Will my conveyancing lawyers need to check that the building insurance for my purchase of a house in Canvey Island. My lender is Tesco Bank
Tesco Bank have specific requirements as set out in the UK Finance Lenders’ Handbook. As of 18/1/2025, the requirements read as follows :
How does conveyancing in Canvey Island differ for new build properties?
Most buyers of new build property in Canvey Island contact us having been asked by the housebuilder to sign contracts and commit to the purchase even before the premises is finished. This is because house builders in Canvey Island typically acquire 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 Canvey Island 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 found one close by in Canvey Island I like with open areas and railway links in the vicinity, however it's only got 52 remaining years left on the lease. There is not much else in Canvey Island in this price bracket, so just wondered if I would be making a mistake buying a lease with such few years left?
If you require a home loan the remaining unexpired lease term will likely be an issue. Discount the offer by the anticipated lease extension will cost if it has not already been discounted. If the existing owner has owned the premises for a minimum of 2 years you could ask them to commence the lease extension formalities and pass it to you. An additional ninety years can be extended on to the current lease and have £0 ground rent by law. You should consult your conveyancing solicitor concerning this.
I am selling my home. My former lawyers has retired. I would be grateful for any recommendation of a conveyancing firm. Im based in Canvey Island if that makes a difference.
You should use our search tool to help you choose a solicitor for your conveyancing in Canvey Island. We have connected thousands of home buyers and sellers with regulated solicitors to ensure that the legalities of their house move goes with a minimum of fuss.
Do you have any top tips for leasehold conveyancing in Canvey Island with the purpose of expediting the sale process?
- Much of the delay in leasehold conveyancing in Canvey Island can be bypassed if you instruct lawyers as soon as your agents start marketing the property and request that they start to put together the leasehold information which will be required by the buyers’ solicitors. Some Canvey Island leases require Licence to Assign from the landlord. If this applies to your lease, it would be prudent to notify your estate agents to make sure that the purchasers put in hand financial (bank) and professional references. Any bank reference will need to confirm that the buyers are able to meet 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 service charge figures so that they can pass this information on to the purchasers or their solicitors. You believe that you know the number of years remaining on your lease but it would be advisable double-check by asking your conveyancers. A purchaser's lawyer will be unlikely to recommend their client to proceed with the purchase of a leasehold property the remaining number of years is below 75 years. In the circumstances it is essential at an early stage that you identify whether the lease term for your property needs extending. If it does, contact your solicitors before you put your property on the market for sale. If you have carried out any alterations to the property would they have required Landlord’s permission? In particular have you laid down wooden flooring? Canvey Island leases often stipulate that internal structural changes or addition of wooden flooring require a licence from the Landlord consenting to such alterations. Should you dont have the approvals in place you should not communicate with the landlord without contacting your solicitor in the first instance. If there is a history of any disputes with your freeholder or managing agents it is very important that these are settled before the property is put on the market. The buyers and their solicitors will be nervous 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 ahead of the contract papers being issued to the buyers’ solicitors. You are still duty bound to disclose details of the dispute to the buyers, but it is better to present the dispute as over rather than unresolved.
Leasehold Conveyancing in Canvey Island - Examples of Queries Prior to buying
-
You should be aware if it is fewer than 80 years it will impact the marketability of the apartment. Check with your lender that they are content with the length of the lease. Leases with less than 80 years remaining means that you will most likely require a lease extension at some point and it is worth finding out what this would cost. Remember, in most cases you will need to own the residence for two years in order to be legally able to exercise a lease extension. How many years remain on the lease? Does the lease include onerous restrictions?
My partner and I are first time buyers just having agreed a price on a property in Canvey Island, and need to get solicitors lined up. I have utilised the different rating tools and the results are from all over the the UK. Is it necessary to have a Canvey Island lawyer local to our prospective property? I am content to do all the communicating over the internet, but I am thinking at some stage we may be required to physically go into the property lawyer's office to sign documents?
Usually there is no need to attend the office of your conveyancer, they can send any relevant contracts to you, which you can sign and send back. Many home movers nevertheless opt to use a locally based solicitor, but it is not essential for conveyancing in Canvey Island.