Note, if you are buying a new-build property, click here for the relevant Terms of Business.
WALLACE QUINN & CO
21 Glasgow Road
GLASGOW G69 6JT
IMPORTANT NOTES FOR CLIENTS AND TERMS OF BUSINESS
We are pleased to note that you wish us to act for you in connection with your forthcoming property transaction. We are delighted to have been appointed as your solicitors and look forward to acting for you in connection with this matter or any other occasion where you may require legal advice. We aim to provide excellent service and hope that no matter the circumstances in which you find yourself instructing us you can enjoy the service we provide. We hope that once this matter or transaction is completed you will be happy to instruct us again in the future and refer family, friends and colleagues to us.
You should have received along with these notes or prior to their receipt confirmation of the Solicitor or person within the firm dealing with the matter on your behalf and an estimate of our fees and outlays. You should note however that the service provided to our clients is very much team based and that from time to time specific matters will be delegated or handled by suitably qualified colleagues of the principle Solicitor or person dealing with this matter on your behalf. Such an approach enables us to provide the best level of service to our clients. If you require further clarification in this respect please contact us immediately.
We realise that this is a very important time for you and, whether or not you have bought or sold a house or other property or entered into a commercial lease as a landlord or tenant before, you may not be wholly familiar with the conveyancing procedures involved.
In order to avoid any anxiety or misunderstanding in connection with the forthcoming transaction we think it would be useful if you would note the following points:
- (a) If we are instructed by more than one person, say for example a couple whether married or not, in connection with the purchase or sale of property we shall assume that one or other is entitled to speak for both. If this should not apply to your transaction we will expect you to advise us in which case we shall take separate instructions from each individual concerned. If we are completing title in joint names for a married couple, civil partners or co-habiting couple we will normally provide that the whole title is to pass to the survivor in the event of one party predeceasing the other while they both still own the property. Again, if this is not to apply to your transaction you should advise us immediately.
(b) If we are instructed by a Company or a Partnership we will accept instructions from any Director of the Company or Partner of the Firm unless otherwise advised. We will proceed on the basis that any Director or Partner has authority to instruct us on behalf of the Company or Firm. Similarly, if we are instructed by Trustees on behalf of a Trust we will accept instructions from any one Trustee unless otherwise advised. We will proceed on the basis that each Trustee has authority to instruct us on behalf of the Trust. You should note it is likely however that in cases of Partnerships or Trustees we will require formal documentation to be signed by all parties or Trustees.
(c) ADDITIONAL DWELLING SUPPLEMENT. If you are instructing us in connection with the purchase of residential property you should be aware of the implications of the Additional Dwelling Supplement under the Land and Buildings Transaction Tax (LBTT) regime. This means that if (i) you or your spouse or cohabitee own another residential property on the date of the purchase—for example a buy to let property, holiday home or house in which a relative lives—or (ii) if you are purchasing the house in the name of a company or partnership additional LBTT WILL BE PAYABLE. The ADS rate is calculated as 4% of the purchase price of the house you are buying and so the liability is likely to be very substantial. We will expect you to disclose details of any additional properties owned by you, your spouse, or cohabitee and will require to collect the tax from you and pay it on your behalf before we can complete the purchase by registering your title in the Land Register. Please refer to Clause 7 hereof for further information. Please also discuss any potential issues in this regard with us at the outset of the transaction so that we can advise you fully on your liability.
- We will from time to time write to you and ask you to contact us. In particular we will send you copies of the missives which form the basis of the contract between you and the other party involved in the transaction. These missives are obviously very important documents upon which we require specific instructions. It is therefore vital that you read them carefully since any response issued on your behalf will be contractually binding. Similar considerations would apply to lease documentation and contracts sent to you for consideration. We will proceed on the basis that you have read all correspondence and documentations issued to you. We may also send you other documents such as plans, Guarantees, Dispositions and ask that you read over, approve or note the content thereof. We shall proceed on the basis that you are aware of the content of all documents sent to you and shall expect you to draw to our attention any apparent discrepancies or concerns that you might have in respect of these documents. You should appreciate that in most cases we will not have viewed the property nor be familiar with its physical characteristics. If for example we send you a plan and ask you to check that the plan accurately reflects the property being purchased or sold or leased by you we will expect you to have examined the plan carefully and exercise reasonable judgement as to whether or not there is any discrepancy.
