The owners have rather assertive sellers who has suggested a lock out contract with a payment 10k. Is it wise to enter into such agreements?

There are two main concerns with executing a lock out agreement (occasionally termed a no-shop agreement) is that it can distract from moving forward with the conveyancing process, so unless it requires little or no negotiation then it may transpire to be a hindrance. It is not promoted amongst Kensal Green conveyancing lawyers as a result. A supplemental negative is the extent of the remedies available - a jilted buyer should not expect to be issued with injunctive relief to bar the seller completing the sale to a third party, so the only remedy available under the agreement will be the reimbursement of abortive charges and, in rare scenarios, the additional payment of damages.

I am buying a house and require a conveyancing solicitor in Kensal Green who is on the Britannia approved. Could you point me in the right direction as regards a conveyancing firm?

Our service is limited to being a directory service for firms who wish to listed as being on the approved conveyancing panel for Britannia in certain locations such as Kensal Green. We dont recommend any particular firm.

Will my lawyer be asking questions about flooding as part of the conveyancing in Kensal Green.

The risk of flooding is if increasing concern for conveyancers dealing with homes in Kensal Green. Plenty of people will buy a property in Kensal Green, fully expectant that at some time, it may suffer from flooding. However, leaving to one side the physical destruction, where a property is at risk of flooding, it may be difficult to get a mortgage, adequate insurance cover, or sell the premises. There are steps that can be taken during the course of a property purchase to forewarn the buyer.

Conveyancers are not qualified to impart advice on flood risk, however there are a number of searches that may be initiated by the purchaser or on a buyer’s behalf which will give them a better understanding of the risks in Kensal Green. The conventional set of information supplied to a buyer’s lawyer (where the solicitors are adopting what is known as the Conveyancing Protocol) incorporates a standard question of the vendor to find out whether the premises has suffered from flooding. If flooding has previously occurred which is not revealed by the owner, then a purchaser could issue a claim for damages as a result of such an incorrect response. The buyer’s solicitors may also order an environmental report. This should disclose whether there is any known flood risk. If so, further inquiries should be conducted.

How does conveyancing in Kensal Green differ for newly converted properties?

Most buyers of new build property in Kensal Green approach us having been asked by the builder to sign contracts and commit to the purchase even before the property is ready to move into. This is because new home sellers in Kensal Green usually purchase the site, 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 conveyancers 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 Kensal Green or who has acted in the same development.

I am employed by a long established estate agency in Kensal Green where we have experienced a few flat sales jeopardised as a result of short leases. I have been given inconsistent advice from local Kensal Green conveyancing solicitors. Please can you clarify whether the vendor of a flat can commence the lease extension formalities for the purchaser on completion of the sale?

Provided that the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to start the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the buyer need not have to wait 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment has to be done prior to, or at the same time as completion of the disposal of the property.

An alternative approach is to extend the lease informally by agreement with the landlord either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the buyer.

We have reached the end of our tether in negotiating a lease extension in Kensal Green. Can this matter be resolved via the Leasehold Valuation Tribunal?

if there is a absentee freeholder or if there is dispute about what the lease extension should cost, under the Leasehold Reform, Housing and Urban Development Act 1993 it is possible to make an application to the First-tier Tribunal (Property Chamber) to calculate the amount due.

An example of a Lease Extension decision for a Kensal Green property is 85A Chevening Road in August 2013. the Tribunals conclusions resulted in a payment of a premium for the new lease in the sum of £11,211 This case affected 1 flat. The number of years remaining on the existing lease(s) was 84.34 years.