I am told that my conveyancing solicitors will need to check that the building insurance for my purchase of a house in Geddington. My lender is Platform
Platform have specific requirements as set out in the UK Finance Lenders’ Handbook. As of 13/7/2019, the requirements read as follows :
Just had an offer accepted on a new build apartment in Geddington. Conveyancing is daunting at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build legal work.
Set out below is a sample of a selection of leasehold new build enquiries that you should expect your new-build leasehold conveyancing in Geddington
Investor purchasers must be able to freely grant unsecured tenancies at market rents without requiring any consents. The Lease must contain a provision on behalf of the Vendor to pay the service charges in respect of unoccupied units in order to ensure that all services can be provided. Please provide evidence that the form of Lease proposed has been approved by the Land Registry. Has the Lease plan been approved by the Land Registry and if not when will they be lodged for this purpose? Where there is an Undertaking being granted there is the risk of forfeiture of the Headlease subject to relief if one or more of the Underlessees are willing to accept the original Head Lessee’s obligations as otherwise relief will be denied to the Underlessees. The only alternatives are the Head Lessor agreeing not to forfeit the Headlease or the Head Lessee guaranteeing to the Underlessees that it will not be in breach of the Headlease.
I opted to have a survey completed on a property in Geddington before retaining conveyancers. I have been told that there is a flying freehold aspect to the house. Our surveyor advised that some lenders tend not issue a mortgage on this type of house.
It varies from the lender to lender. HSBC has different instructions for example to Halifax. Should you wish to call us we can investigate further with the relevant mortgage company. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Geddington. Conveyancing may be slightly more expensive based on your lender's requirements.
Given that I will soon spend 450k on a house in Geddington I would like to have a conversation with the lawyer concerning thehome move in advance of appointing the firm. Is this something that you can arrange?
We could not agree more - it is our preference to talk to you we do not take any clients on without you first talking to the conveyancer due to be conducting your property ownership legalities in Geddington.There is no ‘factory style conveyancing’ - each client is an important person, not a file number. The law firms that we put you in touch with believe that the fees you are quoted for residential conveyancing in Geddington should be the figure that you end up paying.
Our sealed bid on detached house in Geddington has been accepted, but there is a chain. The vendors have put an offer on somewhere, although it’s not yet tied up, and has viewings of other properties booked. I have selected a local conveyancing lawyer in Geddington. What should be my next step? When should I get the mortgage application with Clydesdale started with Clydesdale?
It is normal to have apprehensions where there is an associated chain given your reluctance to incur expenses too early (mortgage application is approx one thousand pounds, then survey, Geddington conveyancing search costs, etc). The first course of action is to check that your property lawyer is on the Clydesdale approved list. Regarding the subsequent steps this very much dictated by the specifics of your case, desire for the property and on the state of the market. During a rising market the majority of home buyers would apply for the mortgage with Clydesdale and pay for the survey and only if it comes back ok would they ask their solicitor to press on with searches.