On most occasions we will accept verbal instructions from you. We may however from time to time request that you confirm instructions in writing. This is most likely to be when the instructions received are of an unusual nature or perhaps contrary to advice which has been given to you. You should note however that if you provide us with verbal instructions we are likely to act upon these and that in itself may have binding legal consequences particularly in relation to the contract with the seller/purchaser. You should note that once missives are concluded on your behalf the contract will be binding upon you even although no documents have been signed by you.
To assist us in providing the most suitable advice we will expect you to provide us with full details of the circumstances of your case so that we can advise you on an informed basis about the issues raised and how best to deal with them..
We will therefore expect you to provide us with clear instructions and inform us of any time limits or constraints of which you are aware.
We will also expect you to provide us with all relevant documentation and respond promptly in respect of any requests for information.
We will also expect you to behave in a respectful, courteous and reasonable manner in all of your dealings with our team members.
If you have provided us with an e-mail address we shall proceed on the basis that you are happy for us to correspond with you by e-mail we will send you correspondence and communications by e-mail. In such instances we will not usually also send you postal communication duplicating the matters covered in the e-mail or with a copy of the e-mail. We will assume that you are checking your e-mails regularly and are happy to communicate by e-mail unless advised to the contrary. We will also be proceeding on the basis that you have received and read e-mails sent by us to you.
For the avoidance of doubt the communication with you will be by normal, unencrypted e-mail using the e-mail addresses you have given us from time to time. You should be aware that there is a risk that e-mails when unencrypted may be intercepted, delayed or corrupted or may fail to be delivered. We will make reasonable attempts to exclude from our e-mails any virus or other defect that might harm a computer or IT system. We will expect you to act likewise with any electronic communications you send to us. Neither you nor we shall have any liability to each other in respect of any claim or loss arising in connection with such virus or defect in any electronic communication other than where such claim or loss arises from bad faith or wilful default.
- Some of the paperwork which we will send you from time to time may seem daunting, but in view of the importance of the transaction and of our actings on your behalf we would urge you to read all correspondence carefully. We will act on the assumption that you have done so.
- There may be times when you do not hear from us for a few days or occasionally weeks. This does not mean we have forgotten about your transaction or that no progress is being made. We operate a fairly strict system of checks to ensure that all transactions are progressing properly. On occasion there are delays because information is unavailable or because the other solicitors cannot get instructions from their clients. Although we can press for a response there are times when we are powerless to force other parties into acting. For example often such delays occur while the purchaser is waiting on an Offer of Loan in respect of a mortgage or a seller is trying to arrange the purchase of a new house. Situations such as this can cause frustration and anxiety but there is nothing we can do to force the other party to conclude missives except threaten to withdraw.
When you contact us we shall endeavour to respond as quickly as possible. We will endeavour to return telephone calls within the same day and if not as soon as possible. We will deal with all letters and correspondence promptly and keep you advised as to progress in your transaction.
- The Money Laundering Regulations require to be satisfied as to the identity of our clients and as to the source of any funds passing through our hands. In order to comply with these Regulations, we may need to ask you for proof of identity and other information in relation to these matters. We reserve the right to withdraw from acting for you if you fail to provide us with the information requested of you and required in connection with the Money Laundering Procedures.
- Money Laundering & Proceeds of Crime Regulations. Our professional obligations now extend to include anti-money laundering procedures. We operate strict and stringent policies and procedures to ensure that we fulfil the requirements of the Law Society of Scotland in respect of anti-money laundering and client due diligence procedures.
These policies and procedures have important implications in relation to our actings on behalf of clients and will apply to you.-
(a) We will require in relation to all clients to obtain satisfactory photographic proof of identity (either passport or photo driving licence) and proof of current address (for example bank statement, council tax bill or other utility bill) which is no more than three months old. When we hold documentation for you that is out of date we will require you to provide us with current and up to date documentation. When we are acting for a Company, Trust or Partnership we shall require to establish the identity of the beneficial owner of the property or nature of the relationship between the beneficial owner and the client being the Partnership, Company or Trust. We shall require to obtain all of the aforementioned documentation to satisfy ourselves in respect of the proof of identity for the beneficial owner. This means that if we are acting for a Company we shall require in most cases proof of identity for all Shareholders and Directors. We shall also require proof of address in respect of these parties.
(b) Cash Payments – With a view to fulfilling our obligations in respect of anti-money laundering procedures we will not accept cash payments in excess of £1,000.
