It is is a decade since I bought my home in Silvertown. Conveyancing lawyers have just been appointed on the sale but I can't track down my title deeds. Is this a problem?
Don’t worry too much. First there is a chance that the deeds will be retained by the mortgage company or they could be in the possession of the conveyancers who acted in the purchase. Secondly the likelihood is that the land will be recorded at the land registry and you will be able to prove you are the registered owner by your conveyancing lawyers acquiring up to date copy of the land registers. Almost all conveyancing in Silvertown relates to registered property but in the unlikely event that your home is unregistered it is more problematic but is not insurmountable.
We are expecting a mortgage offer soon. The lender mentioned the home loan came with free conveyancing. Is the implication that I have to use their panel lawyer as I would much rather appoint a Silvertown based conveyancing firm?
You should check but the the probability is that appoint one of their panel solicitors where you take up the "fee-free" deal. Call the lender to check if they offer you a cash alternative. It is not unheard for a lender to give a £250 cashback as an alternative in which case that money can go towards your preferred conveyancing solicitor near Silvertown.
I'm buying a new build house in Silvertown benefiting from help to buy. The builders refused to move on the amount so I negotiated five thousand pounds worth of extras instead. The sale representative told me not reveal to my conveyancer about this deal as it would affect my mortgage with the lender. Should I keep quiet?.
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 have been on the look out for a leasehold apartment up to £305k and found one close by in Silvertown I like with amenity areas and transport links in the vicinity, the downside is that it's only got 52 remaining years left on the lease. There is not much else in Silvertown suitable, so just wondered if I would be making a grave error purchasing a lease with such few years left?
If you require a home loan the remaining unexpired lease term will likely be a potential deal breaker. Reduce the price by the amount the lease extension will cost if it has not already been discounted. If the existing proprietor has owned the property for a minimum of 2 years you can ask them to start the process of the extension and pass it to you. You can add 90 years to the existing lease term with a zero ground rent applied. You should speak to your conveyancing solicitor concerning this matter.
I today plan to offer on a house that seems to meet my requirements, at a great figure which is making it more attractive. I have just discovered that the title is leasehold as opposed to freehold. I would have thought that there are particular concerns buying a leasehold house in Silvertown. Conveyancing solicitors have are about to be appointed. Will my lawyers set out the implications of buying a leasehold house in Silvertown ?
The majority of houses in Silvertown are freehold and not leasehold. This is one of the situations where having a local conveyancer used to dealing with such properties who can assist with the conveyancing process. We note that you are buying in Silvertown in which case you should be looking for a Silvertown conveyancing solicitor and be sure that they are used to dealing with leasehold houses. First you will need to check the unexpired lease term. Being a lessee you will not be entirely free to do whatever you want to the property. The lease will likely included provisions such as requiring the landlord’sconsent to conduct alterations. It may be necessary to pay a contribution towards the maintenance of the communal areas where the house is located on an estate. Your lawyer will advise you fully on all the issues.
I have attempted and failed to negotiate with my landlord for a lease extension without success. Can the Leasehold Valuation Tribunal adjudicate on such matters? Can you recommend a Silvertown conveyancing firm to assist?
You certainly can. We are happy to put you in touch with a Silvertown conveyancing firm who can help.
An example of a Lease Extension decision for a Silvertown flat is 46 Credon Road in January 2014. On 11 September 2013 Deputy District Judge Price sitting at the Bow County Court made a vesting order that the freeholder surrender his lease and be granted a new lease of the Premises on such terms as may be determined by the First Tier Tribunal (Property Chamber).The appropriate sum as concluded by the Tribunal was £7225 This case was in relation to 1 flat. The unexpired lease term was 69.77 years.
We are FTB’s just having agreed a price on a property in Silvertown, and are about to get solicitors lined up. We have made use of the various rating based websites and the quotes are from all across the country. Is it essential to have a Silvertown conveyancing practitioner local to your prospective property? We are content to do all the communicating over the internet, but I assume at some stage we may be required to physically go into the solicitor's office to sign contracts?
There is no requirement to attend the office of your solicitor, they can post any relevant contracts to you, which you can sign and return. Many buyers and sellers prefer to instruct a locally based solicitor, but it's by no means essential for conveyancing in Silvertown.