The vendors of the home we are looking to purchase are using a conveyancing practitioner in Wolstanton who has recommended a lock out agreement with a payment two thousand pounds. Is it wise to enter into such agreements?

This type of contract isn't common in Wolstanton, conveyancers will often encourage clients away from them as they detract from the main conveyancing focus and if you end up losing your deposit then the solicitor at best left with an upset client and at worst a litigious one. Secondly, there is no certainty that just because the proprietor has entered into a lock out agreement they will complete the sale with you. They may be inclined to break the contract if they are offered a big enough financial inducement to do so because an aggrieved buyer with the benefit of a lockoutcontract will still be legally obliged to show losses as a consequence of the breach and this may not compare to the financial upside that your seller may obtain by breaking the agreement, no matter how morally condemnable that may be.

I have justfound out that Action Conveyancing have been shut down. They carried out my conveyancing in Wolstanton for a purchase of a leasehold apartment 18 months ago. How can I establish that the property is registered correctly in the name of the former proprietor?

The easiest method to check if the property is in your name, you can make a search of the land registry (£3.00). You can either do this yourself or ask a law firm to do this for you. If you are not registered you can seek help from one of a number of Wolstanton conveyancing specialists.

I am buying a new build house in Wolstanton benefiting from help to buy. The developers refused to move on the price so I negotiated five thousand pounds worth of additionals instead. The property agent told me not reveal to my conveyancer about this extras as it could jeopardize my mortgage with Lloyds TSB Bank. Is this normal?.

All lenders require a Disclosure of Incentives Form from the developer of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.

Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.

Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.

There are only Sixty One years left on my flat in Wolstanton. I am keen to get lease extension but my landlord is can not be found. What options are available to me?

If you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for an order to dispense with the service of the initial notice. This will enable the lease to be granted an extra 90 years by the magistrate. However, you will be required to prove that you have done all that could be expected to track down the landlord. In some cases an enquiry agent may be useful to conduct investigations and prepare an expert document to be used as proof that the landlord can not be located. It is advisable to get professional help from a property lawyer in relation to proving the landlord’s absence and the application to the County Court covering Wolstanton.

I purchased a studio flat in Wolstanton, conveyancing having been completed in 1998. Can you please calculate a probable premium for a statutory lease extension? Equivalent properties in Wolstanton with an extended lease are worth £186,000. The ground rent is £55 levied per year. The lease expires on 21st October 2076

With just 51 years unexpired the likely cost is going to span between £30,400 and £35,200 plus costs.

The suggested premium range that we have given is a general guide to costs for extending a lease, but we are not able to provide a more accurate figure in the absence of detailed due diligence. Do not use this information in tribunal or court proceedings. There may be additional issues that need to be taken into account and clearly you should be as accurate as possible in your negotiations. Neither should you take any other action placing reliance on this information without first getting professional advice.

Do online conveyancing companies undertake everything a high street Wolstanton solicitor does or must I employ a solicitor for the final stages for my conveyancing in Wolstanton?

If you use an online conveyancer they should undertake all the work your Wolstanton solicitor will cover.