The sellers of the house we are hoping to buy are using a conveyancing solicitor in Askam In Furness who has suggested a lock out agreement with a payment of 5k. Are such agreements sensible?

There are two main concerns with executing a lock out agreement (occasionally referred to as an exclusivity agreement) is that it can distract from progressing with the conveyancing transaction itself, so unless it requires limited or no negotiation then it may transpire to be unhelpful. It is not particularly popular by Askam In Furness conveyancing practitioners as a result. A supplemental negative is the extent of the remedies available - an aggrieved buyer is very unlikely to obtain an injunction to prohibit the vendor disposing of the property to an alternative purchaser, so the only remedy open via the agreement will be the reimbursement of wasted charges and, in rare situations, the additional payment of damages.

My friend recommended that where I am buying in Askam In Furness I should ask my conveyancer to execute a Neighbourhood, Planning and Local Amenity Search. What does it cover?

A search of this type is occasionally quoted for as part of the standard Askam In Furness conveyancing searches. It is not a small document of more than thirty pages, listing and setting out important information about Askam In Furness around the property and the people living there. It includes an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the Askam In Furness Housing Market, Council Tax Banding, the type of People living in the area, the dominant type of Housing, the Average House Prices, Crime details, Askam In Furness Education with maps and statistics, Local Amenities and other useful information regarding Askam In Furness.

The estate agent has sent us the confirmation of our purchase of a new build flat in Askam In Furness. Conveyancing is daunting at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build legal work.

Here is a sample of a few leasehold new build enquiries that you should expect your new-build leasehold conveyancing in Askam In Furness

Will control of the Management Company (if any) be handed over to purchasers on completion of the last sale or earlier? Has the Lease plan been approved by the Land Registry and if not when will they be lodged for this purpose? Where there is an Undertaking being granted there is the risk of forfeiture of the Headlease subject to relief if one or more of the Underlessees are willing to accept the original Head Lessee’s obligations as otherwise relief will be denied to the Underlessees. The only alternatives are the Head Lessor agreeing not to forfeit the Headlease or the Head Lessee guaranteeing to the Underlessees that it will not be in breach of the Headlease. Will the freehold then be transferred for a nominal consideration (not exceeding £100) to the Management Company?

Given that I am about to spend 450k on a garden flat in Askam In Furness I wish to talk to a conveyancer concerning thehouse move in advance of appointing the firm. Is this something that you can arrange?

We could not agree more - we would be delighted to talk to you we do not take any clients on without you speaking to the solicitor due to be doing your property ownership legalities in Askam In Furness.There is no ‘factory style conveyancing’ - each client is an important person, not a matter reference. The practices that we put you in touch with believe that the fees you are quoted for residential conveyancing in Askam In Furness should be the figure that you end up paying.

Can you offer any advice when it comes to appointing a Askam In Furness conveyancing firm to deal with our lease extension?

If you are instructing a solicitor for lease extension works (regardless if they are a Askam In Furness conveyancing practice) it is imperative that he or she should be familiar with the legislation and specialises in this area of work. We suggest that you speak with several firms including non Askam In Furness conveyancing practices prior to instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. The following questions might be useful:

How many lease extensions have they completed in Askam In Furness in the last 12 months? How familiar is the practice with lease extension legislation?

I purchased a garden flat in Askam In Furness, conveyancing having been completed 9 years ago. Can you please calculate a probable premium for a statutory lease extension? Comparable properties in Askam In Furness with over 90 years remaining are worth £201,000. The ground rent is £45 levied per year. The lease comes to an end on 21st October 2088

With only 64 years left to run we estimate the price of your lease extension to span between £14,300 and £16,400 as well as plus your own and the landlord's "reasonable" professional fees.

The suggested premium range that we have given is a general guide to costs for renewing a lease, but we cannot give you a more accurate figure without more comprehensive due diligence. Do not use this information in a Notice of Claim or as an informal offer. There are no doubt additional issues that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. Neither should you move forward placing reliance on this information before seeking the advice of a professional.