We have very assertive vendors who has suggested a lock out agreement with a down payment 10k. Is it wise to enter into such agreements?

There are a couple of main downsides with signing a lock out contract (also known as a no-shop agreement) is that it takes away the focus from making progress with the conveyancing work, so in the absence of it needing limited or no negotiation then it may transpire to be a hindrance. It is not strongly advocated by Norwich conveyancing practitioners for this reason. A supplemental issue is the extent of the remedies available - an aggrieved purchaser should not expect to secure an injunctive ruling by a court to prevent the owner selling to a third party, so the only remedy available under the contract will be the reimbursement of abortive charges and, in rare scenarios, the extra payment of damages.

We are planning to purchase with Darlington Building Society. I called into a few local solicitors yet cant to find a Norwich conveyancing firm on the Darlington Building Society approved list. Please you assist?

Feel free to take advantage of the find a lender approved solicitor tool on this web page. Please choose the lender and type Norwich or your preferred area and you will see numerous solicitors located in Norwich or near you.

I am buying a new build house in Norwich with the aid of help to buy. The sellers would not move on the price so I negotiated 6k of fixtures and fittings instead. The sale representative told me not reveal to my conveyancer about the side-deal as it would put at risk my mortgage with the bank. Is this normal?.

All lenders require a Disclosure of Incentives Form from the developer 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.

In surfing the web for the term cheap conveyancing in Norwich it shows results of numerous solicitorsin the vicinity. How do I determine which is the right conveyancer for the sale of my house?

The preferential method of finding a suitable conveyancer is via trusted referral, so enquire of friends and relatives who have acquired a property in Norwich or a reputable estate agent or mortgage broker. Charges for conveyancing in Norwich differ, so it's sensible to secure at least four fee calculations from different property lawyers. Be sure to seek confirmation that the costs are assured not to increase.

What makes a Norwich lease problematic?

Leasehold conveyancing in Norwich is not unique. Most leases are unique and drafting errors can sometimes mean that certain clauses are wrong. For example, if your lease is missing any of the following, it could be defective:

Repairing obligations to or maintain parts of the premises

A defective lease will likely cause issues when trying to sell a property primarily because it impacts on the ability to obtain a mortgage on the property. HSBC Bank, Skipton Building Society, and Barclays Direct all have express requirements when it comes to what is expected in a lease. If a mortgage lender believes that the lease does not cover certain provisions they may refuse to grant the mortgage, forcing the purchaser to pull out.

I own a leasehold flat in Norwich, conveyancing was carried out March 1995. How much will my lease extension cost? Corresponding properties in Norwich with over 90 years remaining are worth £195,000. The ground rent is £45 levied per year. The lease comes to an end on 21st October 2089

With 64 years unexpired we estimate the price of your lease extension to range between £14,300 and £16,400 as well as costs.

The figure above a general guide to costs for renewing a lease, but we are not able to supply the actual costs without more detailed due diligence. You should not use this information in tribunal or court proceedings. There are no doubt other issues that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. Please do not take any other action based on this information without first getting professional advice.