I have an AIP. The lender mentioned the loan came with free conveyancing. Is the implication that I have to appoint their panel lawyer as I would prefer to use a specialised conveyancing solicitor in Canary Wharf?
You should check but the the probability is that allocate you one of their panel solicitors should you take up the "fee-free" deal. Call the lender and see if they make available a monetary alternative. It is not unheard for a lender to give a £250 cashback as a further option in which case that money can go towards your preferred conveyancing solicitor near Canary Wharf.
My uncle informed me that in purchasing a property in Canary Wharf there may be a number of restrictions prohibiting external alterations to the property. Is this right?
There are a number of properties in Canary Wharf which have some sort of restriction or requirement of consent to execute external variations. Part of the conveyancing in Canary Wharf should determine what restrictions are applicable and advising you as part of a ROT that should be sent to you.
We had instructed solicitors based in Canary Wharf on the Leeds Building Society solicitor approved list. They have just invoiced me an additional amount for the legal aspects of the Leeds Building Society mortgage. Is this an additional conveyancing fee set by Leeds Building Society?
As unfair as it may seem, as long as it’s in their Terms and Conditions or Quote then yes your solicitor can charge a fee for this. The fee is not set by Leeds Building Society but by your Canary Wharf conveyancing practitioner. Numerous firms on the Leeds Building Society panel will charge ’dealing with mortgage’ fee but many practices incorporate it on their overall fee.
The mortgage over my property is with TSB for my property in Canary Wharf. Conveyancing was finalised a year ago. Should I wish to rent out the flat and do not currently have a buy-to-let mortgage do I need to remortgage to a buy-to-let mortgage or inform TSB?
You must advise TSB before letting out your property as this is likely to be a breach of TSB’s mortgage conditions. In many cases banks or building societies will allow you to rent out your former home without needing to switch to a buy-to-let mortgage but some lenders will add a surcharge to your mortgage rate to reflect the higher risk. You should contact TSB directly. It should not be necessary to do this via a TSB conveyancing panel solicitor.
What will a local search tell me regarding the house I am buying in Canary Wharf?
Canary Wharf conveyancing often starts with the ordering local authority searches directly from your local Authority or through a personal search company for instance Searches UK The local search is essential in every Canary Wharf conveyancing purchase; that is if you wish to avoid any unpleasant once you have moved into your property. The search will supply data on, amongst other things, details on planning applications relevant to the property (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 thirteen topic areas.
I used Action Conveyancing a few years past for my conveyancing in Canary Wharf. I now require my file but the law firm is no longer operating. What do I do?
Do call the Solicitors Regulatory Authority (SRA) to assist in tracing your conveyancing files. They can be contacted on please contact on 0870 606 2555. Alternatively, you should use their online form to make an enquiry. You will need to provide the SRA with as much information as possible to assist their search, including the name and address in Canary Wharf of the conveyancing firm of solicitors you previously retained, the name of conveyancing solicitor with whom you had dealings, and the date on which you last had dealings with the firm.
I've recently bought a leasehold property in Canary Wharf. Am I liable to pay service charges for periods before completion of my purchase?
In a situation where the service charge has already been demanded from the previous lessee and they have not paid you would not usually be personally liable for the arrears. Strange as it may seem, your landlord may still be able to take action to forfeit the lease. It is an essential part of leasehold conveyancing for your conveyancer to be sure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.
If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).
We have reached the end of our tether in seeking a lease extension in Canary Wharf. Can this matter be resolved via the Leasehold Valuation Tribunal?
in cases where there is a missing freeholder or where there is disagreement about the premium for a lease extension, under the relevant legislation it is possible to make an application to the Leasehold Valuation Tribunal to determine the sum to be paid.
An example of a Freehold Enfranchisement decision for a Canary Wharf property is 12, 14 & 16 Hull Close in May 2010. the Tribunal determined that the premium payable for the acquisition of the freehold to the subject premises was the sum of £18,300 This case related to 3 flats. The unexpired residue of the current lease was 101.61 years.
My wife and I have today had an offer accepted on our first house in Canary Wharf, and are about to get solicitors lined up. I have made use of the different comparison tools and the results are from all across the the UK. Is it essential to have a Canary Wharf solicitor local to our potential house? We are willing to do all the communicating electronically, but I am thinking at some point we may be required to physically go into the property lawyer's office to sign contracts?
The lawyer does not need to be in Canary Wharf, but choosing local means that you can attend their offices if required, by way of example, if a signature is immediately necessary. Also, a Canary Wharf solicitor have established relationships with local agents and (if the vendor has chosen a local property lawyer) with them, which will help smooth the process.