We were just about to sign contracts for a freehold house in Canary Wharf. We have hit a snag. The mortgage offer with Leeds Building Society expires on 28/4/2026 but the sellers are insisting on a completion date of 30/4/2026. Can one prolong the loan expiry date?
The best person to deal with your issue is your lawyer who will hopefully calculate whether he or she is better off negotiating with the mortgage broker, vendor’s representatives, estate agents or indeed all parties based on the circumstances your conveyancing to date.
We are expecting a mortgage offer soon. The bank mentioned the home loan came with free conveyancing. Is the implication that I have to instruct their panel lawyer as I would prefer to appoint a Canary Wharf based conveyancing firm?
You should check but the chances are that allocate you one of their panel solicitors if you accept the "fee-free" offer. Speak to the mortgage company to explore if they offer you a cash alternative. It is not unheard for a lender to give a £250 cashback as an alternative in which case that money can go towards your preferred conveyancing solicitor near Canary Wharf.
Can you help - my lawyer advises that lack of right of way insurance is required on my purchase. What is the level of cover for Canary Wharf conveyancing?
The right level of lack of right of way indemnity insurance depends on your lender. It would differ for example between Accord Mortgages Ltd and The Mortgage Works. Conveyancing solicitors as opposed to borrowers take out such insurances.
My wife and I are in the process of looking at houses in Canary Wharf and I am about to put in an offer. Is it advisable to have a conveyancing practitioner on ‘stand by’? I intend to finance via a mortgage with UBS.
You should start obtaining conveyancing quotes from solicitors ASAP. Once you decide who you want to use and once your offer is accepted you can instruct them to work for you and forward their details on to the estate agent. Given that you are seeking a mortgage with UBS, make sure you remember to check that your lawyer is on the UBS conveyancing panel.
I currently have a mortgage with Nationwide for my property in Canary Wharf. Conveyancing was finalised months ago. If I am intending to rent out my property and do not currently have a buy-to-let mortgage do I need to remortgage to a buy-to-let mortgage or inform Nationwide?
You must advise Nationwide before renting your property as this is likely to be a breach of Nationwide’s mortgage conditions. In many cases banks or building societies will permit you to let 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 Nationwide directly. You need not do this via a Nationwide conveyancing panel lawyer.
3 months have gone by following my purchase conveyancing in Canary Wharf took place. I have checked the Land Registry site which shows that I paid £175,000 when infact I paid £180,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the property from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
How simple is it to swap firm as I need to retain a firm on the The Mortgage Works conveyancing panel. I was using a family conveyancing solicitor in Canary Wharf round the corner but he is not approved by The Mortgage Works
It would be our pleasure to assist you select a conveyancing solicitor in Canary Wharf on the The Mortgage Works panel. Please note that the law firms that we on the directory do not pay us fee if you instruct them and are under regulation of the SRA who oversee all conveyancing solicitors in Canary Wharf. In making use of search facility on this page, you can compare and instruct different solicitors and conveyancers both nationally and in Canary Wharf.
Frank (my husband) and I may need to let out our Canary Wharf 1st floor flat for a while due to a career opportunity. We instructed a Canary Wharf conveyancing firm in 2003 but they have closed and we did not think at the time seek any advice as to whether the lease prohibits the subletting of the flat. How do we find out?
The lease governs relations between the landlord and you the flat owner; in particular, it will set out if subletting is banned, or permitted but only subject to certain caveats. The rule is that if the lease contains no expres ban or restriction, subletting is allowed. The majority of leases in Canary Wharf do not prevent strict prohibition on subletting – such a provision would adversely affect the market value the property. In most cases there is a basic requirement that the owner notifies the freeholder, possibly supplying a copy of the tenancy agreement.
I have tried to negotiate informally with with my landlord for a lease extension without getting anywhere. Can one apply to the Leasehold Valuation Tribunal? Can you recommend a Canary Wharf conveyancing firm to assist?
if there is a absentee landlord or where there is disagreement 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 arrive at the price payable.
An example of a Freehold Enfranchisement matter before the tribunal for a Canary Wharf flat 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.