The sellers of the home we are looking to purchase hired a conveyancing practitioner in Windsor who has suggested a exclusivity agreement with a non-refundable deposit two thousand pounds. Are such arrangements generally advanced for Windsor conveyancing transactions?
This form of agreement is not the norm in Windsor, conveyancers will often encourage clients away from them as they divert attention from the primary focus, namely conveyancing and if you end up having your deposit forfeited then the lawyer is left exposed. Furthermore, there is no assurance that just because the seller has signed an exclusivity agreement they will complete the sale with you. They may breach the contract if they are offered a big enough offer to do so because an aggrieved claimant with the benefit of a lockout agreement will still have to establish consequential losses from the breach and this may not compare to the financial benefit that your vendor may gain by breaching the agreement, however morally reprehensible the behaviour is.
Forgive me if this question is silly but I am unexperienced as a 1st time purchaser of a garden flat in Windsor. Do I pick up the keys to the premises on completion from my solicitor? If this is the case, I will instruct a local conveyancing solicitor in Windsor?
There is no need to visit the lawyers office on the day of completion. Your solicitors will electronically transfer the completion advance to the vendor’s solicitors, and shortly after the monies have arrived, you should be called to collect the keys from the Estate Agents and move into your new home. This tends to happen early afternoon.
Is there a list of Lloyds panel solicitors in Windsor on the Council of Mortgage Lender’s Website?
No. There is no such tool on the CML or Building Society Association sites. Very few mortgage companies make their panel listings visible online. Where you are in need of a Windsor solicitor on the Lloyds please make the most of our facility.
My wife and I are in the throws of looking at apartments in Windsor and I am about to put in an offer. Is it sensible to have my lawyer on ‘stand by’? I intend to finance via a home loan with Yorkshire BS.
It would be sensible to start your search sooner rather than later. Once you decide who you want to use and once your offer is accepted you can instruct them to work for you and forward their details on to the estate agent. Given that you are getting a mortgage with Yorkshire BS, make sure you remember to check that your lawyer is on the Yorkshire BS conveyancing panel.
What does a local search tell me regarding the property I am buying in Windsor?
Windsor conveyancing often starts with the applying for local authority searches directly from your local Authority or through a personal search company such as Searches UK The local search is essential in every Windsor conveyancing purchase; as long as you don’t want any unpleasant surprises after you move into your new home. The search should provide information on, amongst other things, details on planning applications applicable to the property (whether granted or refused), building control history, any enforcement action, restrictions on permitted development, nearby road schemes, contaminated land and radon gas; in all a total of 13 subject sections.
My wife and I own a terraced Georgian house in Windsor. Conveyancing practitioner acted for me and Barclays Direct. I happened to do a free search for it on the Land Registry database and there are two entries: one for freehold, another for leasehold with the exact same property. If a house is not a freehold shouldn't I have been informed?
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 Windsor and other areas of the country and poses no real issues for owners other than when they sell they have to account for both freehold and leasehold interests when dealing with lenders. You can also question the position with the conveyancing lawyer who conducted the conveyancing.
Over the last few months I have been searching for a leasehold apartment up to £245,000 and found one round the corner in Windsor I like with a park and station nearby, the downside is that it only has 51 years on the lease. There is not much else in Windsor suitable, so just wondered if I would be making a mistake buying a lease with such few years left?
Should you require a home loan the remaining unexpired lease term will be problematic. Discount the offer by the amount the lease extension will cost if it has not already been discounted. If the existing owner has owned the property for at least 2 years you may ask them to commence the lease extension formalities and pass it to you. You can add 90 years to the current lease and have £0 ground rent by law. You should speak to your conveyancing lawyer regarding this.