The owners have very brash vendors who has recommended a exclusivity contract with a down payment 10k. Is it wise to enter into such agreements?

There are two main drawbacks with signing a lock out contract (occasionally referred to as a no-shop agreement) is that it can distract from making progress with the conveyancing process, so in the absence of it needing limited or no negotiation then it could transpire to be a hindrance. It is not strongly advocated by Wolvey conveyancing lawyers for this reason. A further negative is the extent of the remedies available - an aggrieved buyer is extremely unlikely to obtain an injunction to prevent the vendor selling to an alternative purchaser, so the only remedy available under the contract will be the recovery of abortive charges and, in restricted circumstances, the additional payment of damages.

Is it necessary to take out insurance to protect me from financial exposure to chancel repairs when buying a house in Wolvey?

Unless a prior acquisition of the premises took place post 12 October 2013 you could assume that solicitors handling conveyancing in Wolvey to continue to recommend a chancel search and or insurance against a claim.

The deeds to my home can not be found. The solicitors who conducted the conveyancing in Wolvey 10 years ago no longer exist. Will I be able to sell the house?

You no longer need to hold title official documentation to prove you own the land or premises, as the Land Registry have everything they need in a digital format.

I am buying a new build house in Wolvey benefiting from help to buy. The builders would not reduce the amount so I negotiated five thousand pounds worth of additionals instead. The property agent told me not to tell my solicitor about the deal as it may jeopardize my mortgage with the lender. 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.

Harry (my fiance) and I may need to rent out our Wolvey ground floor flat for a while due to taking a sabbatical. We instructed a Wolvey conveyancing practice in 2004 but they have closed and we did not think at the time get any guidance as to whether the lease allows us to sublet. How do we find out?

A lease governs relations between the landlord and you the flat owner; in particular, it will say if subletting is prohibited, or permitted but only subject to certain caveats. The rule is that if the lease contains no expres ban or restriction, subletting is permitted. The majority of leases in Wolvey do not contain strict prohibition on subletting – such a provision would undoubtedly devalue the flat. Instead, there is usually simply a requirement that the owner notifies the freeholder, possibly sending a copy of the tenancy agreement.

I own a basement flat in Wolvey, conveyancing was carried out May 2005. Can you shed any light on how much the price could be for a 90 year extension to my lease? Equivalent properties in Wolvey with over 90 years remaining are worth £186,000. The average or mid-range amount of ground rent is £55 per annum. The lease terminates on 21st October 2076

You have 52 years unexpired we estimate the premium for your lease extension to be between £29,500 and £34,000 plus professional fees.

The suggested premium range above a general guide to costs for extending a lease, but we cannot give you the actual costs in the absence of detailed investigations. Do not use the figures in a Notice of Claim or as an informal offer. There may be additional concerns that need to be taken into account and clearly you should be as accurate as possible in your negotiations. Please do not move forward placing reliance on this information before getting professional advice.