We have very pushy vendors who has recommended a preliminary agreement with a deposit two thousand pounds. Are such agreements sensible?

Lock out agreements are contracts between a property vendor and purchaser granting the buyer the sole right to purchase the property for a limited period of time. For all intents and purposes, a lock out is a document stating that you should have a contract at a later time being the main conveyancing contract. It is generally utilised for buyer assurance though in many situations, the proprietor may enjoy an upside from such agreements as well. There are numerous positives and negatives to having an agreement but you should to check with your conveyancer but note that it may result in incurring extra in conveyancing charges. In light of this these contracts are unusual in relation to conveyancing in St George.

is it true that all St George solicitor firms on the Barclays conveyancing panel are overseen by the SRA?

As a firm of solicitors, in order to be on the Barclays approved list of solicitors they would need to be regulated by the Solicitors Regulatory Authority. Some lenders do permit licenced conveyancers on their panel in which case such firms would be governed by the CLC.

We previously selected solicitors based in St George on the Kent Reliance solicitor approved list. They are now charging me a separate charge for the legal aspects of the Kent Reliance mortgage. Is this an additional conveyancing fee specified by Kent Reliance?

Unfortunately, so long as it is in their Terms of Engagement or estimate then yes your solicitor may charge a fee for this. This fee is not dictated by Kent Reliance but by your St George property lawyer. Some firms on the Kent Reliance panel will levy an ‘acting for lender’ fee but some practices include it on their overall fee.

I currently have a mortgage with Virgin Money for my property in St George. Conveyancing was finalised a year ago. Should I wish to rent out the flat and do not currently have a buy-to-let mortgage do I need to remortgage to a BTL mortgage or inform Virgin Money?

You must advise Virgin Money before letting out your property as this is likely to be a breach of Virgin Money’s mortgage conditions. It may be that Virgin Money will permit you to let out your former home without needing to switch to a buy-to-let mortgage but some lenders will add a surcharge to your mortgage rate to reflect the higher risk. You should contact Virgin Money directly. You need not do this via a Virgin Money conveyancing panel firm.

Given that I will soon part with over three hundred thousand on a two bedroom apartment in St George I wish to have a conversation with the solicitor concerning thehome move in advance of instructing the firm. Can this be arranged?

We could not agree more - it is our preference to talk to you we do not take any clients on without you liaising with the lawyer due to be conducting your conveyancing in St George.There is no ‘factory style conveyancing’ - each client is an important individual, not a matter reference. The solicitors that we put you in touch with believe that the fees you are provided with for your conveyancing in St George should be the figure that you are charged.

My husband and I are new on the property ladder - had an offer accepted, but the agent told us that the owners will only move forward if we instruct their chosen solicitors as they need a ‘quick sale’. Our preferred option is to instruct a local solicitor who is familiar with conveyancing in St George

We suspect that the seller is unaware of this requirement. If they desire ‘a quick sale', taking such a hostile approach to a serious buyer is going to damage their objectives. Speak to the owners direct and make sure they understand (a)you are motivated buyers (b)you are ready to progress, with mortgage lined up © you are unencumbered (d) you wish to move quickly (e)but you are going to instruct your preferred St George conveyancing lawyers - not the ones that will give the negotiator at the agency a kickback or meet his conveyancing thresholds demanded by head office.

I am hoping to put an offer on a small detached house that seems to tick a lot of boxes, at a great price which is making it more attractive. I have since found out that the title is leasehold as opposed to freehold. I would have thought that there are issues buying a house with a leasehold title in St George. Conveyancing advisers have are about to be instructed. Will my lawyers set out the implications of buying a leasehold house in St George ?

The majority of houses in St George are freehold rather than leasehold. This is one of the situations where having a local conveyancer used to dealing with such properties who can assist with the conveyancing process. It is clear that you are purchasing in St George in which case you should be shopping around for a St George conveyancing solicitor and be sure that they are used to advising on leasehold houses. First you will need to check the unexpired lease term. As a tenant you will not be entirely free to do whatever you want with the house. The lease will likely included provisions for example obtaining the landlord’spermission to conduct changes to the property. It may be necessary to pay a service charge towards the upkeep of the communal areas where the house is located on an estate. Your lawyer will advise you fully on all the issues.

I own a studio flat in St George, conveyancing having been completed 4 years ago. Can you shed any light on how much the price could be for a 90 year extension to my lease? Similar properties in St George with a long lease are worth £206,000. The ground rent is £45 charged once a year. The lease ceases on 21st October 2091

You have 66 years remaining on your lease we estimate the price of your lease extension to range between £11,400 and £13,200 plus legals.

The figure that we have given is a general guide to costs for extending a lease, but we cannot give you the actual costs without more detailed investigations. You should not use the figures in tribunal or court proceedings. There may be additional issues that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. Please do not take any other action based on this information without first getting professional advice.