Me and my husband are acquiring a leasehold flat in Limehouse. My property lawyer has never been on on the bank approved panel. Can I still appoint my Limehouse conveyancing solicitor even though they are not on the mortgage company list of approved lawyers?
Various options include
- Carry on with your existing Limehouse property lawyer but your bank will undoubtedly appoint a property lawyer from their conveyancing panel. The net result is additional fees together with likely frustration.
- Get a fresh property lawyer to act in the purchase, making sure they are on the lender conveyancing panel.
- Convince your lawyer to seek to join the lender panel
The owners have very brash vendors who has recommended a exclusivity contract with a non-refundable deposit 6,000. Is it wise to enter into such agreements?
There are two main concerns with signing a lock out contract (sometimes known as a no-shop agreement) is that it takes away the focus from progressing with the conveyancing transaction itself, so unless it requires minimal or no negotiation then it could transpire to be unhelpful. It is not strongly advocated amongst Limehouse conveyancing solicitors for this reason. The other main issue is the extent of the remedies available - a jilted buyer is very unlikely to be granted injunctive relief to stop the owner selling to a third party, so the only remedy available under the contract will be the recovery of wasted costs and, in rare scenarios, the extra payment of damages.
My uncle passed away 10 months ago and as sole heir and executor I was left the property in Limehouse. The house had a relatively small loan remaining of approximately £4500. I want to transfer the title deeds into my name whilst I re-mortgage to Clydesdale, pay off the mortgage. Is this allowed?
If you intend to refinance then Clydesdale will insist on your using a conveyancer on the Clydesdale conveyancing panel. Here is link to the Land Registry online guidance around what to do when a property owner dies. This will help you to understand the registration process behind changing the details re the registered title. in your case it would appear that you are effectively purchasing the property from the estate. Your Clydesdale conveyancing panel solicitor pays the new mortgage money into the estate, the estate pays off the old mortgage, the charge is released and you become the owner and the Clydesdale mortgage is registered as a charge at the Land Registry.
The deeds to our house can not be found. The solicitors who conducted the conveyancing in Limehouse 4 years ago are no longer around. What are my next steps?
Nowadays there are duplicates made of almost everything, and your lawyer will know exactly where to find all the suitable documentation so you may purchase or sell your house without any difficulty. If copies can’t be located, your solicitor may be able to put in place insurance or indemnities protecting you against possible claims on your property.
How does conveyancing in Limehouse differ for newly converted properties?
Most buyers of new build property in Limehouse approach us having been asked by the seller to exchange contracts and commit to the purchase even before the residence is completed. This is because builders in Limehouse usually acquire the site, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct property lawyers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are accustomed to new build conveyancing in Limehouse or who has acted in the same development.
What type of premises does your Limehouse conveyancing quotes apply to?
Our conveyancing quotes are only relevant to standard domestic premises in England & Wales. Where you have any different requirements such as industrial or agricultural land or commercial conveyancing in Limehouse do telephone us to consider this further .