When does exchange of contracts happen for sale conveyancing in Chinatown and am I required to be at the lawyers office?
Where you are local to one of the conveyancing solicitors in Chinatown you are welcome to attend to sign the paperwork. That being said, the lender approved solicitors we recommend provide a countrywide conveyancing service and give just as detailed and professional a job for you when communicating with you digitally. The executing of the purchase agreement is not the point of no return. A signed contract simply enables the solicitor to exchange contracts when the time is right, which is ordinarily shortly after signing. The exchange process is is usually a five minute process, although where a lengthy "chain" is involved, since the process requires the relevant party's solicitor (not necessarily a conveyancing solicitor in Chinatown)to be in the office available at the end of the phone to exchange contracts.
When it comes to lenders such as Bank of Ireland, do Chinatown conveyancers face a fee to be on the conveyancing panel?
We are unaware of any lender fees to register on their list of approved firms, although some do charge an administration charge to deal with the processing of the conveyancing panel submission.
My wife and I are spending time looking at apartments in Chinatown and I am about to put in an offer. Is it best to have my property lawyer on ‘stand by’? I am planning to take a home loan with TSB.
It would be sensible to commence your search sooner rather than later. After you have chosen your lawyer and once your offer is accepted you can instruct them to work for you and forward their details on to the EA. As you are getting a mortgage with TSB, ask your prospective lawyers if they are on the TSB conveyancing panel otherwise they can't do the mortgage legal work.
My sealed bid on a property in Chinatown has been accepted, the sellers do however have a tied purchase. The owners have placed an offer on a flat, however it’s not yet agreed to, and have viewings of other properties in the pipeline. I have selected a bricks and mortar conveyancing solicitor in Chinatown. What should be my next step? At what point should I apply for the mortgage with Kent Reliance?
It is usual to have apprehensions where there is a chain as you are unlikely to want to be too out of pocket prematurely (home loan application is in the region of one thousand pounds, then survey, Chinatown conveyancing search costs, etc). The first thing to do is check that your conveyancing practitioner is on the Kent Reliance conveyancing panel. As to the subsequent steps this very much dictated by the specifics of your case, desire for the property and on the state of the market. In a rising market the majority of purchasers will apply for a home loan with Kent Reliance and pay for the valuation and only if it was satisfactory would they pay their solicitor to move forward with searches.
I used Wolstenholmes several years ago for my conveyancing in Chinatown. Now, I need my files however cannot find the solicitor. What do I do?
Do contact the Solicitors Regulatory Authority (SRA) to help locate 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 Chinatown 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'm buying a new build house in Chinatown benefiting from help to buy. The builders refused to budge the amount so I negotiated five thousand pounds worth of extras instead. The property agent advised me not inform my solicitor about this deal as it could impact my mortgage with the lender. Do I keep my lawyer in the dark?.
All lenders require a Disclosure of Incentives Form from the builder of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
If all goes to plan we aim to complete the disposal of our £450,000 apartment in Chinatown on Wednesday in a week. The freeholder has quoted £360 for Landlord’s certificate, building insurance schedule and previous years statements of service charge. Is it legal for a freeholder to charge such fees for a leasehold conveyance in Chinatown?
For the majority of leasehold sales in Chinatown conveyancing will involve, queries regarding the management of a building inevitably needing to be answered directly by the freeholder or its agent, this includes :
Answering pre-contract enquiries
Where consent is required before sale in Chinatown
Copies of the building insurance and schedule
Deeds of covenant upon sale
Registering of the assignment of the change of lessee after a sale
I own a ground-floor 1950’s flat in Chinatown. Given that I can not reach agreement with the landlord, can the Leasehold valuation Tribunal make a decision on the amount payable for a lease extension?
Where there is a missing freeholder or if there is dispute about the premium for a lease extension, under the Leasehold Reform, Housing and Urban Development Act 1993 it is possible to make an application to the LVT to arrive at the price payable.
An example of a Freehold Enfranchisement case for a Chinatown flat is 36 New Wanstead in August 2010. The Tribunal arrived at a valuation of the premium for the freehold of £22,359. This case was in relation to 2 flats. The unexpired residue of the current lease was 73.92 years.
I am an executor of my recently deceased parent's Will, with a house in Chinatown which is to be sold. The bungalow has never been registered at the Land Registry and I'm told that many purchasers will insist that it is done before they will proceed. What's the mechanism for this?
In the circumstances you refer to it seems advisable to apply to register in the names of the personal representative(s) as named in the probate and in their capacity as PRs. The Land Registry’s online guidance explains how to register for the first time and what is required re the deeds and forms. You would need to include and official copy of the probate as well and complete the form FR1 to refer to the PRs as the applicant.