Our solicitor has discovered a a legal deficiency with the lease for the property we are buying in Newbury. The seller’s lawyers have suggested defective title insurance as a solution. We are content with insurance and will pay for it. Our conveyancing practitioner says that he must check that the lender is content with this solution. Are we the client or is the bank?
The short answer to your last question is that, notwithstanding the potential for a conflict of interest, you and the lender are the client. Your property lawyer must comply with the UK Finance Lenders’ Handbook specifications. The UK Finance Lenders’ Handbook conditions require your lawyer to disclose issues such as defects with the lease so that the bank can be afforded the opportunity to check with their valuer as to the extent that the value of the property is affected. Should you refuse to allow your lawyer to make the appropriate notification then your conveyancer will have no choice but to discontinue acting for you.
Why do I have to pay up front when it comes to conveyancing in Newbury?
Where you are retaining lawyers for conveyancing in Newbury your solicitor will ask you to provide them with funds to cover the the cost of the conveyancing searches. This will be the total of the cost of the conveyancing searches. If any down payment is as part of the purchase price then this will be required shortly ahead of contracts are exchanged. Any further balance that is due should be transferred shortly before completion.
Will my conveyancing lawyers need to check that the building insurance when buying a house in Newbury. My lender is The Mortgage Works
The Mortgage Works have specific requirements as set out in the UK Finance Lenders’ Handbook. As of 5/7/2025, the requirements read as follows :
We are purchasing a house and the conveyancer has identified Chancel Repair for which the house may be obligated to pay because it falls into the area of such a church. She has recommended insurance. Is this strictly required for conveyancing in Newbury
Unless a previous acquisition of the premises took place after 12 October 2013 you can expect solicitors carrying out conveyancing in Newbury to continue to advocate a chancel search and or insurance against a claim.
four months have gone by following my purchase conveyancing in Newbury took place. I have checked the Land Registry website which shows that I paid £175,000 when infact I paid £160,000. 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.
The estate agent has sent us the confirmation of our purchase of a new build flat in Newbury. Conveyancing is a frightening process at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build legal work.
Here is a sample of a selection of leasehold new build enquiries that you may expect your new-build leasehold conveyancing in Newbury
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If there are lifts in the building, please confirm that the owners of flats on the ground and basement floors will not be required to contribute towards the cost of maintenance and renewal. Where there is an Undertaking being granted there is the risk of forfeiture of the Headlease subject to relief if one or more of the Underlessees are willing to accept the original Head Lessee’s obligations as otherwise relief will be denied to the Underlessees. The only alternatives are the Head Lessor agreeing not to forfeit the Headlease or the Head Lessee guaranteeing to the Underlessees that it will not be in breach of the Headlease. The Landlord must covenant to assume the management if the Management Company goes into liquidation or otherwise defaults in running the management scheme. Please confirm the Lease plans are architect prepared. Will the freehold then be transferred for a nominal consideration (not exceeding £100) to the Management Company?