We are planning to purchase a 1 bedroom apartment in Silsworth with a mortgage. We wish to retain our Silsworth conveyancer, however the lender advise she’s not on their "panel". It seems we have little choice but to instruct one of the mortgage company panel solicitors or retain our Silsworth property lawyer and pay for one of their panel ones to act for them. This feels very unfair; can we not require that the lender use our Silsworth conveyancer ?
Unfortunately,no. Your mortgage offer is subject to its terms and conditions, one of which will be that lawyers will on the lender’s conveyancing panel. Until recently, most lenders had large numbers of law firms on their panels: a borrower could choose one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. A further alternative is for your Silsworth conveyancing lawyer to apply to be on the conveyancing panel.
My partner and I are close to exchanging contracts on the sale of our house in Silsworth and the buyers lawyers are claiming that there is a risk of it being built on contaminated land. Any local lawyer would know that there is no such problem. For the life of me I don't know why the buyers used a nationwide conveyancing practice as opposed to a conveyancing solicitor in Silsworth. We have lived in Silsworth for three years we know of no issue. Should we contact our local Authority to seek clarification that there is no issue.
It sounds as though you may have a conveyancing firm currently acting for you. Are they able to advise? You need to check with your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out life insurance to cover that same sickness)
My wife and I have a 4 bedroom Edwardian house in Silsworth. Conveyancing lawyer represented me and Barnsley Building Society. I happened to do a free search for it on the Land Registry database and there are a couple of entries: one for freehold, the second leasehold with the exact same property. If a house is not a freehold shouldn't I have been informed?
You should review the Freehold register you have again and check the Charges Register for mention of a lease. The best way to be sure that you are also the registered owner of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Silsworth and other areas of the country and poses no real issues for owners other than when they remortgage they have to account for both freehold and leasehold interests when dealing with mortgage companies. You can also enquire as to the situation with your conveyancing practitioner who completed the work.
I am purchasing a new build house in Silsworth benefiting from help to buy. The developers refused to move on the amount so I negotiated £7000 of additionals instead. The house builders rep advised me not to tell my conveyancer about this extras as it could jeopardize my mortgage with the lender. Do I keep my lawyer in the dark?.
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.
I am thinking of appointing a conveyancing solicitor in Silsworth for my sale. Can I check a firm’s complaints history with the legal regulator?
Members of the public may search for documented Solicitor Regulator Association (SRA) determinations stemming from investigations from 2008 onwards. Go to Check a solicitor's record. To find details about the period before 1 January 2008, or to check a solicitors history, phone 0870 606 2555, 08.00 - 18.00 Monday, Wednesday, Thursday, Friday and 09.30 - 18.00 Tuesday. For callers outside the UK, call +44 (0)121 329 6800. The regulator may recorded telephone calls for training purposes.
I am tempted by the attractive purchase price for a two apartments in Silsworth both have approximately forty five years remaining on the leases. should I be concerned?
There are plenty of short leases in Silsworth. The lease is a right to use the premises for a period of time. As a lease shortens the saleability of the lease deteriorates and results in it becoming more expensive to acquire a lease extension. For this reason it is often a good idea to extend the lease term. It is often difficulties arise selling premises with a short lease because mortgage companies may be unwilling to lend money on such properties. Lease extension can be a protracted process. We advise that you seek professional help from a conveyancer and surveyor with experience in this arena.
I am the registered owner of a basement flat in Silsworth, conveyancing having been completed half a dozen years ago. How much will my lease extension cost? Corresponding flats in Silsworth with an extended lease are worth £260,000. The ground rent is £45 per annum. The lease finishes on 21st October 2101
With only 75 years unexpired we estimate the price of your lease extension to be between £8,600 and £9,800 plus costs.
The suggested premium range that we have given is a general guide to costs for renewing a lease, but we cannot give you the actual costs without more comprehensive investigations. You should not use this information in a Notice of Claim or as an informal offer. There may be additional concerns that need to be considered and clearly you want to be as accurate as possible in your negotiations. Please do not move forward based on this information without first seeking the advice of a professional.