My solicitor has discovered a a legal deficiency with the lease for the apartment we are purchasing in Silvertown. The other side have suggested defective title insurance as a solution. We are happy with insurance and will pay for it. Our lawyer has advised that he must be satisfied that the bank is willing to move forward with this solution. Who is the client here, us or the mortgage company ?
The short answer to your last question is that, notwithstanding the potential for a conflict of interest, you and the lender are the client. Your conveyancing practitioner must comply with the UK Finance Lenders’ Handbook provisions. The UK Finance Lenders’ Handbook conditions require your lawyer to disclose issues such as defects with the lease so that the bank can be afforded the opportunity to check with their valuer as to the extent that the value of the property is affected. Should you refuse to allow your lawyer to make the appropriate notification then your solicitor will have no choice but to discontinue acting for you.
I am expecting a DIP from Leeds Building Society this week so we know how much we could potentially offer as otherwise we are dependent on web based calculators (which aren't taking into account credit checks etc). Do Leeds Building Society recommend any Silvertown solicitors on the Leeds Building Society conveyancing panel, or is it better to find our own lawyer?
You will need to appoint Silvertown solicitors independently although you'll need to choose one on the Leeds Building Society conveyancing panel. The solicitor represents both you and Leeds Building Society through the process.
It is not clear whether my mortgage offer obliges me to make sure the lease term for the flat is extended prior to the completion date. I have called my Silvertown bank branch on a couple of occasions and was informed it wasn't an issue and they will lend. My Silvertown conveyancing solicitor - who is on the mortgage company conveyancing panel- telephoned and was told they refuse to lend in accordance with their UK Finance Lenders’ Handbook minimum lease term requirements. I have no idea who is right.
Your conveyancer must follow the CML Handbook Part 2 conditions for your bank. Unless your lawyer obtains specific confirmation in writing that the mortgage company will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the mortgage company to contact your lawyer in writing confirming that they will accept the number of years left on the lease.
After much negotiation I have agreed a price on a house in Silvertown. My mortgage broker pressured me to appoint their lawyer. I paid an upfront payment of £200. Shortly after, the lawyer contacted me sheepishly admitting that they were not on the RBS conveyancing panel. Am I right in thinking that I should be due a refund?
You should be able to recover this from the law firm if they were not on the RBS panel. They should have asked at the outset which lender you were obtaining a mortgage with. An important lesson to readers of this site is to check that the lawyers are on the appropriate lender panel.
I have been told that property searches are the main reason for delay in Silvertown conveyancing transactions. Is there any truth in this?
The Council of Property Search Organisations (CoPSO) published conclusions of a review by MoveWithUs that conveyancing searches do not feature within the common causes of delays in the conveyancing process. Local searches are not likely to feature in any delay in conveyancing in Silvertown.
What makes your site different to alternative web based conveyancing brokers for conveyancing in Silvertown?
At this site secure an accurate costs illustration via a Solicitor or Licensed Conveyancer that appreciates the nuances for your conveyancing in Silvertown. Unlike many estate agents and many comparison sites we do not have referral arrangements with solicitors. Many agents and online brokers 'recommend' the firm paying the highest commission, rather than the best value conveyancing in Silvertown
I need to instruct a conveyancing practitioner in Silvertown for my home move. Is it possible to review a firm’s record with the profession’s regulator?
Members of the public can read documented Solicitor Regulator Association (SRA) determinations arising from inquisitions started on or after 1 January 2008. Go to Check a solicitor's record. For information Pre 2008, or to check a solicitors record, telephone 0870 606 2555, 08.00 - 18.00 any week day save for Tuesday when lines open at 9.30am. For callers outside the UK, call +44 (0)121 329 6800. The SRA could monitor telephone calls for training reasons.
I today plan to offer on a house that appears to be perfect, at a great figure which is making it more attractive. I have just discovered that the title is leasehold rather than freehold. I would have thought that there are issues purchasing a house with a leasehold title in Silvertown. Conveyancing lawyers have are about to be appointed. Will they explain the issues?
The majority of houses in Silvertown are freehold and not leasehold. This is one of the situations where having a local solicitor used to dealing with such properties who can help the conveyancing process. it is apparent that you are purchasing in Silvertown in which case you should be looking for a Silvertown conveyancing solicitor and be sure that they are used to transacting on leasehold houses. As a matter of priority you will need to check the number of years remaining. As a leaseholder you will not be at liberty to do whatever you want with the house. The lease comes with conditions for example obtaining the landlord’sconsent to carry out changes to the property. You may also be required to pay a contribution towards the upkeep of the communal areas where the house is located on an estate. Your lawyer should appraise you on the various issues.
After years of dialogue we simply can't agree with our landlord on how much the lease extension should cost for our flat in Silvertown. Can we issue an application to the Residential Property Tribunal Service?
You certainly can. We can put you in touch with a Silvertown conveyancing firm who can help.
An example of a Lease Extension case 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 related to 1 flat. The unexpired residue of the current lease was 69.77 years.