The owners have very assertive vendors who has insisted on a preliminary contract with a deposit of 5k. Is it wise to enter into such agreements?
Exclusivity contracts are agreements binding a home seller and purchaser giving the buyer a ‘clear field’ to purchase the premises for a certain period of time. For all intents and purposes, a lock out is a document specifying that you will receive a contract at a later time which is the main conveyancing contract. It tends to be used for buyer confidence though in some cases, the owner may stand to benefit from such agreements as well. There are many positives and negatives to having them but you should to check with your lawyer but note that it may result in incurring extra in conveyancing fees. In light of this these contracts are unusual in relation to conveyancing in West Moors.
If you had a top tip for choosing a conveyancing solicitor in West Moors what would it be?
We would encourage you not to base your choice on the lowest West Moors conveyancing quote. You really do get what you’re paying for when it comes to property lawyers. A cheap quote may mean that the conveyancing solicitor is handling a lot of jobs at one time and you won’t get the quality of service and the attention that you need. It is, however, wise to use a conveyancer who has a fixed fee on a no sale, no fee basis. This way, you go into the conveyancing with your eyes wide open.
We previously instructed conveyancing lawyers based in West Moors on the Leeds Building Society solicitor approved list. They have just invoiced me a supplemental fee for handling the Leeds Building Society mortgage. Is this an additional conveyancing fee specified by Leeds Building Society?
Unfortunately, so long as it is in their Terms of Engagement or estimate then yes your solicitor may charge a fee for this. The fee is not dictated by Leeds Building Society but by your West Moors conveyancer. Plenty of firms on the Leeds Building Society panel will levy an ‘acting for lender’ fee but many firms include it on their overall fee.
After weeks of negotiation I have agreed a price on an apartment in West Moors. My mortgage broker suggested a lawyer. I paid an advanced payment of £200. Not long after, the solicitor called me to say that they were not on the Kent Reliance conveyancing panel. Am I right in thinking that I should be due a refund?
You should be able to recover this from the law firm if they were not on the Kent Reliance panel. They should have asked at the outset which lender you were obtaining a mortgage with. An important lesson to readers of this site is to check that the lawyers are on the appropriate lender panel.
My wife and I have a renovated Georgian house in West Moors. Conveyancing solicitor acted for me and Norwich and Peterborough Building Society. I did a free Land Registry search last week and I saw two entries: the first freehold, another for leasehold with the matching property. I'd like to know for sure, how can I find out??
You should read 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 West Moors and other areas of the country and poses no real issues for owners other than when they buy they have to account for both freehold and leasehold interests when dealing with lenders. You can also check the position with the conveyancing lawyer who conducted the work.
How does conveyancing in West Moors differ for newly converted properties?
Most buyers of new build property in West Moors approach us having been asked by the builder to exchange contracts and commit to the purchase even before the house is built. This is because house builders in West Moors usually buy the site, 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 property lawyers 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 West Moors or who has acted in the same development.
I have been on the look out for a flat up to £245,000 and identified one close by in West Moors I like with open areas and railway links nearby, the downside is that it only has 51 years on the lease. I can't really find anything else in West Moors for this price, so just wondered if I would be making a grave error acquiring a short lease?
Should you require a mortgage the remaining unexpired lease term will likely be problematic. Reduce the offer by the expected lease extension will cost if it has not already been discounted. If the current proprietor has owned the property for at least 2 years you may ask them to start the process of the extension and then assign it to you. An additional ninety years can be extended on to the existing lease term and have £0 ground rent by law. You should speak to your conveyancing solicitor regarding this matter.