Am I correct in assuming that the fact that my conveyancer in Silvertown is not listed on my bank's solicitor panel that there is a problem with the standard of his work?
It would be unwise to jump to that conclusion. There are all sorts of perfectly plausible explanations. Just recently a report by the solicitors regulator revealed 76% of law firms surveyed had been removed from at least one lender panel. The top 5 reasons are as follows: (1) lack of transactions (2) the solicitor 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 simply call the Silvertown conveyancing firm and enquire why they are no longer on the approved list for your lender.
In the event thatI were to purchase a freehold homein Silvertown mortgage fee and dispense with a survey and no local authority searches how much would I expect to to save on my conveyancing in Silvertown?
The only saving you would make on is the Silvertown conveyancing searches. The conveyancing practitioner still got to do everything else - money laundering, correspond with your sellers property lawyer, stamp duty submission, register the ownership etc. You might save a bit for them not needing to register a charge but it will not be meaningful.
My wife and I have recently appointed a conveyancing solicitor in Silvertown. I I am struggling to find out whether they are on the Bank of Scotland approved list of lawyers. Could you or the lender confirm if they are on the panel?
You should e-mail your solicitor and enquire whether they are on the lender panel. Otherwise you should call Bank of Scotland who may be able to assist.
About to purchase a new build flat in Silvertown. Conveyancing is necessary evil at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build conveyancing.
Set out below is a sample of a selection of leasehold new build enquiries that you can expect your new-build leasehold conveyancing in Silvertown
Please provide evidence that the form of Lease proposed has been approved by the Land Registry. The Landlord must covenant to assume the management if the Management Company goes into liquidation or otherwise defaults in running the management scheme. Will the freehold then be transferred for a nominal consideration (not exceeding £100) to the Management Company? The Vendor must covenant to keep unoccupied units in good repair until long leases are granted therefore.
I have been on the look out for a ground for flat up to £235,500 and found one round the corner in Silvertown I like with open areas and station in the vicinity, however it's only got 52 remaining years left on the lease. I can't really find anything else in Silvertown for this price, so just wondered if I would be making a mistake buying a lease with such few years left?
If you require a home loan that many years may be problematic. Reduce the price by the amount the lease extension will cost if it has not already been discounted. If the current owner has owned the premises for a minimum of twenty four months you may request that they start the process of the extension and pass it to you. You can add 90 years to the existing lease with a zero ground rent applied. You should consult your conveyancing solicitor regarding this.
I own a leasehold flat in Silvertown. Conveyancing and Bank of Ireland mortgage went though with no issue. I have received a letter from someone saying they have taken over the reversionary interest in the property. It included a ground rent demand for rent dating back to 1993. The conveyancing solicitor in Silvertown who acted for me is not around. What should I do?
The first thing you should do is contact the Land Registry to be sure that this person is indeed the new freeholder. It is not necessary to incur the fees of a Silvertown conveyancing firm to do this as you can do this on the Land Registry website for £3. You should note 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 proprietor of a ground floor flat in Silvertown. In the absence of agreement between myself and the freeholder, can the Leasehold valuation Tribunal determine the amount payable for the purchase of the freehold?
Where there is a missing landlord or where there is disagreement about the premium for a lease extension, under the relevant statutes it is possible to make an application to the First-tier Tribunal (Property Chamber) to calculate the price.
An example of a Lease Extension decision for a Silvertown residence 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 number of years remaining on the existing lease(s) was 69.77 years.