The vendors of the house we are looking to purchase are using a conveyancing practitioner in Hanslope who has suggested a preliminary contract with a deposit 10k. Is it wise to enter into such agreements?

There are two primary downsides with signing a lock out contract (occasionally known as a no-shop agreement) is that it diverts attention away from moving forward with the conveyancing work, so in the absence of it needing minimal or no negotiation then it could transpire to be a hindrance. It is not strongly advocated amongst Hanslope conveyancing solicitors for this reason. A further concern is the extent of the remedies available - an aggrieved purchaser is not likely to be granted an injunctive ruling by a court to prohibit the seller selling to an alternative purchaser, so the only remedy available under the contract will be the reimbursement of abortive costs and, in rare situations, the extra payment of penalties.

The deeds to our property are lost. The conveyancers who dealt with the conveyancing in Hanslope 4 years ago have long since closed. What are my next steps?

As long as you have a registered title the information relating to your ownership will be retained by HMLR under a Title Number. It is easy to execute a search at the Land Registry, locate your property and obtain current copies of the Registered Entries for a small fee. If the property is Leasehold then the Land Registry will in most cases hold a certified duplicate of the Registered Lease and again, a copy can be ordered for £20 inclusive of VAT.

How does conveyancing in Hanslope differ for newly converted properties?

Most buyers of new build premises in Hanslope contact us having been asked by the builder to sign contracts and commit to the purchase even before the house is constructed. This is because new home sellers in Hanslope typically acquire the land, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are used to new build conveyancing in Hanslope or who has acted in the same development.

I was recommended by a number of estate agents in Hanslope to choose a property lawyer on your site. What’s the financial advantage for Estate Agents to promote your lawyers rather than another?

We don’t make any financial incentive for sending work in our direction. We thought it would be too underhand to pay a commission because members of the public would think, ‘How come the agent getting a kickback? Why aren’t I getting any benefit too?’ We would prefer to grow our business on genuine recommendations.

I wish to sublet my leasehold apartment in Hanslope. Conveyancing solicitor who did the purchase is retired - so can't ask him. Is permission from the freeholder required?

Some leases for properties in Hanslope do contain a provision to say that subletting is only permitted with prior consent from the landlord. The landlord is not entitled to unreasonably withhold but, in such cases, they would need to review references. Experience suggests that problems are usually caused by unsatisfactory tenants rather than owner-occupiers and for that reason you can expect the freeholder to take up the references and consider them carefully before granting permission.

I own a ground floor flat in Hanslope, conveyancing formalities finalised half a dozen years ago. Can you please calculate a probable premium for a statutory lease extension? Corresponding flats in Hanslope with an extended lease are worth £197,000. The ground rent is £55 yearly. The lease runs out on 21st October 2081

You have 56 years unexpired we estimate the premium for your lease extension to span between £29,500 and £34,000 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 extending a lease, but we cannot give you the actual costs without more detailed investigations. Do not use the figures in tribunal or court proceedings. There may be other issues that need to be considered and you obviously want to be as accurate as possible in your negotiations. You should not take any other action placing reliance on this information before seeking the advice of a professional.