The sellers of the house we are looking to purchase have instructed a conveyancing firm in Seahouses who has insisted on a exclusivity contract with a deposit 10k. Are such arrangements appropriate for Seahouses conveyancing transactions?
Lock out contracts are agreements between a home seller and purchaser giving the buyer a ‘clear field’ to the sale of the property within a prescribed time frame. For all intents and purposes, a lock out agreement is a contract stating that you will receive a contract at a later time which is the main conveyancing contract. It tends to be utilised for buyer protection though in some cases, the seller may enjoy an upside from such agreements as well. There are numerous positives and negatives to using an agreement but you need to check with your solicitor but beware that it may result in costing you more in conveyancing fees. For this these agreements are rare in relation to conveyancing in Seahouses.
I have Fifty Six years remaining on my lease and need a lease extension for my apartment in Seahouses. Conveyancing solicitors on the Tesco Bank panel can deal with such extensions right?
Most leasehold conveyancing experts should be able to deal with a lease extension. if you are getting a mortgage then your lender may insist that the lease be extended before competition. Tesco Bank have specific requirements as set out in the UK Finance Lenders’ Handbook in relation to minimum unexpired lease terms. As of 2/6/2025 the requirements read as follows :
What is the difference between a licensed conveyancer and conveyancing solicitor in Seahouses
There are two types of lawyers who can execute conveyancing in Seahouses namely licenced conveyancers or solicitors. The two can handle the legal services that required to complete the sale or purchase of property. They are both required to carry out Seahouses conveyancing to the same quality and guidelines so you may be sure that your conveyancing will be properly administered and that all requirements and procedures will be correctly attended to.
I happen to be the sole beneficiary of my late mum's will and I have everything in my name now, including the house in Seahouses. The Seahouses property was put into my name in May. I want to move. I understand that there is a CML six month 'rule', meaning my property ownership will be treated the same way as if I'd bought the property in May. Is the property unsalable for six months?
The CML handbook mandates solicitors to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." By the strict wording you might be affected by that. Some banks would take a pragmatic view as this provision is chiefly there to identify subsales or the flipping of property.
I can not work out if my lender obliges me to make sure the lease term for the flat is extended prior to the completion date. I have telephoned my Seahouses bank branch on various occasions and was informed it wasn't an issue and they would lend. My Seahouses conveyancing solicitor - who is on the mortgage company conveyancing panel- called to say that they would not lend based on their published requirements. Who do I believe?
As long as the conveyancer is on the mortgage company approved list, she or he must follow the Council of Mortgage Lenders’ Handbook provisions for the lender. Unless your lawyer obtains specific confirmation in writing that the bank will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the mortgage company to contact your lawyer in writing confirming that they will accept the number of years remaining.
I have been told that property searches are the main cause of obstruction in Seahouses conveyancing transactions. Is this right?
The Council of Property Search Organisations (CoPSO) has noted the findings of a review by MoveWithUs that conveyancing searches do not feature amongst the most frequent causes of delays in the conveyancing process. Searches are unlikely to feature in any holding up conveyancing in Seahouses.
I purchased a renovated Edwardian property in Seahouses. Conveyancing solicitor acted for me and Nottingham Building Society. I happened to do a free search for it on the Land Registry database and there are two entries: the first freehold, the second leasehold with the matching address. I'd like to know for sure, how can I find out??
You should read the Freehold register you have again and check the Charges Register for mention of a lease. The best way to be sure that you are also the registered owner of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Seahouses and other areas of the country and poses no real issues for owners other than when they mortgage they have to account for both freehold and leasehold interests when dealing with purchasers. You can also enquire as to the situation with the conveyancing solicitor who conducted the conveyancing.
In what way can the Landlord & Tenant Act 1954 impact my commercial premises in Seahouses and how can you help?
The 1954 Act gives a safeguard to business tenants, granting the a statutory right to apply to court for a continuation of occupancy when the lease reaches an end. There are certain specified grounds that a landlord can refuse a lease renewal and the rules are complicated. We are happy to direct you to commercial conveyancing solicitors who use the act to your advantage and help with commercial conveyancing in Seahouses