The vendors of the house we are purchasing hired a conveyancing practitioner in Wylam who has suggested a lock out agreement with a non-refundable deposit of 5k. Is it wise to enter into such agreements?

There are two primary downsides with signing a lock out agreement (also referred to as an exclusivity agreement) is that it can distract from progressing with the conveyancing work, so in the absence of it needing minimal or no negotiation then it could transpire to be unhelpful. It is not strongly advocated by Wylam conveyancing solicitors for this reason. A supplemental negative is the extent of the remedies available - a jilted purchaser should not expect to obtain an injunctive ruling by a court to prohibit the seller completing the sale to another buyer, so the only remedy open via the contract will be the reimbursement of abortive costs and, in restricted situations, the additional payment of penalties.

Just bought a terraced house in Wylam , What is the estimated time for the Land Registry to deal with the formalities evidencing the transfer to my name? My Wylam conveyancing solicitor has been painfully slow, so I want to be sure that my purchase is registered.

There is nothing unique when it comes to conveyancing in Wylam registration formalities. As opposed to being determined by geographic area, timeframes can vary depending on the party submitting the application, whether it is in order and whether the Land registry communicate with any third parties. Currently approximately three quarters of submission are completed within 12 days but some can be subject to protracted hold-ups. Registration is effected once the purchaser is living at the property so registration formalities is not always an essential issue but if there is a degree of urgency associated with the registration then you or your solicitor must communicate with the Registry to express the reasoning for an expedited registration.

I've recently found out that there is a flying freehold element on a house I put an offer in two weeks back in what was supposed to be a quick, chain free conveyancing. Wylam is where the house is located. Is there any advice you can give?

Flying freeholds in Wylam are not the norm but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Wylam you must be sure that your lawyer goes through the deeds thoroughly. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Wylam may decide that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold property.

I need to appoint a conveyancing solicitor for remortgage conveyancing in Wylam. I've stumble upon a site which looks to be the perfect offering If there is a chance to get all formalities done via web that would be preferable. Do I need to be concerned? What are the potential pitfalls?

As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?

What are your top tips when it comes to appointing a Wylam conveyancing practice to deal with our lease extension?

When appointing a property lawyer for your lease extension (regardless if they are a Wylam conveyancing practice) it is essential that he or she should be familiar with the legislation and specialises in this area of conveyancing. We advise that you make enquires with several firms including non Wylam conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then so much the better. The following questions might be useful:

How familiar is the firm with lease extension legislation?

I bought a leasehold flat in Wylam, conveyancing formalities finalised February 2002. Can you shed any light on how much the price could be for a 90 year extension to my lease? Corresponding properties in Wylam with over 90 years remaining are worth £206,000. The ground rent is £45 charged once a year. The lease runs out on 21st October 2090

With 66 years unexpired we estimate the price of your lease extension to span between £12,400 and £14,200 plus costs.

The figure above a general guide to costs for extending a lease, but we are not able to provide the actual costs in the absence of comprehensive investigations. Do not use this information in tribunal or court proceedings. There are no doubt other concerns that need to be considered and you obviously should be as accurate as possible in your negotiations. You should not take any other action based on this information without first seeking the advice of a professional.