The owners of the property we are hoping to buy are using a conveyancing practitioner in Chobham who has recommended a lock out agreement with a down payment two thousand pounds. Are such contracts generally advanced for Chobham conveyancing transactions?
There are two main downsides with entering into any lock out contract (occasionally referred to as an exclusivity agreement) is that it can distract from making progress with the conveyancing process, so in the absence of it needing little or no negotiation then it could transpire to be a hindrance. It is not promoted amongst Chobham conveyancing lawyers for this reason. The other main concern is the extent of the remedies available - a jilted buyer is not likely to be granted an injunctive ruling by a court to stop the owner disposing of the property to an alternative purchaser, so the only remedy available under the contract will be the reimbursement of abortive charges and, in rare circumstances, the extra payment of damages.
Will my conveyancing lawyers need to check that the building insurance when buying a house in Chobham. My lender is Chelsea Building Society
Chelsea Building Society have specific requirements as set out in the UK Finance Lenders’ Handbook. As of 12/1/2025, the requirements read as follows :
How does conveyancing in Chobham differ for new build properties?
Most buyers of new build property in Chobham contact us having been asked by the housebuilder to exchange contracts and commit to the purchase even before the house is finished. This is because new home sellers in Chobham typically buy the site, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct property lawyers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are accustomed to new build conveyancing in Chobham or who has acted in the same development.
I've recently found out that there is a flying freehold element on a house I put an offer in two weeks back in what was supposed to be a straight forward, chain free conveyancing. Chobham is the location of the property. What do you suggest?
Flying freeholds in Chobham are unusual but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Chobham you must be sure that your lawyer goes through the deeds very carefully. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Chobham may determine 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 residence.
I am attracted to a two apartments in Chobham which have about fifty years unexpired on the lease term. Should I regard a short lease as a deal breaker?
There are no two ways about it. A leasehold flat in Chobham is a wasting asset as a result of the shortening lease. The closer the lease gets to its expiry date, the more it reduces the marketability of the premises. For most purchasers and lenders, leases with under 75 years become less and less marketable. On a more positive note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the property for two years (unlike a Section 13 notice for purchasing the freehold, when leaseholders can participate from day one of ownership). When successful, they will have the right to an extension of 90 years to the current term and ground rent is effectively reduced to zero. Before moving forward with a purchase of a property with a short lease term remaining you should talk to a solicitor specialising in lease extensions and leasehold enfranchisement. We are are happy to put you in touch with Chobham conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. More often than not it is possible to negotiate informally with the freeholder to extend the lease. You may find he or she is happy to negotiate informally and willing to consider your offer straight off, without having to involve anyone else. This will save you time and money and it could help you reach a lower price on the lease. You need to ensure that the agreed terms represent good long-term value compared with the standard benefits of the Section 42 Notice and that onerous clauses are not inserted into any redrafting of the lease.
Leasehold Conveyancing in Chobham - A selection of Queries before buying
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The best form of lease structure is a share of the freehold. In this scenario the tenants enjoy control and notwithstanding that a managing agent is frequently employed where it is larger than a house conversion, the managing agent acts for the leaseholders themselves. This information is helpful as a) areas could result in problems in the block as the communal areas may begin to deteriorate where services remain unpaid b) if the leaseholders have a dispute with the running of the building you will need to have all the details How many of the leaseholders are in arrears for their maintenance charge payments?
Are you able recommend a good solicitor to do the buying of an apartment in Chobham. We are hoping to secure the flat for £165000 with a mortgage from Santander. We live in Chobham but dont require the solicitors to be based in Chobham.
LenderPanel.com is restricted to being a directory service for conveyancing practitioners who want to be listed as being on the approved conveyancing panel for Santander in certain locations for instance Chobham . Our intention is not to recommend any particular conveyancing practitioner.