We have very assertive sellers who has insisted on a lock out agreement with a payment two thousand pounds. Are such contracts the norm for Isle Of Wight conveyancing transactions?

There are two primary downsides with signing a lock out contract (sometimes termed a shut-out contract) is that it can distract from progressing with the conveyancing process, so unless it requires limited or no negotiation then it could turn out to be unhelpful. It is not particularly popular amongst Isle Of Wight conveyancing practitioners for this reason. A supplemental issue is the extent of the remedies available - an aggrieved purchaser is very unlikely to be granted an injunctive ruling by a court to prohibit the seller completing the sale to another buyer, so the only remedy open via the agreement will be the recovery of abortive charges and, in limited circumstances, the extra payment of penalties.

It is is a decade since I bought my house in Isle Of Wight. Conveyancing solicitors have just been instructed on the sale but I can't find the title deeds. Is this a problem?

You need not be too concerned. Firstly there is a possibility that the deeds will be retained by the lender or they may be in the possession of the lawyers who handled your purchase. Secondly the likelihood is that the title will be registered at the land registry and you will be able to establish that you own the property by your conveyancing lawyers procuring current official copies of the land registers. Most conveyancing in Isle Of Wight relates to registered property but in the unlikely event that your property is not registered it is more tricky but is resolvable.

I am considering applying for a Coventry BS mortgage for purchase of a new build (under development) in Isle Of Wight with 60% loan to value. Is it compulsory to choose a solicitor on the conveyancing panel for Coventry BS ?

There is nothing to stop you using your solicitor, but Coventry BS will insist on their interests being represented by a firm on their conveyancing panel. There is greater potential for delays and confusion with an additional lawyer added to the mix, and it will undoubtedly be more expensive too.

Will commercial conveyancing searches reveal proposed roadworks that could affect a commercial site in Isle Of Wight?

Many commercial conveyancing solicitors in Isle Of Wight will conduct a SiteSolutions Highways report as it dramatically cuts the time that conveyancers spend in sourcing accurate data on highways that impact buildings and development assets in Isle Of Wight. The search result sets out definitive information on the adoption status of roads, footpaths and verges, as well as the implication of traffic schemes and the rights of way surrounding a commercial development sites in Isle Of Wight.

For each commercial conveyancing transaction in Isle Of Wight it is crucial to investigate the adoption status of roads surrounding a site. Failure to identify developments where adoption procedures have not been addressed adequately may cause delays to Isle Of Wight commercial conveyancing deals as well as present a risk to future plans for the site. These searches are not ordered for residential conveyancing in Isle Of Wight.

How can the Landlord & Tenant Act 1954 affect my business property in Isle Of Wight and how can your lawyers assist?

The 1954 Act affords a safeguard to commercial tenants, giving them the legal entitlement to make a request to court for a renewal lease and continue in occupation when the lease comes to an end. There are limited grounds where 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 handle your commercial conveyancing in Isle Of Wight