(c) We cannot accept cheque payments or bank transfers from any party other than you being the client involved in the transaction. This means that if we are receiving funds from a third party, whether an associate, relative or company is making payment in relation to the transaction you should arrange for said payment to be paid to your bank account and then by you to us. If funds are received from a third party we will most likely require to obtain proof of identity documentation and carry out client due diligence procedures in respect of that third party. We shall also require to make enquiry in respect of the source of funds to satisfy ourselves that no suspicion of criminal activity or money laundering attaches to those funds. Exceptionally if we agree to accept funds from third parties the aforementioned client due diligence and source of funds enquiries will be made and in the event of suspicion arising we shall fulfil our obligations to make disclosure to the National Crime Agency (see below).
(d) If funds are to be received by direct bank transfer into our bank account (or by bankers draft) we will require evidence to satisfy us that the monies were withdrawn and received from the bank account of you as the client and not a third party. We cannot accept payments from third parties on your behalf. We will require sight of copy bank statements/print outs showing the funds leaving the Bank Account or a letter from the Bank confirming the transfer. An example of the proof required would be a copy bank statement/printout showing the funds leaving your bank account or a letter from your bank confirming the transfer.
(e) We shall comply with the Council of Mortgage Lenders Handbook at all times in relation to funds received as part of the purchase price or circumstances surrounding transactions. If the deposit for the purchase of the property has been received from a third party, say a parent, relative or friend then we require to disclose the third party deposit situation to the lender and will do so. We also have a duty to fully reveal to your lender all the relevant facts about the purchase and mortgage. This includes an obligation to draw to their attention any differences between the information provided by you in the mortgage application and information we receive during the transaction and/or in relation to cashback payments or discount schemes that may be being operated by the sellers or their agents. You agree to us disclosing such information to the mortgage lender. In these circumstances we will not be able to proceed to settlement of the transaction until the mortgage lender confirms that they are aware of and accept the situation.
(f) It may be that you will be transferring funds to us to make up the purchase price. Please note that if this is the case as part of our professional obligations we must hold evidence on file relating to the source of the funds to be received from you. We must therefore request a copy bank statement which verifies the funds as being held in your account and we would be grateful if you could provide this prior to settlement of your transaction.
(g) Debit and Credit Card payments can only be made in respect of our fees and outlays. Any payments which are required by us relating to your transaction must be made by bank transfer and the relevant information as stated in sections (d) and (e) must be provided before the funds are sent to another Solicitor.
Moreover in the event that your deposit funds have recently been transferred to your account from a third party or another account we will also require a copy bank statement from that account to verify the source of funds. If a third party has provided your deposit we are obliged to notify your mortgage lender. It is therefore vital that you provide us with evidence of your source of funds as soon as possible as such notification may delay the release of funds at settlement. We are sorry to trouble you in this respect but we require to adhere to the relevant Anti Money Laundering Regulations and the lenders requirements.
You should be aware that in common with all professional advisors and financial institutions we have an obligation (subject to criminal penalty) to disclose to the relevant authority any circumstances that lead us to suspect or believe that the transaction involves money laundering or the use of the proceeds of crime. This means that we must be satisfied to the source of money receive from or by all clients
.We will therefore ask questions about the source of funds & circumstances of the transaction and if not satisfied we are legally obliged to and will make a disclosure to the National Crime Agency before proceeding with the transaction. It is a criminal offence for us not to make this disclosure.
YOU MUST BE AWARE THAT IN THESE CIRCUMSTANCES THE NORMAL RULES OF CLIENT CONFIDENTIALITY DO NOT APPLY.
When we are due to remit proceeds of sale or any other monies to you we shall pay those monies only to you. We will not make payments to third parties of funds which are due to you. If there are matters which you require to settle with third parties from the proceeds of sale or from any other monies received by us on your behalf we will send the money to you to enable you to make direct settlement with the third parties.
- We will provide you with these notes, or at the outset of our actings on your behalf, an Estimate of Fees and Outlays for your transaction. You should bear in mind however that if the case becomes extra-ordinarily complicated or additional work is required our fees and outlays may exceed the estimate. We will normally expect our fees and outlays to be paid in full prior to the completion date. Any estimate given will be for a probable fee based on our experience of the general amount of work involved in a typical transaction of the type involved.
The estimate which we provide for a house purchase or sale transaction will be based upon our anticipation of a straightforward transaction involving the sale or purchase of a property which is already registered in the Land Register of Scotland. It will also anticipate that there have been no unauthorised alterations and that no issues will arise from the Searches which are obtained. In the event of the particular circumstances of the transaction varying from this standard type situation then additional charges will be applied in accordance with our Schedule of Charges for non straightforward matters a copy of which is attached hereto.
