The vendors of the property we are purchasing hired a conveyancing firm in Manchester who has suggested a lock out contract with a payment 10k. Are such arrangements recommended for Manchester conveyancing transactions?
There are a couple of main concerns with entering into any lock out agreement (sometimes known as a shut-out contract) is that it can distract from moving forward with the conveyancing transaction itself, so unless it requires minimal or no negotiation then it could transpire to be unhelpful. It is not promoted amongst Manchester conveyancing solicitors as a result. A further issue is the extent of the remedies available - an aggrieved buyer is not likely to secure an injunction to prohibit the seller disposing of the property to an alternative purchaser, so the only remedy open via the agreement will be the reimbursement of abortive costs and, in restricted circumstances, the additional payment of penalties.
My wife and I have recently appointed a conveyancing solicitor in Manchester. I need to find out whether they are on the Santander approved list of lawyers. Can you help?
You should contact your conveyancer and enquire whether they can act for the lender. Otherwise please get in touch with Santander who may be able to assist.
How does conveyancing in Manchester differ for new build properties?
Most buyers of new build premises in Manchester approach us having been asked by the developer to sign contracts and commit to the purchase even before the property is constructed. This is because developers in Manchester tend to 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 conveyancing solicitors 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 accustomed to new build conveyancing in Manchester or who has acted in the same development.
I opted to have a survey done on a property in Manchester ahead of instructing solicitors. I have been advised that there is a flying freehold element to the house. The surveyor has said that some lenders may not issue a mortgage on a flying freehold premises.
It varies from the lender to lender. Santander has different requirements from Halifax. Should you wish to telephone us we can check with the relevant mortgage company. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Manchester. Conveyancing may be slightly more expensive based on your lender's requirements.
In what way can the Landlord & Tenant Act 1954 affect my business premises in Manchester and how can you help?
The particular law that you refer to affords security of tenure to commercial tenants, granting the dueness to make a request to court for a continuation of occupancy at the end of an expired lease. There are limited grounds where a landlord can refuse a lease renewal and the rules are involved. We are happy to direct you to commercial conveyancing practices who use the act for protection and assist with commercial conveyancing in Manchester