The owners have very assertive sellers who has suggested a exclusivity contract with a deposit 6,000. Are such agreements sensible?

Lock out contracts are contracts binding a property owner and prospective acquirer granting the buyer the sole right to purchase the property for a certain period of time. Essentially, an exclusivity is a document specifying that you should have a contract at a later date which is the contract for the actual sale. It is generally utilised for buyer protection though in many situations, the proprietor may stand to benefit from such agreements as well. There are numerous pros and cons to using an agreement but you should to check with your lawyer but note that it may end up costing you more in conveyancing charges. For this these contracts are unusual when it comes to conveyancing in Kelvedon.

I purchased a freehold premises in Kelvedon but nevertheless pay rent, why is this and what is this?

It’s unusual for properties in Kelvedon and has limited impact for conveyancing in Kelvedon but some freehold properties in England (particularly common in North West England) pay an annual sum known as a Chief Rent or a Rentcharge to a third party who has no other legal interest in the land.

Rentcharge payments are usually between £2.00 and £5.00 per year. Rentcharges date back hundreds of years, but the Rent Charge Act 1977 barred the creation of fresh rentcharges from 1977 onwards.

Old rentcharges can now be extinguished by making a lump sum payment under the Act. Any rentcharges that are still in existence post 2037 will be dispensed with completely.

How does conveyancing in Kelvedon differ for newly converted properties?

Most buyers of new build residence in Kelvedon approach us having been asked by the builder to sign contracts and commit to the purchase even before the residence is finished. This is because developers in Kelvedon typically buy the land, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancing solicitors as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are accustomed to new build conveyancing in Kelvedon or who has acted in the same development.

My brother has suggested that I instruct his conveyancing solicitors in Kelvedon. Should I use them?

No doubt the ideal way to select a conveyancing solicitor is to seek feedback from friends or family who have previously instructed the conveyancer you're contemplating using.

Having had my offer accepted I require leasehold conveyancing in Kelvedon. Before I set the wheels in motion I require certainty as to the unexpired term of the lease.

If the lease is recorded at the land registry - and most are in Kelvedon - then the leasehold title will always include the short particulars of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title. For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.

I acquired a ground floor flat in Kelvedon, conveyancing formalities finalised April 1999. Can you please calculate a probable premium for a statutory lease extension? Corresponding flats in Kelvedon with over 90 years remaining are worth £185,000. The average or mid-range amount of ground rent is £65 invoiced annually. The lease comes to an end on 21st October 2084

With 60 years unexpired the likely cost is going to be between £20,000 and £23,000 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 advice on a more accurate figure without more detailed investigations. You should not use this information in tribunal or court proceedings. There are no doubt other issues that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. You should not take any other action based on this information without first seeking the advice of a professional.