Over and above this if the work turns out to be more complex than normal then the estimate will require to be amended. You will be kept advised of any such changes. Unless negotiated and agreed in advance fees are charged on the basis of time spent on the work and an hourly rate of £170 per hour together with an element of responsibility which can vary according to the number of factors such as urgency, importance of the work to you, amount or value of the money or property involved, complexity, difficulty or novelty of the matters, length, number or importance of the documents or papers. When we provide you with our estimate we will detail thereon outlays which would normally be anticipated for a transaction of this type. Outlays and charges which are imposed by outside agencies such a searching fees, Local Authority search fees, registration dues chargeable by the Land Register of Scotland. You should be aware that in certain transactions other outlays may arise in respect of which you will be advised at the time. When we provide you with the original estimate we do so on the basis that any additional outlays will require to be paid by you.
If Land and Buildings Transaction Tax applies to a purchase transaction we shall estimate the relevant payment. If the rate of Land and Buildings Transaction Tax changes between the time at which we made the estimate and the tax becomes payable then we shall, as soon as practicable advise you as to the impact upon you.
You should be aware that if the transaction is likely to be subject to the Additional Dwelling Supplement we will expect you to provide us with all the relevant information in respect of any additional dwellinghouses owned by you. We are relying upon you to be truthful with us in respect of the existence of any other residential properties owned by you which would trigger liability under the Additional Dwelling Supplement rules. Our professional obligations require us to ensure that all tax payable under the Land and Buildings Transaction Tax scheme and the Additional Dwelling Supplement scheme is collected and paid and we will make all necessary disclosures to the Tax Authorities in this respect. In the event of us not having sufficient funds to cover any taxation liability or registration dues payable prior to settlement of the transaction we reserve the right not to complete the transaction until such times as funds are in our hands. We will expect you to provide us with all necessary funding including our fees prior to settlement of the transaction and if you fail to do so settlement will be delayed.
If we are acting in a sale transaction we will expect you to be aware of the amount covered by any secured lending and the amount which will require to be paid to a mortgage lender and/or other secured lender to clear the property of the Charge.
If selling a property we will expect you at the point at which you provide us with instructions to issue the acceptance to have satisfied yourself in general terms as to the amount repayable to the lender including any early redemption or other penalties applicable so as to ensure that the transaction can proceed to settlement. Upon receipt of your instructions in relation to the sale of the property we will request a redemption statement from any mortgage lenders of which we are aware but if it turns out that we have carried out work prior to becoming aware of the fact that there are insufficient funds to clear the secured lending then we reserve the right to seek payment of fees from you to reflect the work carried out. Similarly in the event of there being an Inhibition or other impediment preventing completion of the sale transaction we reserve the right to seek payment of fees and outlays from you in relation to work carried out prior to the failure to complete.
In some cases we may need to incur substantial expense on your behalf before completion of the transaction. In these circumstances we may require you to make a payment to account of fees or outlays.
When we submit a Business Account to you for settlement we will expect to be paid within 14 days. If a bill is not paid in full within that period we may charge you interest on any amount outstanding from the date of the bill until the date the bill is paid at a judicial rate as set from time to time. In the case of commercial clients we reserve the right to claim interest and recovery costs pursuant to the Late Payment of Commercial Debts (Interest) Act 1998 as amended.
If instructions for a piece of work are given to us by more than one person or Company we may recover our fees, disbursements and VAT from any one or more of them on the basis that all of our clients are jointly and severally liable for our fees notwithstanding any agreement between respective clients as to how costs will be shared.
Following completion of the sale transaction and our other actings on your behalf and when we are in receipt of money and due to pay proceeds to you we shall pay these monies over to you within 5 working days unless there are difficulties with obtaining information, say in respect of sums due to other parties by way of loan redemption to secured lenders or expenses to be paid on your behalf to other Solicitors in which case there may be further delay in releasing funds to you. Alternatively an interim payment may be made. If you request us to make payments to a Bank Account by electronic transfer we shall confirm details of the Bank Account with you by telephone. We shall not remit the funds where you have provided us with details by e-mail or in writing until we have been able to confirm verbally with you the account details. If we are unable to confirm the details with you by telephone we will delay remitting the funds to avoid any possibility of identity theft or fraud.
- Our office opening hours are Monday to Friday 9 am to 5 pm. We may close for lunch between 1p.m and 2 p.m. Appointments may, at our option and discretion be made outside these hours.
