Just been in touch with my conveyancing lawyer in Silvertown who conducted the legals two years ago requesting a conveyancing estimate based on the same type of house move (a leasehold residence and a freehold property) of almost identical values with a loan from National Westminster Bank. It looks as though am now being charged twice the amount. Should I hunt for an alternative firm of conveyancing solicitor?
The quote is slightly on the high side. If you are prepared to expend time comparing quotes you may be able to decrease the fees marginally by say £125. On the other hand, providing that you were happy with the assistance the firm gave you mightcome to regret opting for an an untested conveyancer. Remember to enquire the firm can represent National Westminster Bank. You can employ our search tool to find a Silvertown conveyancing firm on the National Westminster Bank member panel, which can often include conveyancing solicitors in Silvertown.
AssumingI were to purchase a simple residential housein Silvertown for cash and dispense with a survey and no conveyancing searches how much should I expect to to save on my conveyancing in Silvertown?
The sole saving you would achieve is the Silvertown conveyancing searches. A conveyancing practitioner is required to do the vast majority of work - money laundering, communicating with the vendors solicitor, stamp duty submission, register the property etc. A slight saving might be made by not needing to register a mortgage however it will not be meaningful.
About to purchase a new build apartment in Silvertown. Conveyancing is daunting 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 legal work.
Set out below is a sample of a selection of leasehold new build questions that you can expect your new-build leasehold conveyancing in Silvertown
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Investor purchasers must be able to freely grant unsecured tenancies at market rents without requiring any consents. Where service of notices and proceedings can be at the property demised please confirm that this can be amended to include simultaneous services at the Lessees’ solicitors’ offices where the Lessee from time to time is not resident in the UK - such solicitors may be varied by notice in writing to the Landlord from time to time but otherwise will be as previously specified. The Lease must contain a provision on behalf of the Vendor to pay the service charges in respect of unoccupied units in order to ensure that all services can be provided. Where there is an Undertaking being granted there is the risk of forfeiture of the Headlease subject to relief if one or more of the Underlessees are willing to accept the original Head Lessee’s obligations as otherwise relief will be denied to the Underlessees. The only alternatives are the Head Lessor agreeing not to forfeit the Headlease or the Head Lessee guaranteeing to the Underlessees that it will not be in breach of the Headlease.
How can the Landlord & Tenant Act 1954 affect my business premises in Silvertown and how can your lawyers assist?
The particular law that you refer to affords protection to commercial tenants, giving them the right to make a request to court for a renewal lease and remain in occupation when the lease comes to an end. There are limited grounds that a landlord can refuse a lease renewal and the rules are complicated. We are happy to direct you to commercial conveyancing solicitors who use the act to your advantage and handle your commercial conveyancing in Silvertown
We are 3 weeks into a leasehold purchase having been referred to conveyancers by the selling agent to do our conveyancing in Silvertown. I am am extremely frustrated with the level of service. Can you help me find new solicitors?
They would need to be very bad to suggest replacing them. Has your mortgage been sent? In the event that it has you must make them aware of the replacement conveyancer and get the loan are re-sent. The solicitor ideally needs to be on the lenders panel to avoid added charges and frustration. So that should be your first question of the new lawyers. Our search tool can assist you in finding a bank approved lawyer for your conveyancing in Silvertown
We own a leasehold flat in Silvertown. Conveyancing was completed in last year. I have heard that I should not let the the remaining lease term to get too low. Why is that a problem?
Silvertown domestic long term leases are for a set term - normally just under one hundred years when they started. However a significant appartments in Silvertown were built or converted 20 or more years ago and so these leases now have under 80 years unexpired. This may seem like a long time but Banks, Building Societies and other mortgage lenders on the whole need leases to have at least seventy five years remaining to be mortgageable. This means that when you come to sell the property you will need to extend the term of your lease if you are nearing seventy five years. To optimize the marketability of your property you should be thinking about whether to extend your lease long before you come to sell it. Furthermore significant benefits to doing so before the lease hits 80 years as when the lease is below eighty years the premium you have to pay to extend starts to escalate.