The owners of the house we are looking to purchase have instructed a conveyancing practitioner in City Of London who has insisted on a lock out agreement with a deposit two thousand pounds. Are such arrangements the norm for City Of London conveyancing transactions?

Lock out contracts are contracts between a home vendor and purchaser granting the buyer exclusive rights to the sale of the property for a set period of time. For all intents and purposes, an exclusivity is a document specifying that you will receive a contract at a later date being the main conveyancing contract. It is generally used for buyer confidence though in many situations, the vendor may stand to benefit from such agreements as well. There are numerous pros and cons to having an agreement but you need to check with your conveyancer but beware that it may result in costing you extra in conveyancing fees. In light of this these agreements are unusual when it comes to conveyancing in City Of London.

Over the last few months I have been searching for a leasehold apartment up to £245,000 and found one close by in City Of London I like with open areas and railway links in the vicinity, the downside is that it's only got 51 years on the lease. I can't really find anything else in City Of London suitable, so just wondered if I would be making a grave error purchasing a lease with such few years left?

If you require a home loan that many years may be problematic. Discount the price by the amount the lease extension will cost if not already taken into account. If the existing owner has owned the premises for a minimum of twenty four months you could ask them to commence the lease extension formalities and pass it to you. You can add 90 years to the existing lease term with a zero ground rent applied. You should speak to your conveyancing lawyer concerning this.

In searching the web for the term cheap conveyancing in City Of London it reveals many conveyancerslocally. How do I determine which is the right conveyancing solicitor for my move?

The ideal method of choosing the right conveyancer is through a trusted referral, so seek the guidance of colleagues and family who have acquired a property in City Of London or a local estate agent or financial adviser. Charges for conveyancing in City Of London differ, so it's sensible to obtain a minimum of four fee estimates from varying types of property lawyers. Dont forget to clarify that the fees are fixed.

Jane (my partner) and I may need to sub-let our City Of London ground floor flat temporarily due to a new job. We instructed a City Of London conveyancing practice in 2002 but they have closed and we did not have the foresight to get any guidance as to whether the lease permits subletting. How do we find out?

Notwithstanding that your previous City Of London conveyancing lawyer is not available you can review your lease to see if you are permitted to let out the apartment. The accepted inference is that if the lease is non-specific, subletting is permitted. There may be a precondition that you must obtain permission from your landlord or other appropriate person before subletting. The net result is that you cannot sublet in the absence of first obtaining permission. Such consent is not allowed to be unreasonably withheld. If your lease prohibits you from subletting the property you will need to ask your landlord for their consent.

I am the registered owner of a 1st floor flat in City Of London, conveyancing having been completed 8 years ago. Can you let me have an estimated range of the fair premium for a lease extension? Similar properties in City Of London with over 90 years remaining are worth £190,000. The ground rent is £45 levied per year. The lease expires on 21st October 2087

With 62 years left to run we estimate the price of your lease extension to span between £17,100 and £19,800 plus plus your own and the landlord's "reasonable" professional fees.

The suggested premium range above a general guide to costs for extending a lease, but we cannot give you a more accurate figure in the absence of comprehensive due diligence. You should not use this information in a Notice of Claim or as an informal offer. There may be additional issues that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. You should not take any other action placing reliance on this information without first seeking the advice of a professional.

My brother completed his conveyancing in City Of London ten years ago. He has got wed, widowed and in recent months got married again. He will be selling the apartment in a few months. I suspect that he will simply be need to provide a copy of the marriage certificates to the conveyancer however he is worried it could delay the home move. Should he instruct a solicitor to update the title details for the house?

The is no need to bring up to date the title for the property on the basis that you have the proof required to demonstrate how the change of name has come about.

Any buyer’s solicitor should check the title details and requisition evidence by way of proof of the name change for instance marriage documentation.