Am I correct in assuming that the fact that my solicitor in Silverdale is not listed on my lender's solicitor panel that there is a problem with the quality of her conveyancing?
That would more than likely be a wrong assumption to make. There are plenty of reasonable explanations. Just recently a report by the solicitors regulator revealed that over three quarters of law firms surveyed had been removed from at least one lender panel. The top 5 reasons are as follows: (1) low volume of transactions (2) the lawyer is a sole practitioner (3) as part of the HSBC panel reduction (4) regulatory contact by SRA (5) accidental removal. Should you be concerned you should contact the Silverdale conveyancing practice and enquire why they are no longer on the approved list for your lender.
The Silverdale conveyancing firm that I appointed last week on my purchase in Silverdale have suddenly closed. I only went with them because I needed a firm on the Nottingham conveyancing panel and my family Silverdale lawyer was not. I gave my credit card details for them to take £195 for searches. What should be my next steps?
Assuming that you have an Estate Agent in the equation then let them know immediately so that they advise the vendors that there may be a slight delay due to the problems encountered. Hopefully they will be sympathetic and urge their lawyer to send a new set of papers to your new solicitors. You should appoint new lawyers that are on the Nottingham conveyancing panel and notify the lender. If you have paid over any money, it will hopefully be held by the SRA as money in an intervened firm's bank accounts is transferred to the SRA. Then, the SRA or the intervention agent looks at the intervened firm's accounts to work out who the money belongs to. To claim your money you will need to contact the SRA. If the SRA cannot return money you are owed from the firm's bank accounts, or if they can only return part of the money, you can apply to the Compensation Fund for a grant. Your new solicitors may be able to help.
What is the difference between a licensed conveyancer and conveyancing solicitor in Silverdale
There are many registered licenced Conveyancers in Silverdale and Solicitor firms in Silverdale offering conveyancing It is important to make clear that both are regulated professionals specialising in the legal aspects of transferring property. They may both also deal with other property legal work such as remortgage conveyancing, enfranchisement and transfer of equity conveyancing.
Is there a list of Santander panel conveyancers in Silverdale on the Council of Mortgage Lender’s Website?
No. There is no such facility on the CML or Building Society Association websites. Very few banks make their panel listings viewable on the web. If you are looking for a Silverdale property lawyer on the Santander please use our facility.
I am due to exchange contracts on my apartment. I had a double glazing fitted in August 2006, but did not receive a FENSA certificate or Building Regulation Certificate. My purchaser’s lender, Nationwide are being problematic. The Silverdale solicitor who is on the Nationwide conveyancing panel is recommending indemnity insurance as a solution but Nationwide are insisting on a building regulation certificate. Why do Nationwide have a conveyancing panel if they don't accept advice from them?
It is probably the case that Nationwide have referred the matter to their valuer. The reason why Nationwide 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.
What does a local search reveal regarding the property I am purchasing in Silverdale?
Silverdale conveyancing often starts with the submitting local authority searches directly from your local Authority or through a personal search organisations for example PSG The local search plays a central part in many a Silverdale conveyancing purchase; that is if you don’t want any nasty surprises after you move into your property. The search will reveal data on, amongst other things, details on planning applications relevant to the property (whether granted or refused), building control history, any enforcement action, restrictions on permitted development, nearby road schemes, contaminated land and radon gas; in all a total of 13 subject headings.
I am looking for a ground for flat up to £195,000 and found one close by in Silverdale I like with open areas and station in the vicinity, however it only has 49 years on the lease. There is not much else in Silverdale in this price bracket, so just wondered if I would be making a mistake buying a short lease?
If you need a mortgage the remaining unexpired lease term may be a potential deal breaker. Reduce the offer by the expected lease extension will cost if it has not already been discounted. If the existing proprietor has owned the premises for at least twenty four months you could ask them to start the process of the extension and pass it to you. An additional ninety years can be extended on to the existing lease with a zero ground rent applied. You should speak to your conveyancing solicitor about this matter.
I own a leasehold house in Silverdale. Conveyancing and Halifax mortgage went though with no issue. A letter has just been received from someone claiming to own the reversionary interest in the property. Attached was a ground rent demand for rent dating back to 1994. The conveyancing solicitor in Silverdale who acted for me is not around. Any advice?
The first thing you should do is make enquiries of the Land Registry to be sure that this person is indeed the registered owner of the freehold reversion. There is no need to instruct a Silverdale conveyancing solicitor to do this as you can do this on the Land Registry website for a few pound. Rest assured that in any event, even if this is the legitimate freeholder, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
I am the registered owner of a 1 bedroom flat in Silverdale, conveyancing was carried out July 2008. Can you work out an approximate cost of a lease extension? Equivalent properties in Silverdale with an extended lease are worth £222,000. The average or mid-range amount of ground rent is £50 invoiced annually. The lease runs out on 21st October 2095
With 70 years remaining on your lease we estimate the price of your lease extension to span between £9,500 and £11,000 as well as costs.
The suggested premium range above a general guide to costs for renewing a lease, but we are not able to provide the actual costs without more detailed due diligence. Do not use this information in tribunal or court proceedings. There may be additional issues that need to be considered and you obviously want to be as accurate as possible in your negotiations. You should not move forward placing reliance on this information before getting professional advice.