- We will hold any funds received on your behalf in a general Clients Account. Our main Clients Account is held at Bank of Scotland and we trust you find this to be in order. If you wish your funds to be held in an alternative Client Account you should inform us immediately.
- We operate a case management system which is cloud based. This means that we retain some of the documentation prepared, received or sent out on your behalf in electronic format. In addition we also scan documents which are retained in electronic format and also retain paper copies of certain documents. Our file management system ensures that all correspondence received, issue or scanned on your behalf is retained within the electronic file. A paper file is also operated in most cases. Following completion of our actings on your behalf we may destroy the paper file having retained a scanned copy of the paper file in addition to our electronic case management records. By your acceptance of these terms of business you shall be deemed to have consented to us destroying some original paper work and documents on the basis that electronic copies are retained. The normal rules of care and confidentiality and the storage of clients papers in terms apply to scanned archived material and the firm complies with Law Society Guidance in respect of the scanning and destruction of original documents. If paperwork is being destroyed electronic copies will be retained on closure of the file. While there is a risk that in any subsequent dispute or Court case electronic copies may not have the same evidential value as original documents the policies which follow in relation to record keeping, scanning and retention minimises that risk. We reserve the right to destroy files on completion of the business and do not guarantee any buffer period before such destruction. The cost of this electronic archiving service is charged to you and detailed in our fee estimate and invoices.
With regard to documents covered by Crown copyright we would advise that documents such as Birth, Marriage and Death Certificates will be scanned for filing purposes only and that the scanned copies are not substitutes for the originals and that if further originals are required it may be necessary to obtain extracts from the Registrar. Scanned documentation will when scanned by us be retained in the pdf format. If we retain title deeds and documents on your behalf we may charge for their storage or retrieval and delivery.
- For the avoidance of doubt we will provide advice only on matters upon which we are instructed. We will not provide advice on the taxation implications of any transaction in which we are instructed and if you require advice in respect of such taxation implications you should seek specialist advice from an accountant or tax specialist. We will not provide advice in respect of liability to Income Tax, Capital Gains Tax, Inheritance Tax or any other applicable taxes. We will not provide advice in respect of impact on benefit entitlement of any transaction.
- If a dispute arises after the property transaction has settled, say for example in respect of the working order of mechanical items or the condition of the property or some other issue covered in the contract we will require to charge additional fees in connection with the work arising. If the matter cannot be resolved easily and quickly we may refer you to another Solicitor specialising in contractual litigation to pursue or defend the case on your behalf. That Solicitor is likely to charge fees for the work involved.
- We always aim to make things as smooth as possible and to keep you informed at all times as to developments. If however, at any time you require any further explanation or clarification or merely to be brought up to date as to progress to the transaction please do not hesitate to contact us.
- Our aim is to provide an efficient service, but if you are unhappy about any aspect, then please discuss your concerns in the first instance with the person dealing with you. We have a Clients Relations Manager who, in the event that the concern or complaint cannot be resolved at first instance will meet with you or if preferred communicate with you in writing to establish the nature of the issue and resolve any problems by discussion and agreement. We have a written complaints procedure, a copy of which will be made available to you on request. If the matter cannot be resolved then you are always entitled to refer it to the Scottish Legal Complaints Commission (0131 528 5111) (www.scottishlegalcomplaints.org.uk) who are responsible for receiving all complaints about solicitors.
We recognise that Alternative Dispute Resolution Regulations have implemented ADR/EDR Directive 2013/11/EU to promote alternative dispute resolution as a means of redress for consumers in relation to unsatisfactory services. We have however chosen not to adopt an ADR process, and if you have any concerns about the services you receive from this firm you should contact the firm’s Client Relations Manager.
- As Scottish lawyers regulated by the Law Society of Scotland the law of Scotland governs our relationship with you unless otherwise agreed in writing. We are ordinarily able only to provide advice in relation to the law of Scotland. In the event that we are required to obtain advice on legal matters in other jurisdictions we will seek such advice from any other qualified legal advisers in the relevant jurisdiction.
- Confidentiality. Your business will not be disclosed to any other party without your permission, except in a situation when we are legally compelled to do so.
