We have rather assertive sellers who has recommended a lock out agreement with a non-refundable deposit two thousand pounds. Is it wise to enter into such agreements?

There are two main downsides with signing a lock out agreement (occasionally known as an exclusivity agreement) is that it diverts attention away from making progress with the conveyancing process, so unless it requires little or no negotiation then it could turn out to be a hindrance. It is not strongly advocated by Heaton Moor conveyancing lawyers as a result. A supplemental issue is the extent of the remedies available - a jilted purchaser is extremely unlikely to win injunctive relief to prohibit the vendor selling to another buyer, so the only remedy open via the contract will be the recovery of wasted charges and, in limited situations, the additional payment of penalties.

My mortgage company has suggested solicitors on their panel based in Heaton Moor but I would rather use a conveyancing lawyer in Heaton Moor or nearer to where I live. Can you assist?

Far from all Heaton Moor conveyancing practices are on all lender’s conveyancing panel. Please make the most of the above find an approved solicitor tool to choose a Heaton Moor conveyancing firm on the on the bank panel.

I am buying my first flat in Heaton Moor with a loan from Virgin Money. The builders would not budge the price so I negotiated £7000 of extras instead. The house builders rep told me not inform my conveyancer about the side-deal as it could affect my mortgage with the lender. 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.

Should I choose a Heaton Moor conveyancing practitioner in close proximity to the house I am buying? An old friend can execute the conveyancing however they are based 200kilometers away.

The benefit of a local Heaton Moor conveyancing firm is that you can attend the office to execute documents, present your ID and apply pressure on them if necessary. They will also have local intelligence which is a plus. That being said nothing is more important than finding someone that will do a good and efficient job. If if people you trust used your friend and they were impressed that must surpass using an unfamiliar Heaton Moor conveyancing solicitor solely due to them being based in the area.

What advice can you give us when it comes to choosing a Heaton Moor conveyancing firm to carry out our lease extension conveyancing?

When appointing a solicitor for your lease extension (regardless if they are a Heaton Moor conveyancing practice) it is essential that they be familiar with the legislation and specialises in this area of conveyancing. We advise that you make enquires with two or three firms including non Heaton Moor conveyancing practices before you instructing a firm. If the firm is ALEP accredited then that’s a bonus. The following questions might be of use:

How many lease extensions have they carried out in Heaton Moor in the last 12 months?

I inherited a ground floor flat in Heaton Moor, conveyancing was carried out 6 years ago. Can you give me give me an indication of the likely cost of a lease extension? Equivalent properties in Heaton Moor with an extended lease are worth £211,000. The average or mid-range amount of ground rent is £50 invoiced every year. The lease ceases on 21st October 2092

With just 68 years left to run the likely cost is going to span between £9,500 and £11,000 as well as costs.

The figure that we have given is a general guide to costs for renewing a lease, but we are not able to supply a more accurate figure in the absence of comprehensive investigations. You should not use the figures in tribunal or court proceedings. There are no doubt additional issues that need to be considered and clearly you should be as accurate as possible in your negotiations. Please do not take any other action placing reliance on this information before seeking the advice of a professional.