Will my conveyancing lawyers need to check that the building insurance for my purchase of a house in Stoke Poges. My lender is Platform
Platform have specific requirements as set out in the UK Finance Lenders’ Handbook. As of 27/9/2022, the requirements read as follows :
I have been told that property searches are the main cause of stalling in Stoke Poges conveyancing transactions. Is this right?
The Council of Property Search Organisations (CoPSO) published findings of research by MoveWithUs that conveyancing searches do not figure amongst the common causes of delays in the conveyancing process. Local searches are not likely to be the root cause of delay in conveyancing in Stoke Poges.
The deeds to my property are lost. The lawyers who conducted the conveyancing in Stoke Poges 10 years ago are no longer around. Will I be able to sell the house?
As long as the title is registered the details of your ownership will be held by HMLR with a Title Number. It is easy to execute a search at the Land Registry, identify your property and secure up to date copies of the Registered Entries for a small fee. If the property is Leasehold then the Land Registry will in most cases retain a certified duplicate of the Registered Lease and again, a copy can be obtained for £20 inclusive of VAT.
How does conveyancing in Stoke Poges differ for new build properties?
Most buyers of new build residence in Stoke Poges contact us having been asked by the seller to exchange contracts and commit to the purchase even before the house is finished. This is because developers in Stoke Poges typically 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 property lawyers 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 Stoke Poges or who has acted in the same development.
Over the last few months I have been searching for a ground for flat up to £195,000 and identified one near me in Stoke Poges I like with a park and railway links in the vicinity, however it only has 51 years on the lease. I can't really find anything else in Stoke Poges in this price bracket, so just wondered if I would be making a grave error purchasing a short lease?
Should you require a home loan that many years will be a potential deal breaker. Reduce the price by the anticipated lease extension will cost if not already taken into account. If the existing owner has owned the property for at least 2 years you could ask them to commence the lease extension formalities and then assign it to you. An additional ninety years can be extended on to the existing lease term with a zero ground rent applied. You should consult your conveyancing solicitor regarding this.