Can you help - my lawyer advises that indemnity insurance type insurance is needed on my purchase. What is the level of cover for Houghton Le Spring conveyancing?
The right level of IT indemnity insurance depends on who your lender is. It would differ for example between and . The average level of cover for IT insurance is av value for loc for Houghton Le Spring. Conveyancing practitioners as opposed to borrowers take out such insurances.
It has been 2 months following my purchase conveyancing in Houghton Le Spring concluded. I have checked the Land Registry website which shows that I paid £150,000 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 asset 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.
I am looking for a flat up to £245,000 and identified one near me in Houghton Le Spring I like with amenity areas and station in the vicinity, however it only has 52 years on the lease. I can't really find anything else in Houghton Le Spring for this price, so just wondered if I would be making a grave error buying a short lease?
If you need a mortgage the remaining unexpired lease term will likely be an issue. Reduce the price by the amount the lease extension will cost if not already taken into account. If the current proprietor has owned the property for at least 2 years you can ask them to commence the lease extension formalities and pass it to you. You can add 90 years to the existing lease with a zero ground rent applied. You should speak to your conveyancing lawyer about this matter.