Will my conveyancing lawyers need to check that the building insurance when buying a house in Blyth. My lender is Virgin
Virgin have specific requirements as set out in the UK Finance Lenders’ Handbook. As of 28/3/2025, the requirements read as follows :
My colleague recommended that where I am buying in Blyth I should carry out a Neighbourhood, Planning and Local Amenity Search. What does it cover?
A search of this type is sometimes included in the estimate for your Blyth conveyancing searches. It is not a small report of more than thirty pages, listing and detailing important information about Blyth around the property and the people living there. It incorporates an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the local Housing Market, Council Tax Banding, the type of People living in the area, the dominant type of Housing, the Average Property Price, Crime statistics, Blyth Education with plans and statistics, Local Amenities and other useful information about Blyth.
I have recentlydiscovered that Stirling Law have closed. They conducted my conveyancing in Blyth for a purchase of a freehold house 12 months ago. How can I check that the property is in my name in the name of the previous owner?
The quickest way to see if the premises is in your name, you can make a search of the land registry (£3.00). You can either do this yourself or ask a law firm to do this for you. If you are not registered you can seek help from one of a number of Blyth conveyancing specialists.
I'm buying a new build house in Blyth benefiting from help to buy. The sellers refused to budge the amount so I negotiated 6k of additionals instead. The property agent told me not disclose to my solicitor about the side-deal as it would affect my mortgage with Barclays . Do I keep my lawyer in the dark?.
All lenders require a Disclosure of Incentives Form from the developer of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
Do you have any advice for leasehold conveyancing in Blyth with the purpose of expediting the sale process?
- A significant proportion of the delay in leasehold conveyancing in Blyth can be bypassed where you instruct lawyers as soon as you market your property and request that they start to collate the leasehold information which will be required by the purchasers’ representatives. If you have had conflict with your landlord or managing agents it is essential that these are settled before the property is put on the market. The purchasers and their solicitors will be warry about purchasing a property where there is a current dispute. You will have to accept that you will have to pay any arrears of service charge or settle the dispute prior to the buyers completing the purchase. It is therefore preferable to have any dispute settled prior to the contract papers being issued to the buyers’ solicitors. You are still duty bound to disclose particulars of the dispute to the buyers, but it is better to reveal the dispute as over rather than unresolved. Many freeholders or Management Companies in Blyth levy fees for providing management packs for a leasehold property. You or your lawyers should find out the actual amount of the charges. The management pack can be applied for on or before finding a buyer, thus accelerating the process. The average time it takes to obtain the necessary information is three weeks. It is the most frequent cause of frustration in leasehold conveyancing in Blyth. Some Blyth leases require Licence to Assign from the landlord. If this is the case, it would be prudent to place the estate agents on notice to make sure that the purchasers put in hand bank and professional references. The bank reference will need to confirm that the buyers are financially capable of paying the annual service charge and the actual amount of the service charge should be quoted in the bank’s letter. You will therefore need to provide your estate agents with the actual amount of the service charge so that they can pass this information on to the purchasers or their lawyers. In the event that you altered the property did you need the Landlord’s consent? Have you, for example laid down wooden flooring? Most leases in Blyth state that internal structural changes or addition of wooden flooring calls for a licence issued by the Landlord consenting to such alterations. Should you fail to have the approvals to hand do not communicate with the landlord without contacting your solicitor before hand.
I purchased a leasehold flat in Blyth, conveyancing formalities finalised half a dozen years ago. Can you work out an approximate cost of a lease extension? Equivalent properties in Blyth with a long lease are worth £260,000. The average or mid-range amount of ground rent is £45 invoiced every year. The lease expires on 21st October 2099
With just 74 years unexpired we estimate the price of your lease extension to span between £8,600 and £9,800 plus professional fees.
The suggested premium range above a general guide to costs for extending a lease, but we cannot give you a more accurate figure in the absence of comprehensive investigations. Do not use the figures in a Notice of Claim or as an informal offer. There are no doubt other concerns that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. Neither should you move forward placing reliance on this information before getting professional advice.
One month into buying a house in Blyth. Conveyancing solicitor has phoned to say the property is "Leasehold". Should this impact the marketability of the property?
Blyth conveyancing does not in most situations involve leasehold houses. The key factor here is the length of lease and the ground rent. If there are hundred of years years remaining with a nominal rent, it's virtually freehold, so it shouldn't impact the saleability too much.
At the other end of the spectrum, if it's, say, fifty five years it will have a material effect on the saleability, and probably wouldn't be acceptable to the lender. The length of lease and ground rent will be stated in the lease which should be made available to your solicitor.