apartment in Vauxhall with a mortgage from Halifax.We use our Vauxhall conveyancing practitioner but Halifax says she’s not on their "panel". We have to appoint a Halifax panel firm or keep our local solicitor and pay for a Halifax panel lawyer to act for them. We feel as though this is unjust; is there anything we can do?
No, not really. The home loan issued to you contains terms and conditions, a common one being that conveyancers will be on the Halifax solicitor panel. in the past, most lenders had large numbers of solicitors on their panels: a borrower could choose one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. A further alternative is for your solicitors to apply to be on the conveyancing panel for Halifax
Will our lawyer be raising questions concerning flooding as part of the conveyancing in Vauxhall.
The risk of flooding is if increasing concern for lawyers dealing with homes in Vauxhall. Some people will buy a property in Vauxhall, completely expectant that at some time, it may suffer from flooding. However, leaving to one side the physical destruction, where a house is at risk of flooding, it may be difficult to get a mortgage, adequate insurance cover, or dispose of the property. Steps can be carried out during the course of a property purchase to forewarn the purchaser.
Conveyancers are not qualified to give advice on flood risk, however there are a numerous searches that can be carried out by the purchaser or by their conveyancers which should give them a better appreciation of the risks in Vauxhall. The standard completed inquiry forms sent to a purchaser’s solicitor (where the Conveyancing Protocol is adopted) contains a usual question of the vendor to determine if the property has historically flooded. In the event that the premises has been flooded in past and is not disclosed by the owner, then a buyer could bring a legal claim for losses resulting from an incorrect response. The buyer’s conveyancers will also conduct an environmental report. This will higlight whether there is a recorded flood risk. If so, additional inquiries will need to be made.
I used Arc property Solicitors several years past for my conveyancing in Vauxhall. I now require my file however the law firm is no longer operating. 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 Vauxhall of the conveyancing firm of solicitors you previously hired, the name of conveyancing solicitor with whom you had dealings, and the date on which you last had dealings with the firm.
Do you have any advice for leasehold conveyancing in Vauxhall with the aim of expediting the sale process?
- A significant proportion of the frustration in leasehold conveyancing in Vauxhall can be reduced if you get in touch lawyers the minute your agents start marketing the property and request that they start to put together the leasehold information needed by the purchasers’ lawyers. You may think that you are aware of the number of years remaining on your lease but it would be wise to double-check by asking your solicitors. A purchaser's conveyancer will not be happy to advise their client to to exchange contracts if the lease term is under 80 years. In the circumstances it is important at an as soon as possible that you consider whether the lease for your property needs extending. If it does, contact your solicitors before you put your home on the market for sale. Some Vauxhall leases require Landlord’s consent to the sale and approval of the buyers. If this is the case, you should notify your estate agents to make sure that the purchasers obtain financial (bank) and professional references. Any bank reference should make it clear that the buyer is financially capable of paying the annual service charge and the actual amount of the service charge should be quoted in the bank’s letter. You will therefore need to provide your estate agents with the actual amount of the service charge so that they can pass this information on to the purchasers or their lawyers. The majority of freeholders or Management Companies in Vauxhall charge for supplying management packs for a leasehold premises. You or your lawyers should discover the fee that they propose to charge. The management information can be applied for as soon as you have a buyer, thus accelerating the process. The average time it takes to obtain the necessary information is three weeks. It is the most common cause of delay in leasehold conveyancing in Vauxhall.
We have reached the end of our tether in trying to purchase the freehold in Vauxhall. Can the Leasehold Valuation Tribunal adjudicate on premiums?
Where there is a absentee landlord or where there is dispute about the premium for a lease extension, under the relevant statutes you can apply to the LVT to make a decision on the price.
An example of a Lease Extension matter before the tribunal for a Vauxhall property is Flats 12A & 19, Evelyn Mansions Carlisle Place in June 2009. The Tribunal held that the price to be paid for the new lease of Flat 12A is £168,824, For the other flat the price was set at £169,110 This case affected 2 flats. The remaining number of years on the lease was 56 years.
I acquired a property in Vauxhall last 24/1/2020 and to date it is still not recorded with HM Land Registry. It is part of a development site and my lawyer told me that it can take twelve months to register. I have called HM Land Registry directly and they have informed me the original application was cancelled due to questions not being addressed in time. Do I need to be concerned?
get in touch with your property lawyer - Where you are unsatisfied with the responses, enquire as to their firm’s complaints procedure and amplify your concerns to a Complaints Manager. Registrations for Vauxhall conveyancing are not known to be significantly delayed.