Me and my partner are planning to buy a 1 bedroom flat in Silverdale with a mortgage. We like our Silverdale conveyancer, but the lender advise she’s not on their "panel". We have to appoint one of the lender panel conveyancing practices or retain our Silverdale conveyancing practitioner as well as pay for one of their panel firms to act for them. We consider that this is inequitable; are we not able to insist that the lender use our Silverdale lawyer ?
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. Another option that might be available is for your Silverdale conveyancing solicitor to apply to be on the conveyancing panel.
Do the Building Society Association intend to launch a online directory to list firms on the Melton Mowbray Building Society conveyancing panel for example in Silverdale?
We would not expect to be advised of any plans on the part of the BSA to develop such a tool.
My wife and I buying a terrace house in Silverdale. The intention is to an extension at the rear at the house.Will legal conveyancing on the property include enquiries to ascertain if these works are allowed?
Your property lawyer should check the deeds as conveyancing in Silverdale can sometimes reveal restrictions in the title deeds which restrict certain alterations or require the consent of a 3rd party. Many additions call for local authority planning permissions and approval under the building regulations. Many locations are designated conservation areas and special planning restrictions apply which frequently prevent or affect extensions. It would be wise to check these things with a surveyor prior to committing yourself to a purchase.
I am due to exchange contracts on my flat. I had a double glazing fitted in June 2007, but did not receive a FENSA certificate or Building Regulation Certificate. My purchaser’s lender, Coventry BS are being difficult. The Silverdale solicitor who is on the Coventry BS conveyancing panel is saying indemnity insurance will be fine but Coventry BS are requiring a building regulation certificate. Why do Coventry BS have a conveyancing panel if they don't accept advice from them?
It is probably the case that Coventry BS have referred the matter to their valuer. The reason why Coventry BS may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing was correctly and safely installed. The indemnity insurance merely protects against enforcement action which is very unlikely anyway.
I have finally had an offer on an apartment in Silverdale accepted, but there is a chain. The sellers have put an offer on a property, but it’s not yet tied up, and are looking at other flats in the pipeline. I have chosen a local conveyancing solicitor in Silverdale. What should be my next step? At what point should I apply for the mortgage with Lloyds?
It is normal to have concerns where there is a chain as you are unlikely to want to be too out of pocket prematurely (mortgage application is in the region of £1k, then valuation, Silverdale conveyancing search charges, etc). First, you must check that your conveyancer is on the Lloyds conveyancing panel. Concerning the next phase this very much dictated by the specifics of your case, motivation for this property and on the state of the market. In a rising market some purchasers would apply for a home loan with Lloyds and pay for the valuation and only if it was satisfactory would they request their solicitor to proceed with searches.
Are there restrictive covenants that are commonly picked up as part of conveyancing in Silverdale?
Covenants that are restrictive in nature can be picked up when reviewing land registry title as part of the legal transfer of property in Silverdale. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
I have been sourcing a conveyancing solicitor in Silverdale for my house move. Can I review a firm’s record with the legal regulator?
Anyone may read presented Solicitor Regulator Association (SRA) decisions arising from investigations started on or after 1 January 2008. Visit Check a solicitor's record. To find information about the period before 1 January 2008, or to check a solicitors record, telephone 0870 606 2555, 08.00 - 18.00 Monday, Wednesday, Thursday, Friday and 09.30 - 18.00 Tuesday. International callers, dial +44 (0)121 329 6800. The SRA could monitor call for training reasons.
I am attracted to a couple of maisonettes in Silverdale which have about forty five years remaining on the leases. Will this present a problem?
There are no two ways about it. A leasehold flat in Silverdale is a wasting asset as a result of the shortening lease. The closer the lease gets to zero years unexpired, 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 residence 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 Silverdale 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. They may agree to a smaller lump sum and an increase in the ground rent, but to shorter extension terms in return. 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.
Leasehold Conveyancing in Silverdale - Examples of Questions you should consider Prior to Purchasing
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For many Silverdale leaseholds the outlay for major works tend not to be incorporated into the service charges, albeit that a few managing agents in Silverdale obliged leasehold owners to contribute towards a sinking fund created for the specific intention of building a fund for larger works. Who is in charge of the block? Are there any major works anticipated that could increase the service charges?