The sellers of the property we are purchasing have appointed a conveyancing firm in Skellingthorpe who has suggested a exclusivity agreement with a deposit of 5k. Are such agreements sensible?

Lock out agreements are contracts between a home vendor and purchaser granting the buyer the sole right to purchase the premises for a set period of time. For all intents and purposes, an exclusivity is a document stating that you will receive a contract at a later time which is 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 numerous positives and negatives to using an agreement but you need to check with your conveyancer but note that it may end up incurring extra in conveyancing charges. In light of this these agreements are not popular when it comes to conveyancing in Skellingthorpe.

I purchased a freehold premises in Skellingthorpe but still charged rent, why is this and what is this?

It is rare for properties in Skellingthorpe and has limited impact for conveyancing in Skellingthorpe but some freehold properties in England (particularly common in North West England) pay an annual sum known as a Chief Rent or a Rentcharge to a third party who has no other legal interest in the land.

Rentcharge payments are usually between £2.00 and £5.00 per year. Rentcharges have existed for many centuries, but the Rent Charge Act 1977 barred the generation of new rentcharges post 1977.

Previous rentcharges can now be extinguished by making a lump sum payment under the Act. Any rentcharges that are still in existence after 2037 will be dispensed with completely.

I'm purchasing my first flat in Skellingthorpe with a loan from Bank of Scotland. The builders refused to reduce the price so I negotiated £7000 of extras instead. The sale representative advised me not inform my solicitor about the side-deal as it will impact my mortgage with the lender. Do I keep my lawyer in the dark?.

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.

In my capacity as executor for the estate of my father I am selling a residence in Monmouth but I am based in Skellingthorpe. My solicitor (who is 200 kilometers from mehas requested that I sign a statutory declaration prior to the transaction finalising. Can you recommend a conveyancing solicitor in Skellingthorpe who can attest this legal document for me?

Technically speaking you should not be required to have the documents attested by a conveyancing solicitor. Normally any notary public or solicitor will suffice regardless of whether they are Skellingthorpe based

I am in need of some leasehold conveyancing in Skellingthorpe. Before I get started I want to be sure as to the number of years remaining on the lease.

If the lease is recorded at the land registry - and most are in Skellingthorpe - then the leasehold title will always include the basic details of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title. For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.

I purchased a garden flat in Skellingthorpe, conveyancing formalities finalised half a dozen years ago. Can you shed any light on how much the price could be for a 90 year extension to my lease? Corresponding properties in Skellingthorpe with over 90 years remaining are worth £185,000. The average or mid-range amount of ground rent is £65 yearly. The lease ceases on 21st October 2087

With only 61 years left to run we estimate the premium for your lease extension to be between £19,000 and £22,000 as well as legals.

The figure that we have given is a general guide to costs for extending a lease, but we cannot give you a more accurate figure without more detailed due diligence. Do not use this information in a Notice of Claim or as an informal offer. There are no doubt additional concerns that need to be considered and clearly you want to be as accurate as possible in your negotiations. Please do not take any other action placing reliance on this information without first seeking the advice of a professional.