The owners of the home we are purchasing are using a conveyancing solicitor in Epsom and Ewell who has recommended a preliminary agreement with a deposit of 5k. Are such agreements sensible?

Lock out agreements are contracts between a home seller and purchaser granting the buyer a ‘clear field’ to purchase the premises for a set period of time. Essentially, an exclusivity is a document specifying that you will have a contract at a later date which is the contract for the actual sale. It tends to be utilised for buyer confidence though in some cases, the owner may stand to benefit from such agreements as well. There are various positives and negatives to having an agreement but you should to check with your lawyer but beware that it may result in incurring more in conveyancing charges. For these reasons these contracts are avoided when it comes to conveyancing in Epsom and Ewell.

I am the registered owner of a freehold residence in Epsom and Ewell yet charged rent, why is this and what is this?

It is rare for properties in Epsom and Ewell and has limited impact for conveyancing in Epsom and Ewell 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 have existed for many centuries, but the Rent Charge Act 1977 barred the creation of new rentcharges from 1977 onwards.

Old rentcharges can now be extinguished by making a one off payment under the Act. Any rentcharges that are still in existence in 2037 is to be extinguished.

I require quick conveyancing in Epsom and Ewell as I have pressure to sign on the dotted line inside one month. Luckily I do not require a mortgage. Is it possible to decline from having conveyancing searches to save money and time?

As you are not taking a mortgage you are at liberty not to do searches although no solicitor would advise that you don't. With lots of history conveyancing in Epsom and Ewell the following are examples of what can show up and therefore impact market value: Enforcement Actions, Overdue Charges, Overdue Grants, Railway Schemes,...

Am I right to be concerned about 3rd parties that I am dealing with are recommending a web based conveyancing firm as opposed to a local Epsom and Ewell conveyancing firm?

As is the case with lots of service providers, often suggestions from family and friends can be worth their weight in gold. Yet there are numerous parties with a keen interest in a conveyancing deal; estate agents, mortgage brokers and mortgage companies might all suggest lawyers to appoint. On occasion these solicitors might be known to one of the organisations as being good in their field, but sometimes there behind the scenes commercial relationship behind the endorsement. You are at liberty to appoint your own lawyer. Don't forget that the majority of banks specify a panel list of law firms you are obliged to use for the lender aspect of your conveyancing.

Following months of correspondence we are unable to agree with our landlord on how much the lease extension should cost for our flat in Epsom and Ewell. Does the Leasehold Valuation Tribunal have jurisdiction to calculate the appropriate figures?

Most definitely. We are happy to put you in touch with a Epsom and Ewell conveyancing firm who can help.

An example of a Lease Extension matter before the tribunal for a Epsom and Ewell residence is 33 The Maisonettes Alberta Avenue in June 2014. the Tribunal decided that the premium payable for the grant of a new lease be the sum of £20,680 (Twenty Thousand six hundred and eighty pounds). This case related to 1 flat. The remaining number of years on the lease was 60.43 years.

What makes a Epsom and Ewell lease defective?

Leasehold conveyancing in Epsom and Ewell is not unique. Most leases are unique and drafting errors can result in certain sections are missing. The following missing provisions could result in a defective lease:

A provision to repair to or maintain elements of the property Service charge per centages that don't add up correctly leaving a shortfall

A defective lease will likely cause issues when trying to sell a property primarily because it impacts on the ability to obtain a mortgage on the property. Santander, Coventry Building Society, and Nottingham Building Society all have express requirements when it comes to what is expected in a lease. If a mortgage lender believes that the lease is problematic they may refuse to provide security, obliging the buyer to pull out.