We are due to exchange buying a property in Canning Town but as a consequence of wreckage from the recent storms I have managed to agree reparation from the current proprietors in the sum of £3k in the form of a adjustment in the price. I had intended this to be addressed as part of amending the contract however Kent Reliance are not allowing this. Why were they involved?
The conveyancer that is on the Kent Reliance conveyancing panel is obliged to inform Kent Reliance of any amendments to the purchase price. If you were to refuse your solicitor to notify the price change to Kent Reliance then they would have to discontinue acting for you. In addition, Kent Reliance and you would have to appoint a new property lawyer for your conveyancing in Canning Town.
My stepmother informed me that in purchasing a property in Canning Town there may be various restrictions affecting the ability to carry out external changes to the property. Is this right?
There are a number of properties in Canning Town which have some sort of restriction or requirement of consent to carry out external variations. Part of the conveyancing in Canning Town should determine what restrictions are applicable and advising you as part of a ROT that should be sent to you.
My conveyancer has informed me that defective lease insurance is needed on my purchase. What is the typical level of cover needed for conveyancing in Canning Town?
The appropriate level of defective lease indemnity insurance should be dictated by who your lender. It would differ for example between National Westminster Bank and Skipton Building Society. Conveyancing practitioners as opposed to members of the public take out such insurances.
We have agreed to purchase a house in Canning Town. A rare aspect is that the roof has a solar panel. Solicitors conducting should look into this right? Will my lender Bank of Ireland be concerned?
As you are obtaining a mortgage with Bank of Ireland your lawyer must comply with the formal requirements outlined in Part 2 of UK Finance Lenders’ Handbook for Bank of Ireland. The CML Handbook contains minimum specifications for solar panel roof-space leases, and solicitors are required to report to Bank of Ireland where a lease fails to meet these conditions. The conditions relate to the installation of panels on properties nationwide and is not restricted to Canning Town.
Should our lawyer be asking questions regarding flooding during the conveyancing in Canning Town.
The risk of flooding is if increasing concern for lawyers carrying out conveyancing in Canning Town. Some people will purchase a property in Canning Town, fully expectant that at some time, it may be flooded. However, aside from the physical destruction, if a house is at risk of flooding, it may be difficult to get a mortgage, suitable building insurance, or sell the property. There are steps that can be taken as part of the conveyancing process to forewarn the buyer.
Conveyancers are not best placed to impart advice on flood risk, but there are a number of searches that can be carried out by the buyer or on a buyer’s behalf which will give them a better understanding of the risks in Canning Town. The conventional set of completed inquiry forms given to a purchaser’s lawyer (where the solicitors are adopting what is known as the Conveyancing Protocol) incorporates a standard inquiry of the seller to determine if the premises has suffered from flooding. In the event that flooding has previously occurred which is not disclosed by the owner, then a buyer may bring a legal claim for losses as a result of such an inaccurate answer. A buyer’s solicitors may also conduct an enviro search. This should higlight if there is any known flood risk. If so, further inquiries will need to be conducted.
Are there restrictive covenants that are commonly picked up during conveyancing in Canning Town?
Covenants that are restrictive in nature can be picked up when reviewing land registry title as part of the process of conveyancing in Canning Town. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
Yesterday I discovered that there is a flying freehold issue on a house I put an offer in last month in what was supposed to be a straight forward, no chain conveyancing. Canning Town is the location of the property. What do you suggest?
Flying freeholds in Canning Town are unusual but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Canning Town you must be sure that your lawyer goes through the deeds thoroughly. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Canning Town may determine that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold premises.
I'm remortgaging my existing house to a BTL mortgage with Bank of Scotland and I will use the rest of the raised equity as a deposit on further house. The neighborhood we are talking about is Canning Town. Will your lawyers be able to act for both sets of lenders and link together the conveyances?
Make use of our search tool on this site to check that the conveyancers are on the relevant lender panels. Assuming that they are your lawyer will be able to simultaneously deal with the two transactions but you should have a chat with you conveyancer and make apparent your desired outcome and requirements.