The owners of the home we are hoping to buy have instructed a conveyancing solicitor in Grahame Park who has recommended a exclusivity contract with a payment two thousand pounds. Are such agreements sensible?
There are two primary downsides with entering into any lock out contract (occasionally known as a shut-out contract) is that it diverts attention away from moving forward with the conveyancing work, so unless it requires little or no negotiation then it could turn out to be unhelpful. It is not promoted by Grahame Park conveyancing solicitors for this reason. A supplemental concern is the extent of the remedies available - a jilted buyer is extremely unlikely to be issued with an injunctive ruling by a court to prohibit the owner disposing of the property to a third party, so the only remedy open via the contract will be the recovery of abortive charges and, in rare scenarios, the additional payment of penalties.
Should lawyers ask for an advanced payment for my conveyancing in Grahame Park?
Where you are retaining lawyers for conveyancing in Grahame Park your solicitor will ask you place them with funds to cover the search fees. This will be the total of the cost of the Local Authority Search. When the down payment is as part of the total price then this should be required shortly prior to exchange of contracts. The closing balance that is needed will be payable shortly before completion.
About to place an offer on a leasehold property in Grahame Park. The estate agents assure me that it is usual for flats in Grahame Park to have less than 75 years unexpired on the lease. I am getting a mortgage with Accord Mortgages. Is this going to be acceptable if the lease has 70 years left.
Most leasehold conveyancing experts should be able to deal with a lease extension. if you are securing a mortgage then your lender may insist that the lease be extended before competition. Accord Mortgages have specific requirements as set out in the UK Finance Lenders’ Handbook in relation to minimum unexpired lease terms. As of 21/7/2026 the requirements read as follows :
Are there restrictive covenants that are commonly identified during conveyancing in Grahame Park?
Covenants that are restrictive in nature can be picked up when reviewing land registry title as part of the process of conveyancing in Grahame Park. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
Yesterday I discovered that there is a flying freehold issue on a house I put an offer in last month in what was supposed to be a straight forward, chain free conveyancing. Grahame Park is where the house is located. Is there any advice you can give?
Flying freeholds in Grahame Park are not the norm but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Grahame Park you would need to get your solicitor to go through the deeds diligently. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Grahame Park may ascertain that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold premises.
I am a negotiator for a long established estate agency in Grahame Park where we have witnessed a few flat sales jeopardised as a result of leases having less than 80 years remaining. I have received conflicting advice from local Grahame Park conveyancing firms. Could you confirm whether the vendor of a flat can commence the lease extension process for the purchaser on completion of the sale?
Provided that the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to commence the lease extension process and assign the benefit of the notice to the purchaser. This means that the proposed purchaser can avoid having to sit tight for 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment has to be done before, or at the same time as completion of the sale.
An alternative approach is to extend the lease informally by agreement with the landlord either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the buyer.
I have attempted and failed to negotiate with my landlord for a lease extension without getting anywhere. Can I make an application to the Leasehold Valuation Tribunal? Can you recommend a Grahame Park conveyancing firm to help?
Most definitely. We are happy to put you in touch with a Grahame Park conveyancing firm who can help.
An example of a Freehold Enfranchisement decision for a Grahame Park premises is 1 & 1A Sunningfields Crescent in September 2013. The Tribunals calculation of the amount to be paid into court in respect of the value of the freehold interest is £11,997 in respect of Flat 1 and £15,781 in respect of Flat 1A for a total of £27,778. This case related to 2 flats. The unexpired term as at the valuation date was 71.5 years.