We have very assertive sellers who has recommended a lock out contract with a deposit 10k. Are such agreements sensible?

There are two main downsides with executing a lock out agreement (sometimes referred to as a shut-out contract) is that it takes away the focus from making progress with the conveyancing transaction itself, so unless it requires limited or no negotiation then it may transpire to be unhelpful. It is not particularly popular amongst Bedworth conveyancing lawyers as a result. A supplemental concern is the extent of the remedies available - a jilted buyer is not likely to win injunctive relief to bar the seller selling to an alternative purchaser, so the only remedy available under the agreement will be the reimbursement of wasted charges and, in rare situations, the extra payment of penalties.

Why is leasehold purchase conveyancing in Bedworth is more expensive?

The conveyancing costs on a leasehold property in Bedworth is frequently greater as compared to a freehold transaction. This is due to the supplemental investigations necessary in communicating with the landlord and management company to collate the evidence about whether the rent and maintenance fee have been paid and whether there are any large sums expected to be spent in the near future on repairs or maintenance of the building.

Various internet forums that I have come across warn that are the number one reason for obstruction in Bedworth house deals. Is that correct?

The Council of Property Search Organisations (CoPSO) released conclusions of a review by MoveWithUs that conveyancing searches do not figure within the top 10 causes of hindrances in the conveyancing process. Local searches are unlikely to feature in any holding up conveyancing in Bedworth.

five months have elapsed since my purchase conveyancing in Bedworth took place. I have checked the Land Registry site which shows that I paid £150,000 when infact I paid £170,000. Why the discrepancy?

The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the asset from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.

I'm purchasing a new build house in Bedworth with a loan from Norwich and Peterborough Building Society. The builders would not move on the amount so I negotiated five thousand pounds worth of fixtures and fittings instead. The property agent suggested that I not disclose to my lawyer about the side-deal as it would jeopardize my mortgage with the bank. Is this normal?.

All lenders require a Disclosure of Incentives Form from the builder 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.