Will my conveyancing lawyers need to check that the building insurance for my purchase of a house in Gamlingay. My lender is Virgin

Virgin have specific requirements as set out in the UK Finance Lenders’ Handbook. As of 13/9/2023, the requirements read as follows :

Due to the advice of my in-laws I had a survey completed on a house in Gamlingay ahead of appointing conveyancers. I have been informed that there is a flying freehold element to the property. My surveyor has said that some mortgage companies may not give a loan on such a premises.

It depends who your proposed lender is. Lloyds has different requirements for example to Birmingham Midshires. Should you wish to telephone us we can investigate further with the appropriate lender. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Gamlingay. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Gamlingay to see if the conveyancing will be more expensive.

How simple is it to use the search tool to locate a conveyancing lawyer in Gamlingay on the approved list for my bank?

First pick a mortgage company such as Lloyds TSB Bank, Virgin Money or Clydesdale then specify your location a common one being Gamlingay. Conveyancing organisations in Gamlingay and nationally will then be identified.

What are your top tips when it comes to appointing a Gamlingay conveyancing practice to carry out our lease extension conveyancing?

If you are instructing a property lawyer for lease extension works (regardless if they are a Gamlingay conveyancing firm) it is essential that he or she should be familiar with the legislation and specialises in this area of work. We recommend that you talk with two or three firms including non Gamlingay conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then so much the better. The following questions could be of use:

What volume of lease extensions have they carried out in Gamlingay in the last twenty four months? Can they put you in touch with clients in Gamlingay who can give a testimonial?

I own a 1 bedroom flat in Gamlingay, conveyancing having been completed 10 years ago. Can you let me have an estimated range of the fair premium for a lease extension? Equivalent properties in Gamlingay with a long lease are worth £186,000. The ground rent is £55 yearly. The lease runs out on 21st October 2076

With just 53 years left to run we estimate the price of your lease extension to span between £27,600 and £31,800 as well as plus your own and the landlord's "reasonable" professional fees.

The figure that we have given is a general guide to costs for renewing a lease, but we cannot give you a more accurate figure without more comprehensive due diligence. Do not use the figures in a Notice of Claim or as an informal offer. There are no doubt additional issues that need to be considered and clearly you should be as accurate as possible in your negotiations. Please do not take any other action placing reliance on this information before seeking the advice of a professional.

The conveyancing solicitors handling our conveyancing in Gamlingay has sent papers to review that indicate that the land is unregistered with epitome documents. Why is the property not yet recorded at HM Land Regsitry?

It is rare for premises in Gamlingay not to be registered. An 'epitome' is basically a dossier of photocopies of documents affecting an unregistered title. Many Gamlingay conveyancing solicitors should be familiar with such matters but if any uncertainty reigns the prevailing proposition these days seems to be for the current owners to register it first and subsequently sell - this no doubt cause a significant delay.