The owners of the property we are hoping to buy hired a conveyancing practitioner in Beaminster who has recommended a preliminary agreement with a payment of 5k. Are such agreements sensible?

Exclusivity agreements are agreements between a home vendor and prospective buyer granting the buyer a ‘clear field’ to purchase the premises within an agreed time frame. Essentially, an exclusivity is a document specifying that you will receive a contract at a later time being the main conveyancing contract. It tends to be utilised for buyer confidence though in many situations, the owner may enjoy an upside from such agreements as well. There are many pros and cons to using an agreement but you should to check with your conveyancer but note that it may result in costing you more in conveyancing fees. In light of this these agreements are avoided when it comes to conveyancing in Beaminster.

I am purchasing my first flat in Beaminster with the aid of help to buy. The builders would not reduce the price so I negotiated five thousand pounds worth of fixtures and fittings instead. The property agent suggested that I not inform my conveyancer about this deal as it may jeopardize my loan with Leeds Building Society. Is this normal?.

All lenders require a Disclosure of Incentives Form from the builder of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.

Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.

Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.

Am I best advised to choose a Beaminster conveyancing solicitor based in the location that I am purchasing? We have a good friend who can perform the legal work but they are based 400miles drive away.

The primary upside of using a high street Beaminster conveyancing firm is that you can pop in to execute documents, deliver your identification documents and apply pressure on them where appropriate. Having local Beaminster know how is a plus. That being said nothing is more important than finding someone that will do a good and efficient job. If other friends have used your friend and they were impressed that should trump using an unfamiliar Beaminster conveyancing solicitor just because they are based in the area.

I am attracted to a two flats in Beaminster both have about forty five years remaining on the leases. Should I regard a short lease as a deal breaker?

There are plenty of short leases in Beaminster. The lease is a right to use the premises for a prescribed time frame. As a lease gets shorter the saleability of the lease reduces and it becomes more costly to acquire a lease extension. This is why it is often a good idea to increase the term of the lease. It is often difficult to sell a property with a short lease as mortgage companies less inclined to grant a loan on such properties. Lease extension can be a difficult process. We advise that you seek professional help from a conveyancer and surveyor with experience in this field.

I am the registered owner of a split level flat in Beaminster, conveyancing formalities finalised March 1996. How much will my lease extension cost? Similar flats in Beaminster with an extended lease are worth £206,000. The ground rent is £45 charged once a year. The lease comes to an end on 21st October 2091

With 66 years remaining on your lease the likely cost is going to be between £12,400 and £14,200 plus legals.

The figure above a general guide to costs for renewing a lease, but we are not able to advice on a more accurate figure in the absence of detailed due diligence. You should not use the figures in tribunal or court proceedings. There are no doubt additional issues that need to be considered and you obviously should be as accurate as possible in your negotiations. You should not take any other action placing reliance on this information without first getting professional advice.

I recently become aware that one of the partners of the law firm acting on the purchase conveyancing in Beaminster is a relative of the seller. Is this permitted?

On the basis that no conflict arises this is permitted. If you are obtaining mortgage finance then the mortgage company may have a say as many mortgage companies have specific requirements concerning this. For example for Halifax Loans as of 5/10/2025, the requirements read as follows :