Will my conveyancing lawyers need to check that the building insurance when buying a house in Osterley. My lender is Platform

Platform have specific requirements as set out in the UK Finance Lenders’ Handbook. As of 9/11/2024, the requirements read as follows :

How does conveyancing in Osterley differ for new build properties?

Most buyers of new build premises in Osterley come to us having been asked by the seller to exchange contracts and commit to the purchase even before the residence is built. This is because developers in Osterley usually purchase the site, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are used to new build conveyancing in Osterley or who has acted in the same development.

Over the last few months I have been searching for a ground for flat up to £305k and found one near me in Osterley I like with a park and station in the vicinity, the downside is that it's only got 61 remaining years left on the lease. I can't really find anything else in Osterley in this price bracket, so just wondered if I would be making a mistake purchasing a lease with such few years left?

Should you require a home loan the remaining unexpired lease term will likely be problematic. Reduce the price by the amount the lease extension will cost if it has not already been discounted. If the current proprietor has owned the premises for at least twenty four months you could ask them to start the process of the extension and then assign it to you. An additional ninety years can be extended on to the current lease term with a zero ground rent applied. You should consult your conveyancing lawyer about this.

Is it best to use a Osterley conveyancing solicitor who is local to the property I am purchasing? We have a good friend who can perform the legal work but they are based 400kilometers away.

The primary upside of using a local Osterley conveyancing practice is that you can pop in to sign documents, deliver your identification documents and apply pressure on them if necessary. They will also have local intelligence which is a plus. However nothing is more important than finding someone that will do a good and efficient job. If other friends have used your friend and in the main were happy that should surpass using an unfamiliar Osterley conveyancing solicitor just because they are based in the area.

The financial adviser has suggested using their property lawyer for my conveyancing in Osterley - Is it not simpler easier to just instruct them?

You need to establish if the selling agent is recommending a lawyer or introducing to a lawyer. There are plenty of Osterley estate agents who recommend two or three Osterley conveyancing firms and get nothing from it.