I am told that my conveyancing solicitors will need to check that the building insurance when buying a house in Bloxham. My lender is Tesco Bank
Tesco Bank have specific requirements as set out in the UK Finance Lenders’ Handbook. As of 20/4/2025, the requirements read as follows :
What will a local search inform me regarding the property I am buying in Bloxham?
Bloxham conveyancing often starts with the applying for local authority searches directly from your local Authority or via a personal search organisations for instance Searches UK The local search plays an important part in most Bloxham conveyancing purchase; that is if you don’t want any nasty surprises after you move into your new home. The search should supply data on, amongst other things, details on planning applications relevant to the premises (whether granted or refused), building control history, any enforcement action, restrictions on permitted development, nearby road schemes, contaminated land and radon gas; in all a total of thirteen topic sections.
Are there restrictive covenants that are commonly picked up as part of conveyancing in Bloxham?
Covenants that are restrictive in nature can be picked up when reviewing land registry title as part of the process of conveyancing in Bloxham. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
Over the last few months I have been searching for a leasehold apartment up to £305k and found one round the corner in Bloxham I like with open areas and transport links nearby, the downside is that it only has 52 years unexpired on the lease. There is not much else in Bloxham for this price, 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 problematic. Reduce the price by the expected lease extension will cost if not already taken into account. If the existing owner has owned the property for a minimum of twenty four months you can ask them to start the process of the extension and pass it to you. You can add 90 years to the current lease term with a zero ground rent applied. You should consult your conveyancing solicitor about this matter.
Am I best advised to go with a Bloxham conveyancing solicitor who is local to the property I am buying? We have a good friend who can execute the legal formalities however her office is approximately 350miles away.
The benefit of a high street Bloxham conveyancing firm is that you can pop in to execute paperwork, deliver your identification documents and apply pressure on them if necessary. They will also have local insight which is a benefit. However it's more important to get someone that will do a good and efficient job. If you know people who instructed your friend and on the whole were impressed that should trump using an unknown Bloxham conveyancing solicitor solely due to them being based in the area.
Do you have any advice for leasehold conveyancing in Bloxham with the intention of saving time on the sale process?
- A significant proportion of the frustration in leasehold conveyancing in Bloxham can be avoided where you appoint lawyers the minute your agents start advertising the property and request that they start to collate the leasehold documentation needed by the buyers’ representatives. If there is a history of any disputes with your freeholder or managing agents it is essential that these are resolved prior to the flat being put on the market. The buyers and their solicitors will be warry about purchasing a flat where there is a current dispute. You may have to bite the bullet and discharge any arrears of service charge or resolve the dispute prior to the buyers completing the purchase. It is therefore preferable to have any dispute settled ahead of the contract papers being issued to the buyers’ solicitors. You will still have to reveal details of the dispute to the purchasers, but it is clearly preferable to present the dispute as over as opposed to unresolved. If you are supposed to have a share in the Management Company, you should make sure that you are holding the original share document. Obtaining a new share certificate can be a lengthy process and frustrates many a Bloxham conveyancing transaction. Where a reissued share certificate is necessary, you should approach the company director and secretary or managing agents (if applicable) for this sooner rather than later. Some Bloxham leases require Landlord’s consent to the sale and approval of the buyers. 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. Any 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 service charge figures so that they can pass this information on to the purchasers or their solicitors.
I acquired a ground floor flat in Bloxham, conveyancing formalities finalised 10 years ago. How much will my lease extension cost? Comparable flats in Bloxham with an extended lease are worth £216,000. The ground rent is £50 yearly. The lease ends on 21st October 2095
With just 70 years remaining on your lease we estimate the premium for your lease extension to be between £9,500 and £11,000 plus legals.
The suggested premium range above a general guide to costs for extending a lease, but we cannot give you the actual costs in the absence of comprehensive due diligence. You should not use the figures in tribunal or court proceedings. There are no doubt additional issues that need to be considered and you obviously should be as accurate as possible in your negotiations. Neither should you take any other action based on this information before seeking the advice of a professional.