My solicitor has discovered a defect with the lease for the property we are buying in Southville. The other side have suggested defective title insurance as a solution. We are happy with insurance and will cover the costs. Our conveyancing practitioner says that he must ensure that the mortgage company is content with this solution. Are we the client or is the bank?
Even though you have a mortgage offer from the bank does not mean to say that the property will meet their conditions for the purposes of a mortgage. Your lawyer has to ensure that the lease has to comply with the UK Finance Lenders’ Handbook requirements. You and the mortgage company are the client. The appropriate lender provisions must be adhered to.
I am told that my conveyancing solicitors will need to check that the building insurance when buying a house in Southville. My lender is Tesco Bank
Tesco Bank have specific requirements as set out in the UK Finance Lenders’ Handbook. As of 31/5/2025, the requirements read as follows :
My friend suggested that if I am buying in Southville I should ask my conveyancer to carry out a Neighbourhood, Planning and Local Amenity Search. Can you explain what the purpose of this search is?
This is a search is usually included in the estimate for your Southville conveyancing searches. It is a large report of about 40 pages, listing and detailing important information about Southville around the property and the people living there. It includes an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the Southville Housing Market, Council Tax Banding, the type of People living in the area, the dominant type of Housing, the Average House Prices, Crime details, Southville Education with plans and statistics, Local Amenities and other useful data about Southville.
The estate agent has sent us the confirmation of our purchase of a new build flat in Southville. Conveyancing is daunting at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build conveyancing.
Here are examples of a selection of leasehold new build questions that you may expect your new-build leasehold conveyancing in Southville
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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. There must be mutual enforceability of lessee’s covenants. Will the freehold then be transferred for a nominal consideration (not exceeding £100) to the Management Company? The Vendor must covenant to keep unsold units in good repair until long leases are granted therefore.
Due to the input of my in-laws I had a survey completed on a property in Southville ahead of instructing conveyancers. I have been informed that there is a flying freehold aspect to the property. My surveyor has said that some mortgage companies may refuse to grant a loan on this type of premises.
It depends who your proposed lender is. Santander has different instructions from Birmingham Midshires. Should you wish to call us we can check with the appropriate mortgage company. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Southville. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Southville to see if the conveyancing will be more expensive.
In relation to leasehold conveyancing in Southville what are the most frequent lease problems?
There is nothing unique about leasehold conveyancing in Southville. All leases are individual and legal mistakes in the legal wording can result in certain clauses are not included. For example, if your lease is missing any of the following, it could be defective:
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Repairing obligations to or maintain parts of the building
A defective lease can cause problems when trying to sell a property primarily because it impacts on the ability to obtain a mortgage on the property. Nationwide Building Society, Barnsley Building Society, and Platform Home Loans Ltd all have express conveyancing instructions when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease does not cover certain provisions they may refuse to grant the mortgage, obliging the purchaser to withdraw.
I bought a ground floor flat in Southville, conveyancing was carried out October 2011. Can you give me give me an indication of the likely cost of a lease extension? Equivalent properties in Southville with an extended lease are worth £196,000. The average or mid-range amount of ground rent is £45 charged once a year. The lease terminates on 21st October 2089
With only 64 years remaining on your lease the likely cost is going to be between £15,200 and £17,600 plus legals.
The figure that we have given is a general guide to costs for renewing a lease, but we cannot give you the actual costs without more comprehensive investigations. You should not use the figures in tribunal or court proceedings. There may be other concerns that need to be taken into account and clearly you should be as accurate as possible in your negotiations. You should not take any other action placing reliance on this information without first getting professional advice.