We see that you have a search directory identifying solicitors on the Principality conveyancing panel. Do firms pay you a referral fee if I instruct them for our conveyancing in Silvertown?
We are a listing service only for law firms wishing to communicate if they are on the Principality conveyancing panel or other lender panels. We do not charge referral fees to any conveyancer that you subsequently appoint for your conveyancing in Silvertown.
My husband and I are buying a newly converted flat in Silvertown with a homeloan from Accord Mortgages Ltd.We like our Silvertown conveyancing practitioner but Accord Mortgages Ltd informed us his firm is not on their approved list of firms. It seems we have no choice but to instruct a Accord Mortgages Ltd panel lawyer or keep our preferred solicitor and fork out for a Accord Mortgages Ltd panel lawyer to act for them. We feel as though this is unjust; is there anything we can do?
Unfortunately,no. The loan issued to you is subject to its terms and conditions, a common one being that solicitors must be on the Accord Mortgages Ltd approved list. Until recently, most mortgage companies had large numbers of law firms on their panels: a borrower could find one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. A further alternative is for your lawyer to apply to be on the conveyancing panel for Accord Mortgages Ltd
A friend advised me that where I am purchasing in Silvertown I should carry out a Neighbourhood, Planning and Local Amenity Search. What does it cover?
This is a search is occasionally included in the estimate for your Silvertown conveyancing searches. It is a large document of more than thirty pages, listing and setting out important information about Silvertown around the property and the people living there. It includes an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the local Housing Market, Council Tax Banding, the type of People living in the area, the dominant type of Housing, the Average Property Price, Crime details, Local Education with maps and statistics, Local Amenities and other useful information concerning Silvertown.
How does conveyancing in Silvertown differ for newly converted properties?
Most buyers of new build residence in Silvertown come to us having been asked by the builder to sign contracts and commit to the purchase even before the house is constructed. This is because developers in Silvertown usually buy the land, 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 conveyancing solicitors 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.
Over the last few months I have been searching for a ground for flat up to £245,000 and found one close by in Silvertown I like with open areas and station in the vicinity, however it only has 51 years unexpired on the lease. There is not much else in Silvertown suitable, so just wondered if I would be making a mistake purchasing a short lease?
Should you require a mortgage the shortness of the lease will be problematic. Reduce the offer by the anticipated lease extension will cost if it has not already been discounted. If the current proprietor has owned the premises for at least twenty four months you may ask them to start the process of the extension and then assign it to you. An additional ninety years can be extended on to the current lease term with a zero ground rent applied. You should speak to your conveyancing lawyer about this matter.