The owners have rather brash vendors who has recommended a preliminary contract with a down payment of 5k. Are such agreements sensible?

There are a couple of main concerns with executing a lock out contract (sometimes known as an exclusivity agreement) is that it can distract from making progress with the conveyancing transaction itself, so in the absence of it needing minimal or no negotiation then it may turn out to be unhelpful. It is not particularly popular by West Dulwich conveyancing solicitors for this reason. A further negative is the extent of the remedies available - an aggrieved purchaser is not likely to be issued with an injunctive ruling by a court to prohibit the owner selling to a third party, so the only remedy available under the agreement will be the reimbursement of wasted charges and, in rare situations, the extra payment of penalties.

Can you clarify what the consequences are if my solicitor is removed from the Nationwide Conveyancing panel ahead of completing my conveyancing in West Dulwich?

First, this is very unlikely to happen. In most cases even where a law firm is removed off of a panel the lender would allow the completion to go ahead as the lender would appreciate the difficulties that they would place you in if you have to instruct a new solicitor days before completion. In a worst case scenario where the lender insists that you instruct a new firm then it is possible for a very good lawyer to expedite the conveyancing albeit that you may pay a significant premium for this. The analogous situation is where a buyer instructs a lawyer, exchanges contracts and the law firm is shut down by a regulator such as the SRA. Again, in this situation you can find lawyers who can troubleshoot their way to bring the conveyancing to a satisfactory conclusion - albeit for a fee.

The estate agent has sent us the confirmation of our purchase of a new build apartment in West Dulwich. Conveyancing is a frightening process 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 legal work.

Set out below are examples of a selection of leasehold new build questions that you can expect your new-build leasehold conveyancing in West Dulwich

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. 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. Please supply a car parking plan. The Landlord must covenant to assume the management if the Management Company goes into liquidation or otherwise defaults in running the management scheme. Will the freehold then be transferred for a nominal consideration (not exceeding £100) to the Management Company?

Yesterday I discovered that there is a flying freehold element on a house I put an offer in last month in what should have been a straight forward, no chain conveyancing. West Dulwich is where the house is located. What do you suggest?

Flying freeholds in West Dulwich are rare but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside West Dulwich you would need to get your solicitor to go through the deeds thoroughly. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in West Dulwich may decide that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold premises.

My nephew is embarking on her first house purchase, he had his mortgage in principle. When the offer was accepted on flat we telephoned the mortgage company to progress the mortgage application. We were very surprised to discover that mortgage lenders do not accept all solicitor, they have to be on a list, is this right?

Banks normally imposes restrictions either the type or the number of conveyancing solicitors on their panel. A common example of such restriction(s) being that a firm must have two or more partners. In addition to restricting the type of firm, some have decided to limit the number of firms they use to represent them. You should note that banks have no responsibility for the quality of advice provided by any West Dulwich conveyancing practitioner on their panel. Mortgage fraud was a key driver in the rationalisation of conveyancing panels a few years ago and whilst there are differing views about the extent of solicitor involvement in some of that fraud. Statistics from the Land Registry reveal that thousands of law firms only carry out one or two conveyances a year. Those supporting conveyancing panel cuts ask why law firms should have the right to be on a Lender panel when clearly, conveyancing is not their speciality. To put it another way; would you want a conveyancing solicitor to represent you if you were charged with a crime? Unlikely.