The Silsoe conveyancing firm handling our Silsoe conveyancing has discovered a difference when comparing the surveyor’s assumptions in the valuation report and what is in the legal papers for the property. My lawyer says that he needs to check that the lender is OK with this discrepancy and is content to go ahead. Is my solicitor’s approach appropriate?
Your conveyancing practitioner must comply with the UK Finance Lenders’ Handbook provisions which do require that your lawyer disclose any incorrect assumptions in the lender’s valuation report and the legal papers. Should you refuse to allow your lawyer to make the appropriate notification then your lawyer will have no choice but to discontinue acting for you.
I note that there are debates on Chancel Insurance on online forums. Do I need this when purchasing a property in Silsoe? or I am told that there is an ancient law that could mean that house owners residing in a parish church boundary may be liable to contribute towards maintenance to the chancel in proximity to the church. Is this appropriate for conveyancing in Silsoe?
Unless a prior acquisition of the house completed after 12 October 2013 you can assume that conveyancing practitioners carrying out conveyancing in Silsoe to remain encouraging a chancel search and or chancel repair liability policy.
I used Arc property Solicitors several years ago for my conveyancing in Silsoe. I now require my file but cannot find the solicitor. What do I do?
You should call the Solicitors Regulatory Authority (SRA) to assist in tracing your conveyancing files. They can be contacted on please contact on 0870 606 2555. Alternatively, you should use their online form to make an enquiry. You will need to provide the SRA with as much information as possible to assist their search, including the name and address in Silsoe of the conveyancing firm of solicitors you previously used, the name of conveyancing solicitor with whom you had dealings, and the date on which you last had dealings with the firm.
Just had an offer accepted on a new build apartment in Silsoe. Conveyancing is daunting 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 Silsoe
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Where service of notices and proceedings can be at the property demised please confirm that this can be amended to include simultaneous services at the Lessees’ solicitors’ offices where the Lessee from time to time is not resident in the UK - such solicitors may be varied by notice in writing to the Landlord from time to time but otherwise will be as previously specified. Please confirm the Lease plans are architect prepared. There must be mutual enforceability of lessee’s covenants. Please supply evidence that the form of Lease proposed has been approved by the Land Registry. Investor purchasers must be able to freely grant unsecured tenancies at market rents without requiring any consents.
I have been on the look out for a leasehold apartment up to £245,000 and found one close by in Silsoe I like with a park and station in the vicinity, however it only has 51 years on the lease. There is not much else in Silsoe suitable, so just wondered if I would be making a mistake buying a short lease?
If you need a mortgage the shortness of the lease will be an issue. Discount the offer by the expected lease extension will cost if it has not already been discounted. If the existing owner has owned the property for a minimum of twenty four months you can request that they commence the lease extension formalities and then assign it to you. You can add 90 years to the existing lease and have £0 ground rent by law. You should speak to your conveyancing solicitor concerning this.
I own a leasehold flat in Silsoe. Conveyancing was finalised in last year. I have heard that I mustn’t allow the the remaining lease term to fall too low. Why is that a problem?
Silsoe leasehold properties are for a fixed term - normally 99 years when they are first granted. However a significant appartments in Silsoe were built or converted in the 70’s80’s and so these leases now have under 80 years left to run. This may seem like a long time but Banks, Building Societies and other mortgage companies generally require leases to have at least seventy five years unexpired to adequate security. This means that when you come to sell the property you will need to extend the term of your lease if you are approaching seventy five years. To enhance your property value you should be considering whether or not to extend your lease long before you come to sell it. Furthermore strong financial reasons to taking action before the lease hits 80 years as when the lease is less than eighty years the amount to be paid to extend starts to escalate.