We have rather assertive vendors who has insisted on a lock out contract with a down payment 10k. Is it wise to enter into such agreements?

Lock out contracts are agreements binding a property owner and purchaser giving the buyer the sole right to the sale of the premises for a limited period of time. Essentially, a lock out agreement is a contract stating that you will have a contract at a later date being the main conveyancing contract. It is generally used for buyer protection though in many situations, the vendor may stand to benefit from such agreements as well. There are various positives and negatives to using an agreement but you need to check with your lawyer but beware that it may result in incurring more in conveyancing fees. In light of this these agreements are unusual when it comes to conveyancing in London Colney.

We are planning to buy with Earl Shilton BS. I visited a few high street companies yet am unable to find a London Colney conveyancing firm on the Earl Shilton BS approved list. Could you assist?

Feel free to make the most of the find a lender approved solicitor tool on this site. Pick the building society and type London Colney or your preferred area and you will see a number of lawyer located in London Colney or near you.

My wife and I buying a end of terrace house in London Colney. We would like to carry out a loft conversion at the property.Will legal work on the property include investigations to see if these works are allowed?

Your solicitor will check the registered title as conveyancing in London Colney will sometimes identify restrictions in the title deeds which restrict categories of alterations or need the permission of a 3rd party. Certain extensions call for local authority planning consent and approval under the building regulations. Certain areas are designated conservation areas and special planning restrictions apply which often prevent or impact extensions. It would be prudent to check these things with a surveyor before you commit yourself to a purchase.

Can you point me to a directory of Lloyds panel solicitors in London Colney on the Council of Mortgage Lender’s Website?

Unfortunately not yet. There is no such facility on the CML or Building Society Association sites. Very few lending institutions make their panel listings open the public on the web. If you are looking for a London Colney lawyer on the Lloyds please use our facility.

We previously chose solicitors with offices in London Colney on the Clydesdale solicitor panel. They have just invoiced me an additional fee for handling the Clydesdale mortgage. Is this a supplemental conveyancing fee specified by Clydesdale?

Provided it is contained in their Terms and Conditions or Quote then yes your conveyancing practitioner may levy a fee for this. This fee is not set by Clydesdale but by your London Colney conveyancing practitioner. Plenty of firms on the Clydesdale panel will charge ’dealing with mortgage’ fee but plenty of practices include it on their overall fee.

Over the last few months I have been searching for a flat up to £245,000 and identified one round the corner in London Colney I like with open areas and railway links nearby, however it's only got 61 remaining years left on the lease. There is not much else in London Colney suitable, so just wondered if I would be making a mistake purchasing a lease with such few years left?

If you need a mortgage the remaining unexpired lease term will likely be a potential deal breaker. Reduce the price by the amount the lease extension will cost if it has not already been discounted. If the existing owner has owned the premises for a minimum of twenty four months you can request that they commence the lease extension formalities and then assign it to you. You can add 90 years to the existing lease term with a zero ground rent applied. You should consult your conveyancing solicitor regarding this matter.

What are your top tips when it comes to finding a London Colney conveyancing practice to deal with our lease extension?

If you are instructing a conveyancer for lease extension works (regardless if they are a London Colney conveyancing firm) it is essential that they be familiar with the legislation and specialises in this area of conveyancing. We suggest that you make enquires with two or three firms including non London Colney conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then that’s a bonus. The following questions could be helpful:

What volume of lease extensions have they completed in London Colney in the last year?

I own a studio flat in London Colney, conveyancing formalities finalised 5 years ago. Can you work out an approximate cost of a lease extension? Similar properties in London Colney with an extended lease are worth £206,000. The average or mid-range amount of ground rent is £45 charged once a year. The lease finishes on 21st October 2092

With only 66 years left to run the likely cost is going to range between £11,400 and £13,200 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 a more accurate figure without more comprehensive investigations. You should not use this information in tribunal or court proceedings. There may be other concerns that need to be taken into account and clearly you should be as accurate as possible in your negotiations. Please do not move forward based on this information without first seeking the advice of a professional.