The sellers of the property we are purchasing have appointed a conveyancing solicitor in Highbridge who has insisted on a exclusivity contract with a deposit 10k. Is it wise to enter into such agreements?

Lock out contracts are contracts between a property vendor and prospective buyer granting the buyer a ‘clear field’ to purchase the premises for a set period of time. For all intents and purposes, a lock out agreement is a contract stating that you will have a contract at a later date being the contract for the actual sale. It tends to be used for buyer confidence though in many situations, the seller may enjoy an upside from such agreements as well. There are various positives and negatives to using an agreement but you should to check with your conveyancer but beware that it may end up costing you more in conveyancing fees. For this these agreements are not popular in relation to conveyancing in Highbridge.

I own a freehold premises in Highbridge yet pay rent, why is this and what is this?

It is rare for properties in Highbridge and has limited impact for conveyancing in Highbridge 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 generation of fresh rentcharges post 1977.

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

Just had an offer accepted on a new build apartment in Highbridge. Conveyancing is necessary evil at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build conveyancing.

Set out below are examples of a selection of leasehold new build questions that you may expect your new-build leasehold conveyancing in Highbridge

The Landlord must covenant to assume the management if the Management Company goes into liquidation or otherwise defaults in running the management scheme. Investor purchasers must be able to freely grant unsecured tenancies at market rents without requiring any consents. Forfeiture - bankruptcy or liquidation must not apply under this provision. Where service of notices and proceedings can be at the property demised please confirm that this can be amended to include simultaneous services at the Lessees’ solicitors’ offices where the Lessee from time to time is not resident in the UK - such solicitors may be varied by notice in writing to the Landlord from time to time but otherwise will be as previously specified. The Lease must contain a provision on behalf of the Vendor to pay the service charges in respect of unoccupied units in order to ensure that all services can be provided.

Due to the guidance of my in-laws I had a survey completed on a property in Highbridge before instructing lawyers. I have been informed that there is a flying freehold overhang to the house. The surveyor has said that some banks tend refuse to issue a mortgage on a flying freehold home.

It varies from the lender to lender. HSBC has different requirements from Nationwide. If you contact us we can check with the appropriate bank. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Highbridge. Conveyancing may be slightly more expensive based on your lender's requirements.

Is it true that a Highbridge conveyancing practice taken to court by clients for failing to conduct comprehensive conveyancing searches?

We are not aware of such a Highbridge conveyancing matter but according to a recent report, a couple acquiring a house elsewhere in England successfully sued their due to development plans to build a wind farm failing to be picked up in conveyancing searches.

Where you are contemplating buying a home in Highbridge It is critical that your carry out all Highbridge conveyancing searches necessary making sure that you have relevant and current information before purchasing a home in Highbridge.