Why is leasehold purchase conveyancing in Silverdale costs more?
In short, leasehold conveyancing in Silverdale and elsewhere usually requires more hours of investigation compared to freehold transactions. This includes analysing the lease terms, communicating with the landlord about the service of applicable notices, procuring up-to-date service charge and management information, procuring the landlord’s consents and reviewing management accounts. The obligations on both the landlord and the tenant in the lease need to be studied by the buyer’s conveyancing team and read from beginning to end – regardless of the fact the lease has passed through many different property solicitors hands since it was first entered into.
Can you clarify what the consequences are if my lawyer’s firm is removed from the Principality Solicitor panel ahead of completing my conveyancing in Silverdale?
The first thing to point out is that, this is a very rare occurrence. In most cases even where a law firm is removed off of a panel the lender would allow the completion to go ahead as the lender would appreciate the difficulties that they would place you in if you have to instruct a new solicitor days before completion. In a worst case scenario where the lender insists that you instruct a new firm then it is possible for a very good lawyer to expedite the conveyancing albeit that you may pay a significant premium for this. The analogous situation is where a buyer instructs a lawyer, exchanges contracts and the law firm is shut down by a regulator such as the SRA. Again, in this situation you can find lawyers who can troubleshoot their way to bring the conveyancing to a satisfactory conclusion - albeit at a cost.
A colleague advised me that where I am purchasing in Silverdale I should ask my conveyancer to carry out a Neighbourhood, Planning and Local Amenity Search. Can you explain what the purpose of this search is?
This is a search is occasionally included in the estimate for your Silverdale conveyancing searches. It is not a small document of about 40 pages, listing and setting out important information about Silverdale around the property and the people living there. It incorporates an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the local Housing Market, Council Tax Banding, the type of People living in the area, the dominant type of Housing, the Average House Prices, Crime details, Local Education with maps and statistics, Local Amenities and other useful information concerning Silverdale.
I used Wolstenholmes several years past for my conveyancing in Silverdale. Now, I need my files however cannot find the solicitor. What do I do?
You should call the Solicitors Regulatory Authority (SRA) to assist in tracking down 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 Silverdale of the conveyancing firm of solicitors you previously retained, the name of conveyancing solicitor with whom you had dealings, and the date on which you last had dealings with the firm.
I am looking for a ground for flat up to £235,500 and found one round the corner in Silverdale I like with amenity areas and railway links nearby, however it only has 51 remaining years left on the lease. I can't really find anything else in Silverdale suitable, so just wondered if I would be making a grave error purchasing a lease with such few years left?
Should you require a mortgage that many years may be problematic. Discount the price 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 2 years you can ask them to 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 about this matter.
I have recently placed an offer on a leasehold flat in Silverdale and the mortgage adviser that we are dealing with suggested his conveyancer. He quoted nine hundred pounds plus VAT and disbursements. Does this sound steep?
You should not rely on 1 quote. You should seek like-for-like quotes for your conveyancing in Silverdale. Then select one that you trust and crucially, is on the approved panel of the bank that you are sourcing your mortgage from.