Will my conveyancing lawyers need to check that the building insurance for my purchase of a house in Laceby. My lender is Bank of Ireland
Bank of Ireland have specific requirements as set out in the UK Finance Lenders’ Handbook. As of 27/7/2026, the requirements read as follows :
My wife and I have organised the release of further monies on our mortgage from Virgin Money as we want to conduct renovations to our house in Laceby. Are we obliged to choose a nearby Laceby solicitor on the Virgin Money conveyancing panel to handle the legals?
Virgin Money do not ordinarily require firms on their approved list of lawyers to deal with such a matter. If they do require any legal work then you would need to ensure that such a lawyer was on the Virgin Money panel.
I am expecting a DIP from Bank of Ireland this week so we can work out what to offer on a property we like as otherwise we are dependent on web based calculators (which aren't taking into account credit checks etc). Do Bank of Ireland recommend any Laceby solicitors on the Bank of Ireland conveyancing panel, or is it better to go independently?
You will need to appoint Laceby solicitors independently although you'll need to choose one on the Bank of Ireland conveyancing panel. The solicitor represents both you and Bank of Ireland through the process.
It is not clear whether my lender requires a lease extension. I have called my Laceby bank branch on various occasions and was told they are content with the situation and they will lend. My Laceby conveyancing solicitor - who is on the bank conveyancing panel- telephoned to say that they will not lend in accordance with their UK Finance Lenders’ Handbook minimum lease term requirements. Who do I believe?
As long as the lawyer is on the lender approved list, she or he must follow the CML Handbook specifications for the bank. Unless your lawyer obtains specific confirmation in writing that the mortgage company will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the mortgage company to contact your lawyer in writing confirming that they will accept the number of years remaining.
2 months have gone by following my purchase conveyancing in Laceby completed. I have checked the Land Registry website which shows that I paid £175,000 when infact I paid £170,000. 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.
Due to the guidance of my in-laws I had a survey completed on a property in Laceby in advance of instructing solicitors. I have been advised that there is a flying freehold aspect to the house. Our surveyor advised that some banks will not grant a loan on a flying freehold property.
It varies from the lender to lender. Santander has different requirements for example to Nationwide. If you contact us we can investigate further via the relevant mortgage company. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Laceby. Conveyancing may be slightly more expensive based on your lender's requirements.
I work for a long established estate agent office in Laceby where we have experienced a number of flat sales derailed due to leases having less than 80 years remaining. I have been given inconsistent advice from local Laceby conveyancing solicitors. Please can you clarify whether the vendor of a flat can commence the lease extension process for the buyer?
Provided that the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to kick-start the lease extension process and assign the benefit of the notice to the purchaser. This means that the proposed purchaser can avoid having to wait 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed before, or simultaneously with completion of the disposal of the property.
Alternatively, it may be possible to agree the lease extension with the freeholder either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the buyer.
Leasehold Conveyancing in Laceby - Examples of Queries before Purchasing
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Best to be warned whether fixing the lift or some other significant cost is anticipated that will be shared amongst the leasehold owners and will materially increase the the service charges or necessitate a one off payment. Is anyone aware of any major works anticipated that will increase the service charges? Is there a share of the freehold?
At what stage do I cover the costs of the Stamp Duty Land Tax due for my house transaction in Laceby?
The majority of conveyancers tend to complete a Land Transaction Return Form on your behalf as part of your Laceby conveyancing transaction for you to sign. After completion your lawyer will submit your Land Transaction Return Form to the Inland Revenue and - assuming they have the funds - discharge any Stamp Duty payable for you.