Last June we completed a house move in Canary Wharf. We have since encountered a number of problems with the property which we consider were omitted in the conveyancing searches. What action can we take? Can you clarify the nature of searches that needed to have been ordered for conveyancing in Canary Wharf?
The question is vague as what problems have arisen and if they are unique to conveyancing in Canary Wharf. Conveyancing searches and due diligence initiated as part of the legal transfer of property are carried out to help avoid problems. As part of the process, a property owner fills in a form known as a SPIF. If the information is inaccurate, you could possibly take legal action against the vendor for any losses that you have suffered. The survey should have identified any problems with the structure of the property. Assuming a detailed survey was carried out and the issues were not identified, you may have a claim against the surveyor. However, if you did not have a full survey, you may be responsible for fixing any defects that have now been noted. We would always encourage buyers to take every possible step to ensure they are completely aware of the condition of a property before purchase regardless of whether they are buying in Canary Wharf.
Do conveyancers ask for money on account when it comes to conveyancing in Canary Wharf?
If you are buying a property in Canary Wharf your solicitor will ask you put them with monies to cover the search fees. This will be the total of the cost of the conveyancing searches. If any down payment is payable against the total price then this should be required shortly in advance of exchange of contracts. The final balance that is needed should be sent to your lawyer shortly before completion.
What is your number one tip for choosing a conveyancing solicitor in Canary Wharf
It would be unwise to be swayed by the lowest Canary Wharf conveyancing quote. You really do get what you’re paying for when it comes to conveyancing solicitors. A cheap quote may mean that the conveyancing solicitor is handling a lot of jobs at one time and you won’t get the quality of service and the attention that you need. It is, however, wise to use a conveyancer who has a fixed fee on a no sale, no fee basis. This way, you go into the conveyancing with your eyes wide open.
We are purchasing a 4 bedroom semi-detached house in Canary Wharf. The intention is to carry out an extension to the side at the house.Will the conveyancing process include investigations to see if these works are prohibited?
Your solicitor should check the registered title as conveyancing in Canary Wharf will sometimes identify restrictions in the title deeds which prohibit certain works or necessitated the consent of another owner. Some extensions require local authority planning consent and approval under the building regulations. Many locations are designated conservation areas and special planning restrictions apply which frequently prevent or affect extensions. It would be sensible to check these issues with a surveyor prior to committing yourself to a purchase.
We are getting the release of further monies on our mortgage from Nationwide as we wish to conduct improvements to our home in Canary Wharf. Do we need to select a high street Canary Wharf solicitor on the Nationwide conveyancing panel to handle the legals?
Nationwide would not normally require a member of their approved list of lawyers to deal with the formalities. If they do require any legal work then you would need to ensure that such a lawyer was on the Nationwide conveyancing panel.
The estate agent has sent us the confirmation of our purchase of a new build flat in Canary Wharf. Conveyancing is a frightening process at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build conveyancing.
Here is a sample of a selection of leasehold new build enquiries that you can expect your new-build leasehold conveyancing in Canary Wharf
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The Landlord must covenant to assume the management if the Management Company goes into liquidation or otherwise defaults in running the management scheme. Please supply evidence that the form of Lease proposed has been approved by the Land Registry. Will the freehold then be transferred for a nominal consideration (not exceeding £100) to the Management Company? 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. Please confirm the Lease plans are architect prepared.
All being well we will complete the disposal of our £375,000 garden flat in Canary Wharf next Wednesday. The freeholder has quoted £300 for Certificate of Compliance, building insurance schedule and 3 years service charge statements. Is the landlord entitled to charge such fees for a flat conveyance in Canary Wharf?
Canary Wharf conveyancing on leasehold maisonettes often requires the buyer’s conveyancer submitting questions for the landlord to address. Although the landlord is under no legal obligation to answer such questions most will be willing to assist. They are at liberty to charge a reasonable charge for answering questions or supplying documentation. There is no upper cap for such fees. The average fee for the paperwork that you are referring to is £350, in some transactions it exceeds £800. The management information fee levied by the landlord must be accompanied by a synopsis of rights and obligations in relation to administration charges, otherwise the charge is technically not due. Reality however dictates that one has little option but to pay whatever is requested of you if you want to exchange contracts with the buyer.
Following years of dialogue we simply can't agree with our landlord on how much the lease extension should cost for our flat in Canary Wharf. Does the Leasehold Valuation Tribunal have jurisdiction to calculate the appropriate figures?
Where there is a missing freeholder or if there is dispute about what the lease extension should cost, under the Leasehold Reform, Housing and Urban Development Act 1993 it is possible to make an application to the First-tier Tribunal (Property Chamber) to assess the sum to be paid.
An example of a Freehold Enfranchisement case for a Canary Wharf premises 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 affected 3 flats. The unexpired term as at the valuation date was 101.61 years.
What could I expect to pay for conveyancing in Canary Wharf?
The amount you are levied for Canary Wharf conveyancing fees are likely to be calculated at:
- a set cost; or
- on a time spent basis (i.e. the time spent on the particular case).
These days very few Canary Wharf conveyancing firms invoice on an hourly basis