Will my conveyancing lawyers need to check that the building insurance when buying a house in Westcliff On Sea. My lender is Virgin
Virgin have specific requirements as set out in the UK Finance Lenders’ Handbook. As of 3/3/2025, the requirements read as follows :
I have recentlybecome aware that Action Conveyancing have closed. They carried out my conveyancing in Westcliff On Sea for a purchase of a freehold house 12 months ago. How can I establish that the property is not still registered in the name of the former proprietor?
The quickest method to see if the premises is in your name, you can carry out 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 Westcliff On Sea conveyancing specialists.
How does conveyancing in Westcliff On Sea differ for newly converted properties?
Most buyers of new build premises in Westcliff On Sea contact us having been asked by the housebuilder to exchange contracts and commit to the purchase even before the premises is built. This is because house builders in Westcliff On Sea usually purchase the land, 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 conveyancing solicitors 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 Westcliff On Sea or who has acted in the same development.
How do I use the search app to choose a conveyancing practitioner in Westcliff On Sea on the panel for my mortgage?
Step one is to select a bank such as Lloyds TSB Bank, Barnsley Building Society or Aldermore then type in your location for instance Westcliff On Sea. Conveyancing practices in Westcliff On Sea and further afield should be listed.
Can you provide any top tips for leasehold conveyancing in Westcliff On Sea from the point of view of expediting the sale process?
- Much of the delay in leasehold conveyancing in Westcliff On Sea can be avoided if you instruct lawyers as soon as your agents start advertising the property and ask them to put together the leasehold information needed by the buyers’ representatives. Some Westcliff On Sea 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 obtain bank and professional references. Any bank reference should make it clear that the buyer is financially capable of paying the yearly 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. In the event that you altered the property did you need the Landlord’s consent? Have you, for example laid down wooden flooring? Westcliff On Sea leases often stipulate that internal structural changes or addition of wooden flooring necessitate a licence issued by the Landlord approving such works. Where you fail to have the approvals in place do not communicate with the landlord without checking with your solicitor first. The majority of landlords or Management Companies in Westcliff On Sea charge for providing management packs for a leasehold premises. You or your lawyers should discover the fee that they propose to charge. The management information sought on or before finding a buyer, thus reducing delays. The typical amount of time it takes to receive management information is three weeks. It is the most common reason for frustration in leasehold conveyancing in Westcliff On Sea. You may think that you are aware of the number of years remaining on your lease but you should double-check by asking your lawyers. A buyer’s conveyancer will be unlikely to recommend their client to where the remaining number of years is under 80 years. In the circumstances it is essential at an as soon as possible that you identify whether the lease term for your property needs extending. If it does, contact your solicitors before you put your premises on the market for sale.
I inherited a ground floor flat in Westcliff On Sea, conveyancing was carried out 4 years ago. Can you let me have an estimate of the premium that my landlord can legally expect in return for granting a renewal of my lease? Corresponding properties in Westcliff On Sea with over 90 years remaining are worth £179,000. The ground rent is £65 invoiced every year. The lease finishes on 21st October 2082
With just 57 years remaining on your lease we estimate the premium for your lease extension to range between £26,600 and £30,800 as well as legals.
The figure above a general guide to costs for extending a lease, but we are not able to supply the actual costs without more detailed investigations. Do not use the figures in a Notice of Claim or as an informal offer. There may be additional issues that need to be considered and you obviously should be as accurate as possible in your negotiations. You should not move forward based on this information before getting professional advice.
I have miscalculated my finances and am a couple of grand short a 10% deposit on my flat purchase in Westcliff On Sea , but I am keen exchange. What can I do?
One option is to try and accept a lesser deposit. Most property owners will accept a smaller deposit or even no deposit for a first time buyer or 100% mortgage. Be aware though that if you fail to complete you will still need to hand over a minimum of 10% of the purchase price regardless of how much deposit was agreed.
You can also agree a simultaneous exchange and completion as no deposit is required for this however neither party will be tied in until completion actually takes place and it can be risky if sellers change their mind at the last minute