The owners have rather assertive sellers who has recommended a preliminary agreement with a deposit 6,000. Are such arrangements generally advanced for Arnos Grove conveyancing transactions?
There are two main drawbacks with signing a lock out agreement (sometimes known as a shut-out contract) is that it takes away the focus from making progress with the conveyancing transaction itself, so in the absence of it needing little or no negotiation then it may transpire to be unhelpful. It is not strongly advocated by Arnos Grove conveyancing practitioners for this reason. A supplemental issue is the extent of the remedies available - a jilted purchaser is not likely to win an injunction to bar the owner completing the sale to a third party, so the only remedy open via the contract will be the reimbursement of abortive charges and, in rare circumstances, the extra payment of penalties.
How up to date is your database of Arnos Grove solicitors on the Lloyds conveyancing panel? Do Lloyds send you an updated list?
Arnos Grove conveyancing firms themselves provide us confirmation that they are on the Lloyds conveyancing panel as opposed to being supplied with a list from Lloyds directly.
We're in Arnos Grove, FTBs buying with a mortgage (lender is Clydesdale , and our lawyer is on the Clydesdale conveyancing panel). How long should the conveyancing process take?
The fact that your lawyer is on the Clydesdale conveyancing panel is a help. It would almost certainly delay matters if they were not. However, no solicitor should guarantee a timeframe for your conveyancing, due to third parties outside of your control such as delays caused by lenders,conveyancing search providers or by the other side’s solicitors. The time taken is often determined by the number of parties in a chain.
Please help - my lawyer says that missing deeds insurance is required on my purchase. What is the level of cover for Arnos Grove conveyancing?
The right level of missing deeds indemnity insurance depends on who your lender is. It would differ for example between Birmingham Midshires and Barnsley Building Society. Conveyancing practitioners as opposed to borrowers take out such policies.
We are getting a further advance on our mortgage from Skipton as we wish to carry out improvements to our house in Arnos Grove. Are we obliged to choose a nearby Arnos Grove solicitor on the Skipton conveyancing panel to deal with the legals?
Skipton don't usually appoint firms on their conveyancing panel to handle the formalities. If they do require any legal work then you would need to ensure that such a lawyer was on the Skipton panel.
Last month we had a mortgage agreed in principle with Virgin Money. Arnos Grove conveyancing solicitors are selected. What is the average time that one could expect to receive a mortgage offer from Virgin Money?
There is no definitive answer here. Have Virgin Money conducted the survey? Have you informed Virgin Money as to your lawyers' details and checked that your lawyers are on the Virgin Money conveyancing panel? Sometimes it can take as long as six weeks for a mortgage offer to be issued.
Is it necessary to pay for insurance to address the risk of chancel repairs when buying a house in Arnos Grove?
Unless a prior acquisition of the property took place after 12 October 2013 you can expect conveyancing practitioners handling conveyancing in Arnos Grove to remain recommending a chancel search and or insurance against a claim.