Have just purchased a probate house at auction in Isle of Dogs. Conveyancing is needed. What are my next steps?
Given that you are now to in every practical sense signed on the dotted line you will need to retain a conveyancing practitioner quickly as you are facing a pending deadline in which to complete the purchase. An auction property should have a bespoke auction pack. This will include the copy title deeds, local authority and drainage searches. In the case of leasehold property the auction papers may contain a copy of the lease, management information and a sellers leasehold information form and associated conveyancing documentation specific to a leasehold property. You need to give this to the lawyer working for you as soon as possible. Do make sure that your finances are organised to complete on the date specified in the contract.
I have a mortgage with Barclays for my property in Isle of Dogs. Conveyancing was finalised a year 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 BTL mortgage or inform Barclays?
Your original mortgage agreement with Barclays will provide that you need their approval prior to renting your property as this is likely to be a breach of Barclays’s mortgage conditions. It may be that Barclays 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 Barclays directly. It should not be necessary to do this via a Barclays conveyancing panel firm.
I am selling my flat. I had a double glazing fitted in March 2008, but did not receive a FENSA certificate or Building Regulation Certificate. My purchaser’s mortgage company, Virgin Money are being problematic. The Isle of Dogs solicitor who is on the Virgin Money conveyancing panel is recommending indemnity insurance as a solution but Virgin Money are insisting on a building regulation certificate. Why do Virgin Money have a conveyancing panel if they don't accept advice from them?
It is probably the case that Virgin Money have referred the matter to their valuer. The reason why Virgin Money may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing was correctly and safely installed. The indemnity insurance merely protects against enforcement action which is very unlikely anyway.
What can a local search reveal about the house my wife and I purchasing in Isle of Dogs?
Isle of Dogs conveyancing often starts with the applying for local authority searches directly from your local Authority or via a personal search organisations such as PSG The local search is essential in every Isle of Dogs conveyancing purchase; that is if you don’t want any nasty surprises after you move into your new home. The search should supply information on, amongst other things, details on planning applications applicable to the premises (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 subject headings.
The deeds to my property can not be found. The lawyers who conducted the conveyancing in Isle of Dogs 5 years ago no longer exist. What do I do?
These day there are copies made of almost everything, and your conveyancer should know precisely where to find all the appropriate paperwork so you can purchase or sell your property without any difficulty. If duplicates can’t be located, your lawyer may be able to arrange cover in the form of insurance or indemnities protecting you against possible claims on the premises.
Yesterday I discovered that there is a flying freehold issue on a house I put an offer in a fortnight ago in what should have been a quick, chain free conveyancing. Isle of Dogs is where the house is located. Can you offer any opinion?
Flying freeholds in Isle of Dogs are rare but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Isle of Dogs you must be sure that your lawyer goes through the deeds diligently. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Isle of Dogs may ascertain 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.
How does the Landlord & Tenant Act 1954 impact my business offices in Isle of Dogs and how can you help?
The 1954 Act affords protection to business lessees, giving them the a statutory right to apply to court for a new tenancy and continue in occupation when the lease comes to an end. There are limited grounds that a landlord can refrain from granting a lease renewal and the rules are complicated. Fees are different for commercial conveyancing. Isle of Dogs is one of our many locations in which our lawyers have offices
My son is just in the process of moving house, he had his mortgage in principle. One the seller agreed the offer on the apartment we rang the lender to progress the mortgage application. I was shocked to hear that mortgage companies do not accept all conveyancer, they have to be on a list, is this right?
Banks tend to imposes restrictions either the type or the number of conveyancing solicitors on their panel. Typical examples of such restriction(s) being that a firm must have two or more partners. In addition to restricting the type of firm, some have decided to limit the number of firms they use to represent them. You should note that lenders have no responsibility for the quality of advice provided by any Isle of Dogs solicitor on their panel. Mortgage fraud was a key driver in the rationalisation of conveyancing panels a few years ago and whilst there are differing views about the extent of solicitor involvement in some of that fraud. Statistics from the Land Registry reveal that thousands of law firms only carry out one or two conveyances a year. Those supporting conveyancing panel cuts ask why law firms should have the right to be on a Lender panel when clearly, conveyancing is not their speciality. To put it another way; would you want a conveyancing solicitor to represent you if you were charged with a crime? Presumably not.