- Data Protection. We are anxious to ensure compliance with the Data Protection Act 2018 and the General Data Protection Regulation (GDPR) Regulation (UE) 2016/679. Accordingly our Data Protection policies might be summarised as follows:-
We have prepared and published a Privacy Statement on our website. Our Privacy Statement sets out the lawful basis of processing your data (which, in the case of our representing you or acting on your behalf in a legal matter, is the Contract constituted by these Terms of Business/Engagement) and sets out your rights in relation to that data. If you cannot access our website, please ask us to send you a paper or digital copy of our Privacy Statement.
Disclosure of Data to Third Parties
We are bound to protect and keep confidential your data, but inevitably, to enable us to properly represent your interests and conduct business on your behalf, we have to disclose some information to third parties. Some examples of such third parties are other solicitors, the Registers of Scotland, the Courts and Tribunals in Scotland or elsewhere, the Office of the Public Guardian, Insurance Companies, other financial institutions, HMRC and Revenue Scotland. This is not an exhaustive list but merely an indication of the range and extent of third parties to whom your data is disclosed.
We also instruct third parties to process data on our behalf. Where we do so, such third parties are bound by the terms of Article 28 of the GDPR in respect of their data processing contract with us. Our Privacy Statement lists those third parties who will process your personal data on our behalf.
By instructing us, you consent to us disclosing such information as is reasonable and necessary for the purpose of carrying out your instructions.
Data Retention Period
As your solicitor, we will retain your data indefinitely. The reason we do this is that we represent most of our clients across the span of their lifetime and deal with their property, personal and other legal needs. The Law Society of Scotland has published recommended minimum retention periods in respect of different types of legal work and in the event of your wishing to exercise your right of erasure, we will only delete your data if the minimum retention period has been exceeded. Please let us know if you wish to receive details of the minimum retention periods.
Exercise of Right of Erasure (“right to be forgotten”)
In the event that you wish to exercise your right of erasure, we will be pleased to comply with your request provided the last transaction movement or ledger entry of your last transaction or case has exceeded our minimum retention periods. If you wish to exercise your right of erasure you must write to us to advise us of this (we will not accept such instructions verbally or by email or telephone). Your instructions to us must also be signed by all parties involved in a transaction or case.
We act on behalf of many of our clients over many years and, accordingly, we may communicate with you by mail or other electronic means in the future with information that may affect your personal, family, employment or business affairs and explain the potential impact on you. We may also explain our work, experience and services in various areas of the law and offer our services to you as an existing client on special promotional rates. If you do not wish to receive these communications, please let us know. You can do this by letter, phone, email, fax or in person at any time.
- Unforeseen circumstances. If we are unable to perform our obligations to you as a result of circumstances beyond our control (which includes without limitation delays as a result of acts of God, acts of terrorism, civil disturbances and governmental regulations and directions) we shall give you prompt notice of such circumstances or delay. Such delay shall not constitute a breach of our Agreement with you, but if such delay continues for a period in excess of 30 days you shall be entitled to terminate your relationship with us.
It may be from time to time that we shall require to cease acting on your behalf as a result of changes within the organisation or structure of the business. If, for example the Solicitor dealing with your case were to leave the firm and no replacement was in situ we may require to withdraw from acting and advise you to seek the assistance of another Solicitor.
For the purpose of the Consumer Contract (Information, Cancellation and Additional Charges) Regulations 2013 we confirm that in respect of non commercial clients that if your contract with us is an off premises or distance contract you will be deemed to have been given a notice of your right to cancel and cancellation form. No such right to cancel applies to on premises contracts.
You may advise us that you no longer wish us to act for you at any time by letting us know in writing. We may decide to cease acting for you if there is good reason. If you fail to make payment of fees or outlays in time we may cease to act for you. If there is a conflict of interest or if you mislead us or if our relationship with you has broken down to such an extent that we can no longer be expect to reasonably act for you then we will cease to act. In those circumstances we will endeavour to ensure that the outcome of the matter with which you are dealing is not adversely affected by our ceasing to act. You will however be liable for all fees and outlays incurred up to the point at which we have ceased to act.
Where monies are outstanding or a bill is overdue we shall be entitled to retain any files and documents belonging to you until such times as all outstanding monies are paid.
- Where your work is introduced to us by a third party we may make a payment to that third party for services of the third party to the firm. Such payments will be disclosed to you and detailed on the Business Account in accordance with Law Society Regulations.
- Estate Agency business referred to Keys Estate Agency.
