Can you suggest a Alliance & Leicester sanctioned Silsworth conveyancing practice who can have us moved in within less than a month? Am I best advised to go for a local Silsworth practice or an internet firm?
We can recommend some very good Silsworth conveyancing firms. Another option is to visit the high street in Silsworth. Visit some well established firms and request to see a conveyancing solicitor for a quote. Explain your deadline together with the reasons and get a commitment on your deadline. Appoint the lawyer that you are most comfortable with.
Do the Building Society Association intend to launch a online directory to list law firms on the Loughborough BS conveyancing panel for instance in Silsworth?
We would not expect to be advised of any intention on the part of the BSA to develop such a register.
I am buying a new build house in Silsworth with the aid of help to buy. The sellers refused to budge the price so I negotiated 6k of extras instead. The estate agent advised me not inform my solicitor about the side-deal as it could impact my loan with the bank. Is this normal?.
All lenders require a Disclosure of Incentives Form from the builder of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
Due to the input of my in-laws I had a survey completed on a house in Silsworth before instructing lawyers. I have been advised that there is a flying freehold aspect to the property. Our surveyor has said that some banks may not give a mortgage on such a home.
It depends who your proposed lender is. Lloyds has different requirements for example to Halifax. If you call us we can look into this further via the appropriate mortgage company. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Silsworth. Conveyancing may be slightly more expensive based on your lender's requirements.
We're first time buyers - agreed a price, but the property agent informed us that the seller will only issue a contract if we instruct their preferred lawyers as they want an ‘expedited deal’. My instinct tells me that we should use a high street solicitor with experience of conveyancing in Silsworth
It is highly unlikely the sellers are driving this. Should the vendor desire ‘a quick sale', taking such a hostile approach to a serious purchaser is counter productive. Try to communicate with the vendors directly and make the point that (a)you are keen to buy (b)you are excited to move forward, with finances in place © you are unencumbered (d) you wish to move quickly (e)however you are going to appoint your preferred Silsworth conveyancing solicitors - not the ones that will provide their estate agent a kickback or meet his conveyancing targets demanded by head office.
I am looking at a couple of flats in Silsworth both have about 50 years unexpired on the lease term. should I be concerned?
There is no doubt about it. A leasehold flat in Silsworth is a deteriorating asset as a result of the shortening lease. The nearer the lease gets to its expiry date, the more it adversely affects the marketability of the premises. For most buyers and banks, leases with less than 75 years become less and less attractive. On a more upbeat note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the premises for two years (unlike a Section 13 notice for purchasing the freehold, when leaseholders can participate from day one of ownership). When successful, they will have the right to an extension of 90 years to the current term and ground rent is effectively reduced to zero. Before moving forward with a purchase of a property with a short lease term remaining you should talk to a solicitor specialising in lease extensions and leasehold enfranchisement. We are are happy to put you in touch with Silsworth conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. More often than not it is possible to negotiate informally with the freeholder to extend the lease. You may find he or she is happy to negotiate informally and willing to consider your offer straight off, without having to involve anyone else. This will save you time and money and it could help you reach a lower price on the lease. You need to ensure that the agreed terms represent good long-term value compared with the standard benefits of the Section 42 Notice and that onerous clauses are not inserted into any redrafting of the lease.
I own a leasehold flat in Silsworth, conveyancing was carried out 3 years ago. Can you please calculate a probable premium for a statutory lease extension? Similar flats in Silsworth with a long lease are worth £191,000. The average or mid-range amount of ground rent is £55 levied per year. The lease ends on 21st October 2078
With just 53 years unexpired we estimate the price of your lease extension to span between £27,600 and £31,800 plus professional fees.
The suggested premium range above a general guide to costs for renewing a lease, but we are not able to supply a more accurate figure in the absence of comprehensive investigations. Do not use the figures in a Notice of Claim or as an informal offer. There may be other concerns that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. Neither should you move forward based on this information without first seeking the advice of a professional.