We have very brash vendors who has insisted on a preliminary agreement with a deposit 10k. Are such agreements recommended for Stoke Newington conveyancing transactions?

This kind of contract is not the norm in Stoke Newington, conveyancers are not keen on them as they divert attention from the primary focus, namely conveyancing and if you end up having your deposit forfeited then the solicitor is left exposed. Secondly, there is no assurance that just because the seller has signed an exclusivity agreement they will sell to you. They may be in contravention of the agreement if they receive a large enough incentive to do so because a wronged claimant with the benefit of a exclusivity agreement will still be legally obliged to show losses as a consequence of the breach and these may not amount to the extra amount that your vendor may obtain by reneging on the agreement, however morally reprehensible the behaviour is.

I purchased a freehold house in Stoke Newington yet pay rent, why is this and what is this?

It’s unusual for properties in Stoke Newington and has limited impact for conveyancing in Stoke Newington 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 date back hundreds of years, but the Rent Charge Act 1977 barred the generation of fresh rentcharges post 1977.

Old rentcharges can now be redeemed by making a lump sum payment under the Act. Any rentcharges that are still in existence in 2037 will be extinguished.

My partner and I are close to exchanging contracts on the sale of our home in Stoke Newington and the buyers lawyers are claiming that there is a risk of it being constructed on contaminated land. Any high street Stoke Newington lawyer would know this is not the case. For the life of me I don't know why the buyers used an online conveyancing firm rather than a conveyancing solicitor in Stoke Newington. Having lived in Stoke Newington for many years we know that this is a non issue. Is it a good idea to get in touch with our local Authority to seek clarification need.

It would appear that you have a conveyancing firm already. Are they able to advise? You should enquire of your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out life insurance to cover that same illness)

Just had an offer accepted on a new build flat in Stoke Newington. Conveyancing is daunting at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build conveyancing.

Set out below is a sample of a few leasehold new build questions that you may expect your new-build leasehold conveyancing in Stoke Newington

Where there is an Undertaking being granted there is the risk of forfeiture of the Headlease subject to relief if one or more of the Underlessees are willing to accept the original Head Lessee’s obligations as otherwise relief will be denied to the Underlessees. The only alternatives are the Head Lessor agreeing not to forfeit the Headlease or the Head Lessee guaranteeing to the Underlessees that it will not be in breach of the Headlease. Where service of notices and proceedings can be at the property demised please confirm that this can be amended to include simultaneous services at the Lessees’ solicitors’ offices where the Lessee from time to time is not resident in the UK - such solicitors may be varied by notice in writing to the Landlord from time to time but otherwise will be as previously specified. The Lease must contain a provision on behalf of the Vendor to pay the service charges in respect of unoccupied units in order to ensure that all services can be provided. Please supply a car parking plan. Will control of the Management Company (if any) be handed over to purchasers on completion of the last sale or earlier?

I have been on the look out for a leasehold apartment up to £305k and identified one close by in Stoke Newington I like with open areas and transport links in the vicinity, however it only has 51 years on the lease. There is not much else in Stoke Newington for this price, so just wondered if I would be making a grave error acquiring a lease with such few years left?

If you require a home loan the remaining unexpired lease term will likely be an issue. Reduce the offer by the expected lease extension will cost if not already taken into account. If the current owner has owned the property for a minimum of twenty four months you can ask them to commence the lease extension formalities and then assign it to you. You can add 90 years to the existing lease with a zero ground rent applied. You should consult your conveyancing solicitor about this matter.