We have an arrangement with Keys Estate Agency to whom we may refer you for estate agency services. In those circumstances the estate agency service will be provided by Keys Estate Agency who shall be responsible for the level of service provided and all aspects of the estate agency service and marketing of your property. In those circumstances upon completion of the sale the Business Account in relation to the estate agency services shall be issued by and be payable to Keys Estate Agency Limited. The Estate Agent will on completion of the transaction and settlement of your Account with them make a payment to us by way of a referral or introducer fee for the estate agency business and the anticipated receipt by us of such referral fee is expressly disclosed in terms hereof.
For the avoidance of doubt Keys Estate Agency Limited are a separate Company, are not governed by the Law Society of Scotland but operate in accordance with their own code of conduct. Although Keys are a separate Company we recommend and refer estate agency business to them confident that our clients will receive a high quality estate agency service.
- For the avoidance of doubt our Bank details will not normally be communicated to you electronically. We will not during the course of our actings with you change our Bank Account. This account is the only account to which we may ask you to transfer funds and we would urge you to avoid any risk of being victim to cyber crime to cross reference these details with any request that we make to you to transfer funds. Our concern here is that electronic or other communications may be intercepted and a fraudulent attempt made to persuade you to transfer funds to a different account. We would stress that we will only ask you to transfer funds to the account details sent to you by post and if you receive from us or any third party a request for funds to be transferred to an account which differs in any respect from the account detailed we would expect you to draw this to our attention.
As a firm engaged in the local community we are very much aware of our social responsibility. We make regular donations to Charity and provide support for local events and good causes. In particular our chosen Charity is St. Andrew’s Hospice and we make regular fundraising efforts on their behalf, by participation in events and donations. We hope that our clients will support us in our endeavours and from time to time we may collect donations or encourage sponsorship etc.
Wallace Quinn & Co is a trading name of Wallace Quinn & Co Ltd, Registered in Scotland under Company Number SC331705 having its Registered Office at 21A Barrachnie Road, Garrowhill, Glasgow, G69 6HB.
SCHEDULE OF POTENTIAL ADDITIONAL CHARGES IN NON STRAIGHTFORD CASES
- Arranging Title Indemnity Insurance. Occasionally discrepances arise in respec t of the title of the property being sold. There may be missing documentation such as Matrimonial Homes Act Affidavits or doubt in respect of the extent and nature of the title or servitude and access rights. These problems are often resolved by the obtaining of a Title Indemnity Insurance Policy and the payment of a premium to a Title Indemnity Insurer. The premium will require to be paid by the seller in most instances and over and above that we will impose an additional charge of £95 plus VAT for the work carried out relative to the negotiation of the terms of the Title Indemnity Policy, the finalisation of such terms and conditions with the Title Indemnity Insurer and the payment of the premium.
- Dealing with unauthorised alterations. In the event that the property being sold by our client has been subject to structural alterations which require consent from the Local Authority by way of Planning Permission, Building Warrant or Completion Certificate we will most likely be involved in discussions, investigations and correspondence with the seller, the purchaser’s agents and possibly surveyor. In order to cover the additional costs of such discussions, investigations, advice and any procedures carried out by us and advice in relation to the obtaining of retrospective Consents, Letter of Comfort or Title Indemnity Insurance we will charge an additional fee of £75 plus VAT.
(a) Factor’s retention. If the property is factored and we require to enter into correspondence with the Factor regarding the retention of monies to cover outstanding factoring costs we will charge a fee to cover the correspondence with the Factor, confirmation from the Factor that we have made a retention and correspondence with the Factor in dealing with the release of the retention monies. The fee will be £25 plus VAT.
(b) Sometimes a retention of part of the purchase price requires to be negotiated with a purchaser on behalf of the seller relating to reasons other than Factor’s retentions. This might arise from title issues, outstanding repairs or outstanding Local Athority Notices. In those circumstances we shall render an additional fee of £75 plus VAT to cover the advice to you, correspondence with the purchaser’s Solicitor and/or Surveyor and the further correspondence regarding the release of the retention.
- On occasion a seller requires to provide a Declaration of Solvency either in respect of a previous transaction or in relation to the current transaction if there has been a transfer at less than full market value. This document is required to provide the purchaser and the purchaser’s lenders reassurance in respect of any vulnerability of the transaction to reduction under the law affecting bankruptcy. On those occasions where we require to have executed and deliver a Declaration of Solvency an additional fee of £30 plus VAT will be chargeable.
