The vendors of the home we are purchasing are using a conveyancing solicitor in Washwood Heath who has insisted on a lock out agreement with a down payment two thousand pounds. Is it wise to enter into such agreements?

This form of agreement is unusual in Washwood Heath, conveyancers will often direct clients away from them as they divert attention from the primary focus, namely conveyancing and if you end up losing your deposit then the lawyer at best left with an upset client and at worst a litigious one. In addition, there is no assurance that just because the proprietor has executed an exclusivity contract they will sell to you. They may be in contravention of the contract if they receive a big enough incentive to do so because a wronged buyer with the benefit of a lockoutcontract will still be obliged establish consequential losses from the breach and this may not equalise the financial upside that your vendor may secure by reneging on the agreement, no matter how morally unworthy the behaviour is.

Just acquired a detached house in Washwood Heath , how long should it take for the Land Registry to register the transfer to my name? My Washwood Heath conveyancing solicitor works at snail pace, so I want to be certain that my ownership is recorded.

There is nothing unique about conveyancing in Washwood Heath registration formalities. Rather than based on location, timeframes can adjust according to the party submitting the application, whether it is in order and if the Land registry must send notices to any third persons or bodies. At present roughly 80% of such applications are fully addressed within two weeks but occasionally there can be extensive delays. Historically registration takes place after the buyer has moved in to the property so 'speed' is not always primary concern yet where it is urgent that the the registration takes place urgently then you or your lawyers must communicate with the Registry to express the reasoning for an expedited registration.

I'm buying my first flat in Washwood Heath benefiting from help to buy. The builders would not move on the price so I negotiated five thousand pounds worth of additionals instead. The sale representative advised me not to tell my lawyer about the extras as it would adversely affect my loan with the bank. Should I keep quiet?.

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.

I work for a reputable estate agency in Washwood Heath where we have experienced a few leasehold sales derailed as a result of short leases. I have been given contradictory information from local Washwood Heath conveyancing solicitors. Could you shed some light as to whether the vendor of a flat can instigate the lease extension formalities for the purchaser on completion of the sale?

Provided that the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to commence the lease extension process and assign the benefit of the notice to the purchaser. This means that the proposed purchaser can avoid having to wait 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment has to be done before, or at the same time as completion of the sale.

Alternatively, it may be possible to agree the lease extension with the freeholder either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the purchaser.

I own a studio flat in Washwood Heath, conveyancing formalities finalised March 1996. Can you let me have an estimate of the premium that my landlord can legally expect in return for granting a renewal of my lease? Equivalent properties in Washwood Heath with over 90 years remaining are worth £227,000. The average or mid-range amount of ground rent is £50 invoiced annually. The lease finishes on 21st October 2096

You have 72 years unexpired the likely cost is going to be between £9,500 and £11,000 plus professional fees.

The figure that we have given is a general guide to costs for renewing a lease, but we cannot give you a more accurate figure without more comprehensive due diligence. Do not use this information in a Notice of Claim or as an informal offer. There are no doubt other concerns 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.

My wife and I are acquiring a ground floor flat in Washwood Heath. At the point of instructing our property lawyer, we were told they were on all major UK mortgage company panels. Our financial adviser emailed yesterday to say that they don't seem to be on the Nottingham approved list. If it turns out to be true, what should we do? Should we simply choose a new solicitor that is on their panel or do we cover the costs for separate representation, with Nottingham appointing their own approved property lawyer.

When buying a property with the benefit of a mortgage it is standard for the buyer’s lawyers to also act for the purchaser's lender. In order to act for a bank or building society a solicitor has to be on that lender's list of approved lawyers. An application has to be made by the conveyancing practitioner to the lender to become a member of the lender's panel and there are increasingly strict conditions which the conveyancer has to fulfill. Some building societies now require their panel firms to be part of the Law Society’s Conveyancing Quality Scheme. Your property lawyer should contact Nottingham and see if they can apply for membership of their conveyancing panel, but if that is not viable they will instruct their own solicitors to act. You are not legally obliged to appoint a law firm on Nottingham's conveyancing panel and you may continue to use your own Washwood Heath solicitors, in which case your legal fees may increase, and it may delay matters as you have another set of people involved.