Just contacted my conveyancing solicitor in Silvertown who completed the legal work two years ago asking for a conveyancing estimate based on the same type of home move (a leasehold property and a freehold property) of almost identical values with a home loan from Lloyds TSB Bank. I am now being charged double. Should I look for a cheaper online property lawyer?
The costs illustration is fractionally on the high side. If you shop around you may be able to get the conveyancing a bit cheaper by as much as £125. That being said, if you were content with the assistance the firm provided you couldlive to regret choosing an an untested lawyer. Don't forget to be sure the solicitor can act for Lloyds TSB Bank. You can employ our search tool to select a Silvertown conveyancing firm on the Lloyds TSB Bank approved list of lawyers, which can often include conveyancing solicitors in Silvertown.
We are a couple about to exchange contracts for a freehold house in Silvertown. We encountered a problem. Our mortgage offer with Bank of Ireland expires on 10/6/2024 but the vendors are insisting on a completion date of 12/6/2024. Can one prolong the loan offer?
The person best placed to deal with your issue is your solicitors who will determine whether he or she is better off negotiating with the mortgage company, owner’s representatives, estate agents or possibly all parties given the circumstances your house move to date.
My friend suggested that if I am purchasing in Silvertown I should carry out a Neighbourhood, Planning and Local Amenity Search. What does it cover?
A search of this type is usually included in the estimate for your Silvertown conveyancing searches. It is a large document of more than thirty pages, listing and detailing important information about Silvertown around the property and the people living there. It incorporates an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the Silvertown Housing Market, Council Tax Banding, the demographics of People living in the area, the dominant type of Housing, the Average House Prices, Crime statistics, Silvertown Education with plans and statistics, Local Amenities and other useful data about Silvertown.
How does conveyancing in Silvertown differ for newly converted properties?
Most buyers of new build premises in Silvertown contact us having been asked by the developer to sign contracts and commit to the purchase even before the premises is ready to move into. This is because house builders in Silvertown typically acquire the real estate, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are accustomed to new build conveyancing in Silvertown or who has acted in the same development.
Given that I am about to spend £400,000 on 3 bedroom house in Silvertown I wish to have a conversation with the conveyancer about myhouse move before appointing the firm. Can this be arranged?
We could not agree more - we would be pleased to talk to you we do not take any clients on without you first talking to the solicitor due to be carrying out your conveyancing in Silvertown.There is no ‘factory style conveyancing’ - every client is an important individual, not a case number. The law firms that we put you in touch with believe that the figure you are provided with for residential conveyancing in Silvertown should be the amount on the final invoice that you are charged.
I am tempted by the attractive purchase price for a couple of flats in Silvertown which have approximately fifty years left on the leases. Will this present a problem?
There is no doubt about it. A leasehold flat in Silvertown 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 salability of the premises. The majority of buyers and mortgage companies, leases with under 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 property 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 property 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 Silvertown 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. You may find he or she is happy to negotiate informally and willing to consider your offer straight off, without having to involve anyone else. This will save you time and money and it could help you reach a lower price on the lease. You need to ensure that any new 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.
My wife and I have hit a brick wall in negotiating a lease extension in Silvertown. Can the Leasehold Valuation Tribunal adjudicate on premiums?
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 case for a Silvertown property 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 affected 1 flat. The unexpired term was 69.77 years.