The owners have very pushy sellers who has suggested a preliminary contract with a deposit two thousand pounds. Is it wise to enter into such agreements?
This kind of contract is unusual in Carlisle, conveyancers are often found to direct clients away from them as they divert attention from the main conveyancing focus and if you end up having your deposit forfeited then the lawyer is left exposed. Secondly, there is no guarantee that just because the vendor has entered into an exclusivity contract they will sell to you. They may be in contravention of the contract if they receive sufficient financial inducement to do so because an aggrieved claimant with the benefit of a lockout agreement will still be obliged establish consequential losses from the breach and this may not amount to the extra amount that your seller may obtain by reneging on the agreement, however morally unworthy that may be.
We note that you have a search directory identifying firms on the Leeds Building Society conveyancing panel. Do companies pay you a commission if I retain them for our conveyancing in Carlisle?
We are a listing service only for law firms wishing to communicate if they are on the Leeds Building Society conveyancing panel or other lender panels. We do not charge referral fees to any conveyancer that you subsequently appoint for your conveyancing in Carlisle.
My uncle passed away six months ago and as sole heir and executor I was left the house in Carlisle. The house had a relatively small loan remaining of approximately £5k. I want to transfer the title deeds into my name whilst I re-mortgage to RBS, pay off the mortgage. Is this allowed?
Where you intend to re-mortgage then RBS will insist on your using a conveyancer on the RBS conveyancing panel. Here is link to the Land Registry online guidance around what to do when a property owner dies. This will help you to understand the registration process behind changing the details re the registered title. in your case it would appear that you are effectively purchasing the property from the estate. Your RBS conveyancing panel solicitor pays the new mortgage money into the estate, the estate pays off the old mortgage, the charge is released and you become the owner and the RBS mortgage is registered as a charge at the Land Registry.
How does conveyancing in Carlisle differ for newly converted properties?
Most buyers of new build premises in Carlisle come to us having been asked by the builder to exchange contracts and commit to the purchase even before the residence is constructed. This is because new home sellers in Carlisle typically buy the real estate, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancing solicitors as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are used to new build conveyancing in Carlisle or who has acted in the same development.
Over the last few months I have been searching for a flat up to £305k and identified one round the corner in Carlisle I like with amenity areas and station nearby, the downside is that it only has 61 years on the lease. I can't really find anything else in Carlisle in this price bracket, so just wondered if I would be making a mistake buying a lease with such few years left?
If you need a mortgage the shortness of the lease may be problematic. Reduce the price by the expected lease extension will cost if not already taken into account. If the current proprietor has owned the property for a minimum of twenty four months you can ask them to commence the lease extension formalities and then assign it to you. An additional ninety years can be extended on to the current lease term with a zero ground rent applied. You should consult your conveyancing lawyer regarding this matter.