- New deed plan on sale. Occasionally the description of the property being sold particularly in cases where the title is not already in the Land Register is not sufficient for the purposes of the Land Register. On those occasions we require to arrange on behalf of the seller the preparation of a new deed plan. The new deed plan will be prepared by a Surveyor or a supplier of our choice and that Surveyor or supplier shall render a fee. We shall provide details of the fee cost as the situation arises and the cost of the Surveyor or supplier of the deed plan will vary according to the circumstances and in particular whether or not a site inspection is required. In addition to the outlay incurred to the Surveyor or supplier on those occasions where a new deed plan is required a fee of £50 plus VAT shall be payable.
- Additional Discharges. In most straightforward cases there is only one secured loan or mortgage loan to be discharged. On those occasions when an additional secured loan is in place and requires to be discharged so as to remove reference to it from the Land Register of Scotland an additional fee of £75 plus VAT per Discharge will be levied.
- Discharge of Inhibition. Occasionally sellers of the property may be subject to Inhibitions which relate to old Court Orders or debt. Such Inhibitions require to be discharged before the sale can be completed. On those occasions where we require to discharge the Inhibition we will charge a fee to cover the neogitation with the creditor or the creditor’s Solicitors, preparation or revisal of the Discharge of Inhibition, the obtaining and registration of the Discharge of Inhibition. The additional fee charged will be £95 plus VAT. In addition the Register of Inhibitions on occasions will levy their normal charge for registering the Discharge and this will be detailed as an outlay.
- In those cases where the property being sold is subject to a pre-existing Security, Minute of Agreement or Ranking Agreement in relation to a Shared Equity arrangement, Help to Buy Scheme or similar arrangement entered into by the seller at the time of the purchase of the property this will involve considerable additional work in attending to settlement of the Shared Equity share and obtaining the relevant Discharge. An additional fee of £150 plus VAT shall be payable.
- Sasine Title. The fee estimate we have provided you with will be based upon an anticipation that the property being sold is already subject to registration in the Land Register of Scotland. Occasionally very old titles have not yet been transferred from the Sasine Register in to the Land Register. The sale of the property will trigger such registration but the transaction itself will be slightly more complicated as a result of the reference to the old Sasine title. If the property we are purchasing is registered in the General Register of Sasines as opposed to the Land Register an additional fee of £90 plus VAT will be payable.
- Discrepancies in Coal Authority Reports. In the course of the transaction we shall have exhibited to us by the seller’s Solicitor a Coal Authority Report.
This Coal Athority Report may disclose discrepancies or potential risk arising from previous coal mining activity or mine shafts located close to the property. In such circumstances we shall require to correspond with you, the purchaser, the Surveyor of the property or the lender and consider the terms of a Mine Interpretive Report with a view to resolving the issue. In the event of such circumstances arising and such work requiring to be carried out we will charge an additional fee of £75 plus VAT.
- Discrepancy disclosed in Level 3 Plans Report. As part of the transaction the seller’s Solicitors may require to exhibit to us a Plans Report. In most cases such Plans Reports confirm that the extent of the property occupied by the seller and being sold to you reflects accurately the extent of the property falling within the seller’s title and owned by them. Occasionally however the Plans Report discloses discrepancies between what the seller is proposing to sell to you and what the seller owns. Such discrepancies often require to be resolved and will involve consideration of the Plans Report, the implications of the discrepancy, advising you on the extent of such difficulty and resolving the issue. In these circumstances we will charge an additional fee of £50 plus VAT.
- Gifted Deposit Arrangements. When you are purchasing a property and receiving a gift from friends or family to assist in provision of the deposit we require to report such matters to the mortgage lender involved. In accordance with the Council of Mortgage Lenders Code and Handbook we require to carry out certain procedures which may involve the obtaining of Statements from the third party, the provision of advice to you and the third party and reporting of the matter to the lender. Where a gifted deposit arrangement is in place an additional fee of £25 plus VAT together with £10 for each addition donor shall be charged.
- On those occasions where the purchaser is benefitting from Help to Buy ISAs or multiple Help to Buy ISAs an additional fee of £50 plus VAT per Help to Buy ISA shall be payable.
- In circumstances where following upon the sale of a residential property an application requires to be made for refund of Stamp Duty Land Tax under the Additional Dwelling Supplement Regulations a fee of £50 plus VAT shall be payable.
- A small minority of lenders, such as HSBC, operate a very restricted panel and insist on instructing their own Solicitors to carry out the preparation of the Security. The diligence procedures which are required in such cases often exceed the work which we would normally expect to carry out for a lender when we are instructed. On those occasions where the lender insists upon a third party Solicitor and such additional diligence matters require to be attended to an additional fee of £150 plus VAT shall be payable.