We have very assertive vendors who has recommended a lock out agreement with a down payment of 5k. Are such agreements sensible?

There are two primary downsides with signing a lock out contract (occasionally termed a no-shop agreement) is that it can distract from moving forward with the conveyancing process, so unless it requires minimal or no negotiation then it may turn out to be a cause of frustration and delay. It is not particularly popular by Durrington conveyancing lawyers as a result. The other main concern is the extent of the remedies available - an aggrieved purchaser is very unlikely to secure injunctive relief to bar the owner completing the sale to another buyer, so the only remedy open via the contract will be the recovery of wasted charges and, in restricted circumstances, the additional payment of penalties.

In what way does my ID and proof of funds have anything to do with my conveyancing in Durrington? Why is this being asked of me?

Durrington conveyancing solicitors as well as nationwide property practitioners accross the UK have a duty under Anti-terror and anti-money-laundering rules to verify the ID of any client in order to ensure that clients are who they say they are.

Conveyancing clients will need to supply two forms of certified identification; proof of identity (usually a Passport or Driving Licence) and proof of address (typically a Bank Statement no more than three months).

Evidence of the origin of funds is also necessary under the money laundering laws as solicitors are required to check that the funds you are utilising to buy a property (whether it be the deposit for exchange or the full purchase monies if you are buying mortgage free) has originated from legitimate source (such as an inheritance) and is not the fruits of illegitimate behaviour.

Over the last few months I have been searching for a ground for flat up to £195,000 and identified one near me in Durrington I like with amenity areas and transport links nearby, however it only has 61 remaining years left on the lease. There is not much else in Durrington suitable, so just wondered if I would be making a grave error purchasing a short lease?

If you require a mortgage the remaining unexpired lease term will be an issue. Discount the offer by the anticipated lease extension will cost if not already taken into account. If the current owner has owned the property for a minimum of 2 years you could ask them to start the process of the extension and pass it to you. You can add 90 years to the current lease with a zero ground rent applied. You should speak to your conveyancing lawyer regarding this matter.

I am one month into a freehold purchase having been directed to conveyancers by the estate agent to carry out the conveyancing in Durrington. I am am very dissatisfied with the quality of service. Can you you assist me in finding new lawyers?

A solicitor would have to be very bad in order to consider changing them. Has your mortgage been issued? If so you will need to advise them of the new solicitor and get the offer are re-sent. The conveyancer should be on the lenders approved list to avoid escalating fees and delays. So that should be your first question of the new conveyancers. Our search tool should assist you in finding a bank approved conveyancer for your conveyancing in Durrington

To what extent are Durrington conveyancing solicitors under an obligation to the Law Society to issue clear conveyancing costs?

Inbuilt into the Solicitors Code of Conduct are set rules and regulations as to how the Solicitors Regulation Authority (SRA) allow solicitors to publicise their fees to clients.The Law Society have a practice note giving advice on how to publicise transparent charges to avoid breaching any such rule. Practice notes are not legal advice issued by the Law Society and is not to be interpreted as the only standard of good practice a conveyancing solicitor should adhere to. The Practice Note does, however, constitute the Law Society’s perspective of acceptable practice for publicising conveyancing charges, and accordingly it’s a recommended read for any solicitor or conveyancer in Durrington or beyond.