I am told that my conveyancing solicitors will need to check that the building insurance when buying a house in Sherwood. My lender is Virgin
Virgin have specific requirements as set out in the UK Finance Lenders’ Handbook. As of 10/9/2019, the requirements read as follows :
It has been 4 months since my purchase conveyancing in Sherwood concluded. I have checked the Land Registry website which shows that I paid £200,000 when infact I paid £160,000. 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 residence 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.
How does conveyancing in Sherwood differ for newly converted properties?
Most buyers of new build premises in Sherwood contact us having been asked by the developer to exchange contracts and commit to the purchase even before the property is built. This is because builders in Sherwood usually buy the site, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are used to new build conveyancing in Sherwood or who has acted in the same development.
I am looking for a flat up to £235,500 and identified one near me in Sherwood I like with a park and station nearby, however it's only got 61 years unexpired on the lease. I can't really find anything else in Sherwood in this price bracket, so just wondered if I would be making a grave error buying a lease with such few years left?
Should you require a home loan the remaining unexpired lease term will likely be a potential deal breaker. Discount the offer by the anticipated lease extension will cost if it has not already been discounted. If the existing proprietor has owned the property for at least twenty four months you can ask them to commence the lease extension formalities and then assign it to you. You can add 90 years to the current lease term and have £0 ground rent by law. You should speak to your conveyancing lawyer regarding this.
How do I search for a Sherwood law firm on the Halifax conveyancing panel? I am a keen cyclist and am willing to travel upto 25kilometers to meet the solicitor.
You can use the tool on this website. Please choose the lender and your location and you will see a number of Sherwood conveyancing lawyers based on proximity. We have detailed some Sherwood conveyancing firms towards the end of this page and you can telephone them to see if they are on the Halifax member panel