My wife and I are about to complete on the purchase of a house in Bedworth but as a result of wreckage from a small fire at the property I have was able negotiate reparation from the owner in the sum of £2k taking the form of a adjustment in the price. I had intended this to be dealt with as part of the conveyancing process but Kent Reliance are not allowing this. Should they have been involved?
The property lawyer that is on a Kent Reliance approved list is obliged to disclose to Kent Reliance of any variations to the sale price. If you were to refuse your conveyancing practitioner to notify the price change to Kent Reliance then they would have to discontinue acting for you. In addition, Kent Reliance and you would have to appoint a new lawyer for your conveyancing in Bedworth.
Why is leasehold purchase conveyancing in Bedworth is more expensive?
In summary, leasehold conveyancing in Bedworth and Warwickshire usually necessitates extra work compared to freehold conveyancing. This includes lease investigation, liaising with the landlord about serving applicable notices, procuring up-to-date service charge and management information, obtaining the freeholder’s consents and reviewing management accounts. The obligations on both the landlord and the tenant in the lease need to be studied by the buyer’s conveyancing team and read from beginning to end – no matter how many different owners have owned the lease since it was first granted.
I am told that my conveyancing solicitors will need to check that the building insurance for my purchase of a house in Bedworth. My lender is Platform
Platform have specific requirements as set out in the UK Finance Lenders’ Handbook. As of 18/4/2025, the requirements read as follows :
I am looking for a leasehold apartment up to £305k and identified one near me in Bedworth I like with open areas and station nearby, however it only has 49 remaining years left on the lease. There is not much else in Bedworth in this price bracket, so just wondered if I would be making a grave error purchasing a short lease?
Should you require a home loan the shortness of the lease may be a potential deal breaker. Discount the price by the anticipated lease extension will cost if not already taken into account. If the existing owner has owned the premises for at least 2 years you could ask them to start the process of the extension and then assign it to you. You can add 90 years to the existing lease and have £0 ground rent by law. You should speak to your conveyancing lawyer about this.
Are there frequently found defects that you encounter in leases for Bedworth properties?
Leasehold conveyancing in Bedworth is not unique. Most leases are drafted differently and legal mistakes in the legal wording can sometimes mean that certain provisions are not included. For example, if your lease is missing any of the following, it could be defective:
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Clauses dealing with recovering service charges for expenditure on the building or common parts.
You will have difficulties when selling your property if you have a defective lease as they can affect a potential buyer’s ability to obtain a mortgage. National Westminster Bank, Bank of Scotland, and Platform Home Loans Ltd all have express conveyancing instructions when it comes to what is expected in a lease. If a mortgage lender believes that the lease is defective they may refuse to provide security, forcing the purchaser to withdraw.
Bedworth Leasehold Conveyancing - Sample of Questions you should consider before Purchasing
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Generally speaking the outlay for major works are not incorporated into the service charges, although some managing agents in Bedworth ask leaseholders to contribute towards a reserve fund created for the specific intention of establishing a fund for major repairs or maintenance. Who is in charge of the building?
My husband and I accepted an offer on a Bedworth property we inherited 5 years ago in 2010. I have over twenty years conveyancing know-how and, although retired, wish to undertake the conveyancing. The purchaser's conveyancer has informed me that their Lenders will not allow us to do our own conveyancing mandating that the funds to be transferred to a solicitor's bank account.
Mortgage requirements to solicitors from all mainstream lenders specify that If the vendor is not legally represented the buyer’s lawyers should check whether the mortgage company needs to be told so that a decision can be made as to whether they are willing to progress.