I am told that my conveyancing solicitors will need to check that the building insurance when buying a house in Salisbury. My lender is Bank of Ireland
Bank of Ireland have specific requirements as set out in the UK Finance Lenders’ Handbook. As of 24/1/2025, the requirements read as follows :
It has been 4 months following my purchase conveyancing in Salisbury concluded. I have checked the Land Registry site which shows that I paid £175,000 when infact I paid £215,000. 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 property 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.
The estate agent has sent us the confirmation of our purchase of a new build flat in Salisbury. Conveyancing is a frightening process at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build conveyancing.
Set out below are examples of a few leasehold new build questions that you may expect your new-build leasehold conveyancing in Salisbury
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Has the Lease plan been approved by the Land Registry and if not when will they be lodged for this purpose? Please supply evidence that the form of Lease proposed has been approved by the Land Registry. There must be mutual enforceability of lessee’s covenants. The Landlord must covenant to assume the management if the Management Company goes into liquidation or otherwise defaults in running the management scheme. The Lease must contain a provision on behalf of the Vendor to pay the service charges in respect of unoccupied units in order to ensure that all services can be provided.
My husband and I are first time buyers - agreed a price, but the property agent told us that the owners will only move forward if we appoint their chosen conveyancers as they are insisting on a ‘quick sale’. My instinct tells me that we should use a family conveyancer with experience of conveyancing in Salisbury
We suspect that the seller is not behind this demand. If they desire ‘a quick sale', turning down a genuine buyer is not the way to achieve this. Try to communicate with the vendors directly and make the point that (a)you are serious buyers (b)you are ready to progress, with finances arranged © you have nothing to sell (d) you intend to proceed fast (e)but you will continue to appoint your preferred Salisbury conveyancing solicitors - as opposed tothose that will give their estate agent a referral fee or hit his conveyancing figures pre-set by corporate headquarters.
Can you provide any advice for leasehold conveyancing in Salisbury with the purpose of saving time on the sale process?
- Much of the delay in leasehold conveyancing in Salisbury can be bypassed where you appoint lawyers as soon as your agents start advertising the property and ask them to collate the leasehold documentation needed by the purchasers’ representatives. If you have carried out any alterations to the premises would they have required Landlord’s permission? Have you, for example laid down wooden flooring? Salisbury leases often stipulate that internal structural changes or installing wooden flooring necessitate a licence from the Landlord acquiescing to such works. If you dont have the consents in place do not contact the landlord without checking with your conveyancer first. You believe that you know the number of years left on your lease but it would be wise to verify this via your conveyancers. A buyer’s conveyancer will be unlikely to recommend their client to where the remaining number of years is under 75 years. It is therefore important at an as soon as possible that you consider whether the lease requires a lease extension. If it does, contact your solicitors before you put your property on the market for sale. A minority of Salisbury 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. 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. If you are supposed to have a share in the Management Company, you should make sure that you hold the original share certificate. Arranging a replacement share certificate can be a time consuming formality and frustrates many a Salisbury home move. If a reissued share is necessary, do contact the company director and secretary or managing agents (if relevant) for this at the earliest opportunity.
I invested in buying a garden flat in Salisbury, conveyancing was carried out half a dozen years ago. How much will my lease extension cost? Corresponding flats in Salisbury with over 90 years remaining are worth £260,000. The average or mid-range amount of ground rent is £45 levied per year. The lease comes to an end on 21st October 2099
With only 74 years left to run we estimate the price of your lease extension to be between £8,600 and £9,800 as well as legals.
The suggested premium range above a general guide to costs for renewing a lease, but we cannot give you a more accurate figure without more comprehensive due diligence. You should not use the figures in tribunal or court proceedings. There are no doubt additional concerns that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. You should not move forward based on this information before seeking the advice of a professional.
We have been informed by various estate agents to expect 6-8 weeks for Salisbury conveyancing to complete.This was a month ago. The draft contract was only received from the vendors solicitor last week so now does it countdown?
It would be unwise bank on counting down any 6-8 week suggested period. Addressing precisely how long Salisbury conveyancing will take is nigh on impossible. Without fail every conveyance will have it’s own unique set of concerns. Accordingly your property lawyer should be unwilling to give representations as to the length of time it will take to complete your conveyancing in Salisbury.