I am purchasing my first flat in Silvertown with a mortgage from Virgin Money. The builders refused to move on the amount so I negotiated £7000 of extras instead. The house builders rep told me not inform my lawyer about the deal as it will adversely affect my loan with Virgin Money. Do I keep my lawyer in the dark?.
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.
Are there any apps to help search for a Silvertown law firm on the Godiva Mortgages Ltd conveyancing panel? I drive a motor bike and am prepared to travel upto 25miles to meet the conveyancer.
You can use the search on this website. Please pick a lender and your location and you will see a number of Silvertown conveyancing lawyers locally. We have listed some Silvertown conveyancing firms towards the end of this page and you can ring them to check if they are on the Godiva Mortgages Ltd panel
My husband and I are new on the property ladder - had an offer accepted, but the estate agent has warned us that the vendor will only go ahead if we use their chosen lawyers as they are insisting on an ‘expedited deal’. We would rather use a family conveyancer used to conveyancing in Silvertown
We suspect that the seller is unaware of this demand. If they want ‘a quick sale', taking such a hostile approach to a motivated purchaser is is going to put the whole deal at risk. Bypass the agents and go straight to the owners and make sure they comprehend that (a)you are keen to buy (b)you are ready to go, with mortgage lined up © you have nothing to sell (d) you wish to move quickly (e)however you intend to instruct your own,trusted Silvertown conveyancing solicitors - not the ones that will earn their negotiator at the agency a commission or achieve conveyancing targets demanded by HQ.
Can you provide any top tips for leasehold conveyancing in Silvertown from the perspective of saving time on the sale process?
- A significant proportion of the frustration in leasehold conveyancing in Silvertown can be avoided where you get in touch lawyers the minute you market your property and ask them to put together the leasehold information needed by the purchasers’ solicitors. If you are supposed to have a share in the Management Company, you should make sure that you have the original share certificate. Arranging a replacement share certificate is often a lengthy process and delays many a Silvertown conveyancing deal. If a reissued share is necessary, do contact the company officers or managing agents (where relevant) for this as soon as possible. Some Silvertown leases require Landlord’s consent to the sale and approval of the buyers. If this applies to your lease, it would be prudent to notify your estate agents to make sure that the purchasers obtain bank and professional references. Any bank reference should make it clear that the buyer is financially capable of paying the yearly service charge and the actual amount of the service charge should be quoted in the bank’s letter. You will therefore need to provide your estate agents with the actual amount of the service charge so that they can pass this information on to the buyers or their lawyers. If you have carried out any alterations to the property would they have required Landlord’s consent? In particular have you laid down wooden flooring? Silvertown leases often stipulate that internal structural alterations or addition of wooden flooring require a licence from the Landlord acquiescing to such alterations. If you fail to have the paperwork to hand do not contact the landlord without checking with your lawyer in the first instance. You believe that you know the number of years remaining on your lease but you should verify this by asking your conveyancers. A buyer’s conveyancer will not be happy to advise their client to to exchange contracts if the lease term is below 75 years. In the circumstances it is essential at an as soon as possible that you identify whether the lease for your property needs extending. If it does, contact your solicitors before you put your property on the market for sale.
I have attempted and failed to negotiate with my landlord for a lease extension without getting anywhere. Can the Leasehold Valuation Tribunal decide on such issues? Can you recommend a Silvertown conveyancing firm to act on my behalf?
if there is a absentee landlord or if there is dispute about what the lease extension should cost, under the relevant legislation it is possible to make an application to the LVT to judgment on the premium.
An example of a Lease Extension case 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 related to 1 flat. The number of years remaining on the existing lease(s) was 69.77 years.
Me and my wife are FTB’s just having agreed a price on a property in Silvertown, and need to get solicitors appointed. I have used the different comparison tools and the quotes are from all across the country. Is it necessary to have a Silvertown solicitor local to the prospective new home? I am willing to do everything electronically, but I guess at some stage we will need to attend the conveyancer's office to sign documents?
There is no requirement to physically visit the office of your conveyancer, they can post any relevant documents to you, which you can sign and send back. Many home movers choose to use a locally based solicitor, but it's by no means essential for conveyancing in Silvertown.