The sellers of the property we are purchasing are using a conveyancing firm in Narborough who has insisted on a lock out contract with a payment of 5k. Is it wise to enter into such agreements?

Exclusivity agreements are contracts binding a home vendor and purchaser giving the buyer exclusive rights to the sale of the property within a prescribed time frame. For all intents and purposes, a lock out agreement is a contract specifying that you should have a contract at a later time which is the main conveyancing contract. It is generally used for buyer assurance though in some cases, the vendor may enjoy an upside from such agreements as well. There are various positives and negatives to having them but you should to check with your lawyer but beware that it may result in costing you extra in conveyancing charges. In light of these reasons these contracts are not popular in relation to conveyancing in Narborough.

We are hoping to buy a 1 bedroom flat in Narborough with a residential mortgage from Skipton Building Society.We have a Narborough conveyancing lawyer but Skipton Building Society says she’s not on their "panel". It seems we have little choice but to instruct a Skipton Building Society panel firm or keep our preferred solicitor and fork out for a Skipton Building Society panel lawyer to act for them. We feel as though this is unjust; is there anything we can do?

No, not really. The mortgage offered to you contains various provisions, a common one being that conveyancers needs to be on the Skipton Building Society conveyancing panel. Until recently, most mortgage companies had large numbers of law firms on their panels: a borrower could choose one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. A further alternative is for your lawyer to apply to be on the conveyancing panel for Skipton Building Society

I have been told that property searches are the main reason for hinderance in Narborough conveyancing transactions. Is this right?

The Council of Property Search Organisations (CoPSO) published determinations of a review by MoveWithUs that conveyancing searches do not figure amongst the top 10 causes of hindrances during the legal transfer of property. Local searches are not likely to be the root cause of holding up conveyancing in Narborough.

I am buying a new build apartment in Narborough. Conveyancing is necessary evil at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build legal work.

Set out below are examples of a selection of leasehold new build questions that you can expect your new-build leasehold conveyancing in Narborough

Investor purchasers must be able to freely grant unsecured tenancies at market rents without requiring any consents. Where there is an Undertaking being granted there is the risk of forfeiture of the Headlease subject to relief if one or more of the Underlessees are willing to accept the original Head Lessee’s obligations as otherwise relief will be denied to the Underlessees. The only alternatives are the Head Lessor agreeing not to forfeit the Headlease or the Head Lessee guaranteeing to the Underlessees that it will not be in breach of the Headlease. Will the freehold then be transferred for a nominal consideration (not exceeding £100) to the Management Company? The Lease must contain a provision on behalf of the Vendor to pay the service charges in respect of unoccupied units in order to ensure that all services can be provided. Please confirm the Lease plans are architect prepared.

In what way does the Landlord & Tenant Act 1954 affect my commercial offices in Narborough and how can your lawyers assist?

The particular law that you refer to affords protection to business leaseholders, granting the dueness to apply to court for a new tenancy and continue in occupation at the end of the lease term. There are limited grounds where a landlord can refrain from granting a lease renewal and the rules are complicated. We are happy to direct you to commercial conveyancing firms who use the act for protection and help with commercial conveyancing in Narborough