The owners have rather assertive vendors who has recommended a exclusivity contract with a down payment of 5k. Are such arrangements recommended for Hawes conveyancing transactions?

Lock out contracts are contracts binding a property seller and prospective buyer giving the buyer exclusive rights to purchase the premises for a limited period of time. For all intents and purposes, an exclusivity agreement is a contract stating that you should have a contract at a later date being the contract for the actual sale. It tends to be utilised for buyer assurance though in many situations, the proprietor may stand to benefit from such agreements as well. There are numerous pros and cons to having an agreement but you should to check with your lawyer but beware that it may result in incurring extra in conveyancing fees. For this these contracts are not popular when it comes to conveyancing in Hawes.

We note that you have a search directory listing law firms on the Aldermore conveyancing panel. Do companies pay you a referral fee if I retain them for our own conveyancing in Hawes?

We are a listing service only for law firms wishing to communicate if they are on the Aldermore conveyancing panel or other lender panels. We do not charge referral fees to any conveyancer that you subsequently appoint for your conveyancing in Hawes.

is it true that all Hawes solicitor practices on the Santander conveyancing panel are governed by the Solicitors Regulatory Authority?

As solicitors, in order to be on the Santander conveyancing panel they would need to be overseen by the Solicitors Regulatory Authority. Some lenders do allow licenced conveyancers on their panel in which case such organisation would be regulated by the CLC.

I have a mortgage with HSBC for my property in Hawes. Conveyancing was finalised a year ago. Should I wish to rent out the flat and do not currently have a buy-to-let mortgage do I need to remortgage to a buy-to-let mortgage or inform HSBC?

Your original mortgage agreement with HSBC will provide that you need their approval prior to letting out your property as this is likely to be a breach of HSBC’s mortgage conditions. It may be that HSBC will permit you to let out your former home without needing to switch to a buy-to-let mortgage but some lenders will add a surcharge to your mortgage rate to reflect the higher risk. You should contact HSBC directly. You need not do this via a HSBC conveyancing panel solicitor.

Bank of Ireland have agreed my home loan in principle, my offer on a property in Hawes has been agreed to, what happens next?

Your estate agent will need to know who your solicitors are (ensure that the conveyancers are on the bank’s approved list). Call up Bank of Ireland or your broker and complete any appropriate paperwork. Bank of Ireland will appoint a valuer who will get in contact with the selling agent or vendor to schedule an appointment. Once conducted (assuming no problems) it takes on average ten days for the mortgage offer to be issued. Bank of Ireland will issue the offer to you and your conveyancing practitioners. The legal work will then take it’s course according the nature and complexity of the conveyancing in Hawes.

Various online forums that I have come across warn that are a common cause of obstruction in Hawes conveyancing transactions. Is there any truth in this?

The Council of Property Search Organisations (CoPSO) published findings of research by MoveWithUs that conveyancing searches do not feature within the common causes of delays in the conveyancing process. Local searches are not likely to feature in any slowing down conveyancing in Hawes.

I've recently bought a leasehold house in Hawes. Am I liable to pay service charges relating to a period prior to completion of my purchase?

In a situation where the service charge has already been demanded from the previous lessee and they have not paid you would not usually be personally liable for the arrears. However, your landlord may still be able to take action to forfeit the lease. A critical element of leasehold conveyancing for your conveyancer to be sure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.

If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).

I inherited a leasehold flat in Hawes, conveyancing was carried out 10 years ago. Can you please calculate a probable premium for a statutory lease extension? Equivalent flats in Hawes with over 90 years remaining are worth £260,000. The average or mid-range amount of ground rent is £45 invoiced every year. The lease expires on 21st October 2098

With only 74 years left to run the likely cost is going to be between £8,600 and £9,800 as well as costs.

The suggested premium range that we have given is a general guide to costs for extending a lease, but we are not able to supply the actual costs without more detailed investigations. You should not use the figures in tribunal or court proceedings. There may be other concerns that need to be taken into account and clearly you should be as accurate as possible in your negotiations. You should not move forward based on this information before seeking the advice of a professional.