The owners have rather pushy sellers who has insisted on a preliminary agreement with a non-refundable deposit two thousand pounds. Are such contracts appropriate for Crabtree conveyancing transactions?

There are two primary drawbacks with executing a lock out contract (also referred to as a no-shop agreement) is that it can distract from moving forward with the conveyancing process, so in the absence of it needing minimal or no negotiation then it could transpire to be a cause of frustration and delay. It is not strongly advocated by Crabtree conveyancing lawyers for this reason. A supplemental concern is the extent of the remedies available - an aggrieved purchaser is not likely to be issued with an injunction to prevent the vendor completing the sale to a third party, so the only remedy open via the contract will be the recovery of wasted costs and, in rare situations, the additional payment of penalties.

I own a freehold house in Crabtree yet invoiced for rent, why is this and what is this?

It is rare for properties in Crabtree and has limited impact for conveyancing in Crabtree but some freehold properties in England (particularly common in North West England) pay an annual sum known as a Chief Rent or a Rentcharge to a third party who has no other legal interest in the land.

Rentcharge payments are usually between £2.00 and £5.00 per year. Rentcharges date back hundreds of years, but the Rent Charge Act 1977 barred the establishment of fresh rentcharges post 1977.

Old rentcharges can now be redeemed by making a lump sum payment under the Act. Any rentcharges that are still in existence post 2037 will be extinguished.

We are selling our flat in Crabtree. Does my need to be on the conveyancing panel in order to deal with the discharge of my mortgage?

Ordinarily, even if your lawyer is not on the conveyancing panel they can still act for you on your sale. It might be that the lender will not release the original deeds (if applicable and increasingly irrelevant) until after the mortgage is paid off. You should speak to your lawyer directly before you start the process though to ensure that there is no problem as lenders are changing their panel criteria fairly frequently in recent years.

I acquired a studio flat in Crabtree, conveyancing formalities finalised 3 years ago. Can you let me have an estimated range of the fair premium for a lease extension? Comparable flats in Crabtree with an extended lease are worth £165,000. The ground rent is £45 invoiced annually. The lease expires on 21st October 50

With just 50 years remaining on your lease the likely cost is going to span between £36,100 and £41,800 as well as plus your own and the landlord's "reasonable" professional fees.

The figure that we have given is a general guide to costs for extending a lease, but we cannot give you the actual costs in the absence of detailed due diligence. Do not use the figures in a Notice of Claim or as an informal offer. There may be other issues that need to be considered and clearly you should be as accurate as possible in your negotiations. Please do not move forward placing reliance on this information without first getting professional advice.

My wife and I are acquiring a 2 bedroom flat in Crabtree. When we first instructed , they said that they were on all mainstream mortgage company panels. Our mortgage broker emailed today to advise that they are not on the approved list. Should that be true, what should we do? Should we just pick a new that is on their approved list or do we cover the costs for dual representation, with selecting their own preferred .

If you are purchasing a property requiring a mortgage it is usual for the buyer’s solicitors to also represent the mortgage company. In order to act for a bank or building society a has to be on that lender's conveyancing panel. An application has to be made by the to the lender to become a member of the lender's panel and there are increasingly strict criteria which the has to fulfill. Some lenders now insist their panel members to be part of the Law Society’s Conveyancing Quality Scheme. Your should contact to discover if they can apply for membership of their conveyancing panel, but if that is not viable they will instruct their own solicitors to act. You don't have to instruct a firm on 's conveyancing panel as you are at liberty to use your preferred Crabtree lawyers, in which case it will likely add costs, and it may delay matters as you are adding another into the mix.