We have rather brash vendors who has insisted on a lock out contract with a deposit of 5k. Are such agreements sensible?
There are a couple of main drawbacks with signing a lock out agreement (also referred to as an exclusivity agreement) is that it can distract from making progress with the conveyancing work, so in the absence of it needing limited or no negotiation then it may transpire to be a cause of frustration and delay. It is not particularly popular amongst Hereford conveyancing solicitors for this reason. A supplemental concern is the extent of the remedies available - a jilted buyer should not expect to obtain an injunctive ruling by a court to bar the owner selling to an alternative purchaser, so the only remedy available under the contract will be the recovery of abortive costs and, in limited situations, the extra payment of damages.
Do the Building Society Association intend to launch a search tool with a view to list practices on the Coventry BS conveyancing panel for example in Hereford?
Lexsure has not been advised of any intention on the part of the BSA to promote such a tool.
We previously chose conveyancing lawyers based in Hereford on the Nottingham solicitor panel. They have just invoiced me a further fee for dealing with the Nottingham mortgage. Is this an additional conveyancing fee specified by Nottingham?
Provided it is contained in their Terms and Conditions or Quote then yes your conveyancing practitioner can charge a fee for this. This charge is not set by Nottingham but by your Hereford property lawyer. Numerous firms on the Nottingham panel will quote ’dealing with mortgage’ fee and others do not.
My partner and I have organised the release of further funds on our home loan from Skipton as we wish to carry out a loft conversion to our property in Hereford. Do we need to select a local Hereford solicitor on the Skipton conveyancing panel to handle the paperwork?
Skipton do not ordinarily appoint firms on their approved list of lawyers to deal with such a matter. If they do require any legal work then you would need to ensure that such a lawyer was on the Skipton list.
My husband and I are in the process of viewing houses in Hereford and I am now considering a potential offer. Is it too early to have a solicitor in place? I intend to finance via a home loan with Yorkshire BS.
It would be prudent to start your search sooner rather than later. After you have chosen your lawyer and once your offer is accepted you can instruct them to work for you and forward their contact information on to the estate agent. Given that you are obtaining a mortgage with Yorkshire BS, ask your prospective lawyers if they are on the Yorkshire BS conveyancing panel otherwise they can't do the mortgage legal work.
I've recently found out that there is a flying freehold element on a property I have offered on last month in what was supposed to be a straight forward, chain free conveyancing. Hereford is where the house is located. Can you shed any light on this issue?
Flying freeholds in Hereford are rare but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Hereford you would need to get your solicitor to go through the deeds diligently. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Hereford may ascertain that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold property.
Please set out some of specific benefits to selecting a high street conveyancing practitioner in Hereford
Home movers in Hereford prefer a nearby high street solicitor so that they can visit if they have problems, and to deliver paperwork without using the post.
There is a marginal benefit when using a property lawyer local to a house you are purchasing, due to the in-depth knowledge of the area and potential local issues - however this is moot. The majority of conveyancers carry out their work via the internet and may be practically anywhere.