Will my conveyancing lawyers need to check that the building insurance for my purchase of a house in Castle Bromwich. My lender is Bank of Ireland
Bank of Ireland have specific requirements as set out in the UK Finance Lenders’ Handbook. As of 1/10/2025, the requirements read as follows :
Over the last few months I have been searching for a ground for flat up to £245,000 and found one round the corner in Castle Bromwich I like with a park and station nearby, the downside is that it's only got 49 remaining years left on the lease. I can't really find anything else in Castle Bromwich in this price bracket, so just wondered if I would be making a grave error acquiring a short lease?
Should you need a mortgage the shortness of the lease may be an issue. Reduce the price by the anticipated lease extension will cost if not already taken into account. If the existing proprietor has owned the premises for at least 2 years you can ask them to start the process of the extension and pass it to you. An additional ninety years can be extended on to the current lease term and have £0 ground rent by law. You should consult your conveyancing solicitor about this matter.
Is it possible to transfer to a new solicitor as I need to select one who is on the Virgin Money conveyancing panel. I was using a high street conveyancing solicitor in Castle Bromwich five minutes from me but the firm is not approved by Virgin Money
It would be our pleasure to help you find a conveyancing solicitor in Castle Bromwich on the Virgin Money panel. Please note that the property lawyers that we work with do not pay us fee if you instruct them and are regulated by the SRA who regulate all conveyancing solicitors in Castle Bromwich. In making use of the find a conveyancing solicitor tool on this page, you can compare and instruct different solicitors and conveyancers both nationally and in Castle Bromwich.
My husband and I are new on the property ladder - agreed a price, yet the agent informed us that the vendor will only move forward if we use their recommended lawyers as they are insisting on an ‘expedited deal’. Our preferred option is to instruct a family conveyancer who is accustomed to conveyancing in Castle Bromwich
We suspect that the seller is not behind this request. Should the owner desire ‘a quick sale', turning down a genuine purchaser is going to damage their objectives. Bypass the agents and go straight to the sellers and explain that (a)you are keen to buy (b)you are excited to move forward, with mortgage lined up © you are chain free (d) you intend to proceed fast (e)but you will continue to use your own,trusted Castle Bromwich conveyancing lawyers - rather thanthe ones that will give the negotiator at the agency a introducer fee or hit his conveyancing figures demanded by HQ.
Due to exchange soon on a garden flat in Castle Bromwich. Conveyancing solicitors assured me that they are sending me a report within the next couple of days. What should I be looking out for?
The report on title for your leasehold conveyancing in Castle Bromwich should include some of the following:
-
Where does the liability rest to repair and maintain the block. It is important that you know who is duty bound to repair and maintenance of every part of the building Whether the lease restricts you from subletting the flat, or having a home office for business You should be advised what constitutes a Nuisance in the lease You should have a good understanding of the building insurance provisions What the implications are if you have breached the provisions of the lease?
Castle Bromwich Leasehold Conveyancing - A selection of Queries before Purchasing
-
If a Castle Bromwich lease has fewer than 80 years it will affect the value of the property. Check with your lender that they are happy with remaining years on the lease. A short lease means that you will probably require a lease extension sooner rather than later and you need to have some idea of what this would cost. Remember, in most cases you would need to own the premises for a couple of years in order to be eligible to exercise a lease extension. What is the length of the lease? This question is useful as a) areas can result in problems in the block as the common areas may start to deteriorate if maintenance are not paid for b) if the leasehold owners have an issue with the running of the building you will want to know about it
Builders have recommended to me a solicitor and I've sought an estimate from them. They are almost two hundred pounds cheaper than my preferred Castle Bromwich solicitor. Should I use them?
Housebuilders frequently have lists of conveyancers who are quick and who know the builder's documentation and solicitor. Plenty of developers offer an inducement to choose their approved conveyancing practitioner for this reason, any increased cost can be avoided and a builder won't recommend a conveyancing factory and run the risk of having the conveyancing delayed when they require an exchange inside a month. The argument for not opting for the recommended property lawyer is that they may be unwilling to fight for your interests at the risk of upsetting the developer. Where you have concerns that this may be the situation you should remain with your local Castle Bromwich conveyancer.