We have rather assertive vendors who has suggested a lock out agreement with a down payment 10k. Is it wise to enter into such agreements?

There are two main downsides with entering into any lock out agreement (also known as a shut-out contract) is that it diverts attention away from making progress with the conveyancing transaction itself, so unless it requires little or no negotiation then it could turn out to be a cause of frustration and delay. It is not particularly popular by Portland conveyancing practitioners for this reason. A further negative is the extent of the remedies available - a jilted buyer is very unlikely to be granted an injunctive ruling by a court to bar the vendor disposing of the property to a third party, so the only remedy available under the contract will be the reimbursement of abortive costs and, in limited scenarios, the extra payment of damages.

I am about to put an offer on a leasehold apartment in Portland. The estate agents tell me that it is normal for flats in Portland to have less than 75 years left on the lease. I am obtaining a loan with Platform. Is this going to be acceptable if the lease has 69 years to go.

Most leasehold conveyancing experts should be able to deal with a lease extension. if you are getting a mortgage then your lender may insist that the lease be extended before competition. Platform have specific requirements as set out in the UK Finance Lenders’ Handbook in relation to minimum unexpired lease terms. As of 18/11/2024 the requirements read as follows :

I am due to move home in December. Should my conveyancing solicitor update the removal company on the completion day. On a separate note, can you put forward a removal company in Portland. Conveyancing solicitor was chosen prior to coming across this page.

On the afternoon of completion you will need to collect the keys from your estate agent however this should only occur once the vendors conveyancers advise the agent that the monies to complete are in and the keys can be collected. Subsequently you should inform the removal men that they can start moving you in. As a matter of policy we do not suggest a particular removal organisation but can help you choose a residential property solicitor in Portland or a firm with expertise in conveyancing in Portland.

Is it the case that all Portland solicitor practices on the Co-operative conveyancing panel are overseen by the Solicitors Regulatory Authority?

As a firm of solicitors, in order to be on the Co-operative approved list of solicitors they would need to be governed by the Solicitors Regulatory Authority. Some banks do permit licenced conveyancers on their panel and in that case the practice would be governed by the Council of Licensed Conveyancers.

How can we tell if a Portland conveyancing solicitor on the Principality panel is any good?

When it comes to conveyancing in Portland obtaining recommendations is a sensible starting point. Before you go ahead, check if they offer a no sale no fee offer. Also, you often get what you pay for - a firm which quotes more, will often provide a better service than one advertising the lowest fees. We would always advise that you speak with the lawyer carrying out your conveyancing.

I am buying my first flat in Portland with a loan from Leeds Building Society. The builders refused to reduce the amount so I negotiated 6k of additionals instead. The sale representative told me not reveal to my lawyer about this deal as it may affect my mortgage with the bank. Is this normal?.

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.

How do I identify a Portland law firm on the Norwich and Peterborough Building Society conveyancing panel? I drive a motor bike and am willing to travel upto 25miles to meet the conveyancer.

Feel free to make use of the tool on this page. Please choose the mortgage company and your location and you will see a number of Portland conveyancing lawyers locally. We have detailed some Portland conveyancing firms at the bottom of this page and you can contact them to check whether they are on the Norwich and Peterborough Building Society member panel