We expect to receive a DIP from Virgin Money this week so we know how much we could potentially offer as otherwise we are dependent on web based calculators (which aren't taking into account credit checks etc). Do Virgin Money recommend any Sileby solicitors on the Virgin Money conveyancing panel, or is it better to go independently?
You will need to appoint Sileby solicitors independently although you'll need to choose one on the Virgin Money conveyancing panel. The solicitor represents both you and Virgin Money through the process.
It is not clear whether my bank requires a lease extension. I have called my Sileby building society branch on numerous occasions and was told they are content with the situation and they would lend. My Sileby conveyancing solicitor - who is on the mortgage company conveyancing panel- called to say that they will not lend based on their specific requirements. I simply don't know who is right.
Provided that the conveyancer is on the lender panel, she or he must comply with the CML Handbook specifications for the lender. Unless your lawyer obtains specific confirmation in writing that the lender 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 bank to contact your lawyer in writing confirming that they will accept the number of years remaining.
Our offer on a semi in Sileby has been accepted, but there is a chain. The owners have offered on a flat, however it’s not been accepted yet, and are looking at other flats in the pipeline. I have selected a nearby conveyancing solicitor in Sileby. What do I do now? At what point should I apply for the mortgage with Lloyds?
It is understandable to have anxieties where there is a chain as you are unlikely to want to incur expenses prematurely (home loan application is approx £1k, then valuation, Sileby conveyancing search charges, etc). First, you must check that your lawyer is on the Lloyds approved list. As to the subsequent steps this very much dictated by the circumstances of your transaction, desire for this property and on the state of the market. In a hot market some home buyers will apply for a home loan with Lloyds and pay for the valuation and only if it comes back ok would they pay their conveyancer to press on with searches.
Do commercial conveyancing searches reveal planned roadworks that may affect a commercial property in Sileby?
Its becoming the norm that commercial conveyancing solicitors in Sileby will perform a SiteSolutions Highways report as it reduces the time that conveyancers expend in looking into accurate data on highways that impact buildings and development assets in Sileby. The search result sets out definitive data on the adoption status of roads, footpaths and verges, as well as the implication of traffic schemes and the rights of way surrounding a commercial development sites in Sileby.
For each commercial conveyancing transaction in Sileby it is critical to investigate the adoption status of roads surrounding a site. Failure to identify developments where adoption procedures have not been addressed adequately could cause delays to Sileby commercial conveyancing transactions as well as present a risk to future intentions for the site. These searches are not carried out for residential conveyancing in Sileby.
Despite weeks of looking the Title Certificate and documents to my property are lost. The lawyers who conducted the conveyancing in Sileby 4 years ago are no longer around. What are my options?
Assuming you have a registered title the details of your proprietorship will be held by the Land Registry with a Title Number. It is possible to carry out a search at the Land Registry, identify your house and obtain up to date copies of the Registered Entries for a small fee. If the title is Leasehold then the Land Registry will also normally hold a certified duplicate of the Registered Lease and again, a copy can be obtained for twenty pounds.
Yesterday I discovered that there is a flying freehold issue on a property I put an offer in a fortnight ago in what should have been a quick, no chain conveyancing. Sileby is where the house is located. What do you suggest?
Flying freeholds in Sileby are unusual but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Sileby you would need to get your solicitor to go through the deeds very carefully. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Sileby may decide that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold premises.
I am looking into buying my first house which is in Sileby and I am already nervous. I couldn't find anything specific about Sileby. Conveyancing will be needed in due course but do you know about the Sileby area? or perhaps some other tips you can share?
Rather than looking online forget looking online you should go and have a look at Sileby. In the meantime here are some basic statistics that we found
I am in need of some leasehold conveyancing in Sileby. Before diving in I would like to find out the unexpired term of the lease.
If the lease is registered - and most are in Sileby - then the leasehold title will always include the short particulars of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title. For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.
I acquired a leasehold flat in Sileby, conveyancing was carried out in 2003. Can you let me have an estimated range of the fair premium for a lease extension? Comparable properties in Sileby with over 90 years remaining are worth £190,000. The average or mid-range amount of ground rent is £65 per annum. The lease ceases on 21st October 2086
With just 61 years remaining on your lease we estimate the premium for your lease extension to range between £19,000 and £22,000 as well as professional fees.
The suggested premium range that we have given is a general guide to costs for extending a lease, but we are not able to supply a more accurate figure in the absence of detailed investigations. You should not use the figures in tribunal or court proceedings. There are no doubt other issues that need to be considered and clearly you should be as accurate as possible in your negotiations. Neither should you move forward based on this information before getting professional advice.