We have rather pushy sellers who has suggested a lock out contract with a payment two thousand pounds. Are such agreements sensible?

There are two main concerns with entering into any lock out agreement (also known as a no-shop agreement) is that it diverts attention away from progressing with the conveyancing transaction itself, so unless it requires limited or no negotiation then it may turn out to be unhelpful. It is not strongly advocated amongst Selsey conveyancing solicitors for this reason. A supplemental negative is the extent of the remedies available - an aggrieved buyer is not likely to secure an injunction to prevent the vendor completing the sale to an alternative purchaser, so the only remedy open via the contract will be the recovery of abortive costs and, in rare scenarios, the additional payment of damages.

My fiance and I are purchasing a newly converted flat in Selsey with a homeloan from Skipton Building Society.We like our Selsey conveyancing solicitor but Skipton Building Society informed us his firm is not listed on their "panel". We have to appoint a Skipton Building Society panel firm or retain our local solicitor and pay for one of their panel ones to represent them. This seems very unfair; Can we not simply insist that Skipton Building Society use our lawyer?

Unfortunately,no. The loan offered to you is subject to its terms and conditions, a common one being that conveyancers will be on the Skipton Building Society solicitor panel. in the past, most banks had large numbers of solicitors 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. Another option that might be available is for your solicitors to apply to be on the conveyancing panel for Skipton Building Society

Am I best advised to appoint a Selsey conveyancing practitioner who is local to the property I am purchasing? An old friend can carry out the conveyancing however his firm is located a couple of hundredmiles drive away.

The primary upside of using a high street Selsey conveyancing practice is that you can drop in to execute paperwork, hand in your identification documents and pester them if necessary. They will also have local insight which is a bonus. However nothing is more important than finding someone that will do a good and efficient job. If you know people who instructed your friend and on the whole were impressed that should surpass using an unknown Selsey conveyancing solicitor solely due to them being Selsey based.

What are your top tips when it comes to choosing a Selsey conveyancing practice to carry out our lease extension conveyancing?

If you are instructing a conveyancer for lease extension works (regardless if they are a Selsey conveyancing firm) it is imperative that he or she should be familiar with the legislation and specialises in this area of conveyancing. We recommend that you speak with two or three firms including non Selsey conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then that’s a bonus. The following questions could be useful:

Can they put you in touch with clients in Selsey who can give a testimonial?

I bought a 1 bedroom flat in Selsey, conveyancing formalities finalised half a dozen years ago. Can you work out an approximate cost of a lease extension? Comparable properties in Selsey with a long lease are worth £202,000. The ground rent is £60 invoiced annually. The lease runs out on 21st October 2081

With 57 years unexpired we estimate the premium for your lease extension to span between £28,500 and £33,000 as well as costs.

The suggested premium range that we have given is a general guide to costs for extending a lease, but we are not able to provide the actual costs without more comprehensive due diligence. Do not use the figures in tribunal or court proceedings. There may be other concerns that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. Neither should you move forward based on this information before getting professional advice.

My husband and I are selling a Selsey bungalow we inherited six years ago in 2012. I have over a decades worth of conveyancing know-how and, now retired, wish to carry out the conveyancing. The purchaser's property lawyer has informed me that their building society will not allow us to do our own conveyancing insisting the funds to be sent to a solicitor's bank account.

Mortgage requirements to property lawyers from all CML members state that If the seller is not legally represented the buyer’s lawyers should check whether the bank needs to be told so that a decision can be reached as to whether they are willing to proceed.