I plan on acquiring property in Silverstone. My lawyer is not listed on the lender conveyancing list. Am I still permitted to appoint my Silverstone conveyancing solicitor notwithstanding that they are excluded from the bank panel?

You must instruct a property lawyer to complete the legal work required if you require a loan to purchase your property. The property lawyer will carry out all the essential legal checks on the property, make sure that you’re properly registered as the owner and ensure that all the required mortgage paperwork is in order. You may appoint a Silverstone conveyancer of your choice. Nevertheless, if the property lawyer selected is not a member of the bank conveyancing panel supplemental costs will be incurred as separate legal representation will be need by the bank. Lender panel applications may be submitted, so provided your conveyancer has not previously applied for membership they can do so.

We are about to complete on the purchase of a property in Silverstone but as a result of wreckage from a small fire at the property I have managed to agree reparation from the vendor of £2k by way of a adjustment in the price. This was going to be addressed as part of the conveyancing process however Barclays are not allowing this. Should they have been notified?

Your lawyer that is on a Barclays approved list is required to disclose to Barclays of any variations to the sale price. If you prohibit your solicitor to disclose the reduction to Barclays then they would have to discontinue acting for you. In addition, Barclays and you would have to appoint a new property lawyer for your conveyancing in Silverstone.

What does a local search tell me about the property I am purchasing in Silverstone?

Silverstone conveyancing often commences with the submitting local authority searches directly from your local Authority or via a personal search organisations for example Onsearch The local search is essential in every Silverstone conveyancing purchase; as long as you wish to avoid any unpleasant surprises after you move into your new home. The search should supply data on, amongst other things, details on planning applications applicable to the premises (whether granted or refused), building control history, any enforcement action, restrictions on permitted development, nearby road schemes, contaminated land and radon gas; in all a total of 13 subject sections.

The estate agent has sent us the confirmation of our purchase of a new build flat in Silverstone. 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 conveyancing.

Here is a sample of a few leasehold new build questions that you may expect your new-build leasehold conveyancing in Silverstone

Investor purchasers must be able to freely grant unsecured tenancies at market rents without requiring any consents. 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. Please supply 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. If there are lifts in the building, please confirm that the owners of flats on the ground and basement floors will not be required to contribute towards the cost of maintenance and renewal.

I am looking for a ground for flat up to £245,000 and found one round the corner in Silverstone I like with amenity areas and station in the vicinity, the downside is that it's only got 52 years on the lease. I can't really find anything else in Silverstone in this price bracket, so just wondered if I would be making a grave error buying a lease with such few years left?

Should you need a mortgage the shortness of the lease may be an issue. Discount the price by the expected lease extension will cost if it has not already been discounted. If the current owner has owned the property for a minimum of twenty four months you may ask them to commence the lease extension formalities and pass it to you. You can add 90 years to the existing lease and have £0 ground rent by law. You should speak to your conveyancing solicitor concerning this matter.