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Reservation Agreement
17 October 2019
1 min read

Reservation Agreement

A precedent Reservation Agreement has been added to the sale and purchase of land guides. The agreement is designed to bind the parties to an agreed pre-exchange time frame in which the seller will not deal with third parties, and the buyer will either exchange the offered contract or withdraw on discovery of serious adverse affectations through the usual investigations, searches and enquiries. By this means the parties are able, immediately following agreement and issue of the contract, to be confident that the transaction will proceed in the absence of unforeseen and unexpected circumstances.
Conveyancing and Property
Leasehold Reports On Title
29 May 2019
1 min read

Leasehold Reports On Title

According to the Solicitors Regulation Authority (SRA) almost one quarter of firms do not adequately explain leasehold tenure and the associated issues. Accordingly, By Lawyers have reviewed the precedent Report on title – Leasehold in an effort to provide clients with a much clearer understanding of the implications of purchasing a leasehold estate. Plain language communications, particularly with clients, is a primary focus for By Lawyers.
Conveyancing and Property
Public Beta Of Digital Mortgage Service
29 May 2019
1 min read

Public Beta Of Digital Mortgage Service

The Land Registry hopes to release its digital mortgage service in public beta this year. In a recent news update, the Registry’s digital services manager Eddie Davies said that ‘the department is continuing to work with Coventry and Enact on the next phases of the service as well as also working with lenders to get their mortgage deeds approved and templates created. So far, the Registry has approved several deeds from lenders in the remortgage market including Nationwide, HSBC, RBS, NatWest and Santander. ‘Since opening the service to more lenders and conveyancers we have seen an increase in the number of digital mortgages registered showing an appetite in the market to use new technology. Some lenders have started offering online mortgage applications and our service helps to bring the industry one step closer to an end-to-end digital process.’
Conveyancing and Property
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