Our solicitor has discovered a defect with the lease for the apartment we are buying in Silverton. The seller’s lawyers have suggested defective title insurance as a solution. We are content with insurance and will pay for it. Our lawyer has advised that he must check that the bank is willing to move forward with this solution. Who is the client here, us or the mortgage company ?
Even though you have a mortgage offer from the lender does not mean to say that the property will meet their provisions for the purposes of a mortgage. Your lawyer has to ensure that the lease has to comply with the UK Finance Lenders’ Handbook conditions. You and the lender are the client. The appropriate lender specifications must be adhered to.
I own a freehold house in Silverton but still invoiced for rent, why is this and what is this?
It is rare for properties in Silverton and has limited impact for conveyancing in Silverton but some freehold properties in England (particularly common in North West England) pay an annual sum known as a Chief Rent or a Rentcharge to a third party who has no other legal interest in the land.
Rentcharge payments are usually between £2.00 and £5.00 per year. Rentcharges date back many centuries, but the Rent Charge Act 1977 barred the generation of new rentcharges from 1977 onwards.
Previous rentcharges can now be extinguished by making a lump sum payment under the Act. Any rentcharges that are still in existence in 2037 will be extinguished.
Have just purchased a repossessed house at auction in Silverton. Conveyancing is required. What are my next steps?
Now that you are exchanged you will need to appoint a conveyancing lawyer soon as you will have a fast approaching a drop dead date to complete the purchase. An auction property should have a bespoke legal pack. This should include the copy title deeds, local authority and drainage searches. If you have purchased leasehold property the conveyancing papers may provide a copy of the lease, management information and a sellers leasehold information form and associated conveyancing paperwork relating to leasehold premises. You should give this to your appointed conveyancing solicitor ASAP. You also need to ensure that you have funds in order to complete on the date specified in the contract.
This question may be naive but I am new to the home buying as a first time purchaser of a two bedroom flat in Silverton. Do I collect the keys to the house on the completion date from my solicitor? If this is the case, I will use a High Street conveyancing solicitor in Silverton?
On the day of completion you will not be required to go to the conveyancers office in Silverton. Conveyancing lawyers for you will arrange to send the completion advance to the owner’s conveyancers, and once they have received this, you will be able to receive the keys from the Estate Agents and start moving into the property. This tends to happen between 1 and 3pm.
Intending to buy a house in Silverton. I have received an online quote from a licenced conveyancer, which states: "There will be no charge for dealing with the Building Society if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the Yorkshire BS conveyancing panel. I wanted to make sure it means there will be no additional fees for dealing with the mortgage.
They are simply saying that the cost for acting for the lender is included in the fee being quoted. It is worth you checking that the Silverton property lawyer is on the Yorkshire BS conveyancing panel.
Am I right to be concerned about estate agents that I am dealing with are encouraging me to use a national conveyancing firm rather than a local Silverton conveyancing company?
As with many service providers, often suggestions from connections can be most helpful. Nevertheless there are numerous players in a conveyancing transaction; estate agents, financial adviser and banks might all put forward conveyancers to retain. On occasion the conveyancers might be known to one of the organisations as being good in their field, but occasionally there exists a financial incentive behind the endorsement. You have the discretion to choose your preferred conveyancer. Don't forget that some banks operate an approved list of lawyers you have to use for the mortgage aspect of your house move.
I need to appoint a conveyancing solicitor for freehold conveyancing in Silverton. I've discover a site which looks to be the ideal solution If it is possible to get all this stuff completed via phone that would be ideal. Should I be concerned? What should out be looking out for?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?
Can you offer any advice when it comes to appointing a Silverton conveyancing practice to carry out our lease extension conveyancing?
When appointing a conveyancer for your lease extension (regardless if they are a Silverton conveyancing firm) it is most important that he or she should be familiar with the legislation and specialises in this area of conveyancing. We recommend that you talk with several firms including non Silverton conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. The following questions could be helpful:
-
What volume of lease extensions has the firm carried out in Silverton in the last 12 months? If they are not ALEP accredited then why not?
Silverton Conveyancing for Leasehold Flats - Examples of Questions you should consider before Purchasing
-
Please tell me if there are any major works in the planning that will increase the service charges? You will want to find out as much as you can about the managing agents as they will impact your use and enjoyment of the property. Being a leasehold owner you will be at the mercy of the managing agents both financially and when it comes to daily issues like the cleanliness of the communal areas. Ask other people if they are happy with them. In conclusion, investigate as to the dates that you are obliged pay the service charge to the managing agents and precisely what you get for your money. This information is helpful as a) areas may cause problems in the block as the common areas may begin to deteriorate if services remain unpaid b) if the leasehold owners have a dispute with the managing agents you will need to have all the details