The owners have very pushy sellers who has suggested a lock out contract with a payment of 5k. Are such contracts appropriate for Vauxhall conveyancing transactions?
This type of contract is not the norm in Vauxhall, conveyancers are often found to veer clients away from them as they detract from focusing on the primary focus, namely conveyancing 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. Secondly, there is no guarantee that just because the seller has executed an exclusivity contract they will sell to you. They may breach the contract if they are offered a big enough offer to do so because a wronged purchaser with the benefit of a lockoutcontract will still be legally obliged to show losses as a consequence of the breach and these may not equalise the financial upside that your vendor may obtain by breaching the agreement, however morally shameful it undoubtedly is.
Do lenders provide you with an approved list of Vauxhall conveyancing solicitors? How do you know who is on the Co-operative conveyancing panel?
Vauxhall conveyancing firms themselves provide us confirmation that they are on the Co-operative conveyancing panel as opposed to being supplied with a list from Co-operative directly.
We are buying a newly converted flat in Vauxhall with a loan from The Mortgage Works.We use our Vauxhall conveyancing practitioner but The Mortgage Works advised that her practice is not listed on their approved list of firms. We have to appoint a The Mortgage Works panel solicitor or retain our preferred solicitor and fork out for a The Mortgage Works panel lawyer to represent them. We feel as though this is unjust; Can we not simply insist that The Mortgage Works use our lawyer?
Unfortunately,no. The loan issued to you is subject to its various provisions, a common one being that conveyancers will be on the The Mortgage Works solicitor panel. Until recently, most lenders had large numbers of law firms 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 The Mortgage Works
My wife and I purchased a terraced Georgian property in Vauxhall. Conveyancing practitioner represented me and Alliance & Leicester . I did a free Land Registry search last week and I saw two entries: one for freehold, another for leasehold under the matching property. I thought I was buying a freehold how can I check?
You should review the Freehold register you have again and check the Charges Register for mention of a lease. The best way to be sure that you are also the registered owner of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Vauxhall and other locations in the country and poses no real issues for owners other than when they mortgage they have to account for both freehold and leasehold interests when dealing with mortgage companies. You can also question the position with your conveyancing practitioner who conducted the conveyancing.
I am buying a new build house in Vauxhall with a loan from Nationwide Building Society. The builders refused to budge the price so I negotiated £7000 of extras instead. The house builders rep suggested that I not inform my solicitor about this deal as it may affect my loan with Nationwide Building Society. 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 am looking to sell my property. My past solicitors closed down. I would be grateful for any recommendation of a conveyancing firm. I happen to live in Vauxhall if that affects matters.
Please use our search tool to help you choose a solicitor for your conveyancing in Vauxhall. We have connected thousands of home buyers and sellers with regulated solicitors to ensure that the legalities of their house move runs smoothly.