It has come to my attention via my mortgage broker that my Victoria Docks solicitor is not on the mortgage company Solicitor panel. What can I do to check?
You need to contact your Victoria Docks conveyancer. You lawyer should inform you of the situation. Where they are not on the panel they may be able to suggest a Victoria Docks conveyancing practice that is on the approved list of lawyers for your bank.
We were just about to exchange contracts for a ground floor flat in Victoria Docks. We have hit a stumbling block. The mortgage offer with Yorkshire Building Society expires on 16/3/2026 but the sellers are insisting on a completion date of 18/3/2026. Can one prolong the mortgage expiry date?
The best person to deal with your concern is your conveyancer who will hopefully determine whether he or she is better off negotiating with the lender, vendor’s conveyancers, selling agents or possibly all three given the history of your transaction as of today.
Having sold my house in Victoria Docks last July yet the purchaser is texting every few hours complaining that their conveyancer is waiting to hear from mine. What are the post completion sale legalities now that I have sold?
Following your disposal your solicitor is obliged to deliver the transfer documentation and all additional paperwork to the purchaser's solicitors. Where relevant, your solicitor should also send confirmation that the home loan has been paid off to the purchasers lawyers. There is unlikely to be post completion requirements just for conveyancing in Victoria Docks.
Just had an offer accepted on a new build apartment in Victoria Docks. Conveyancing is necessary evil at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build legal work.
Set out below are examples of a selection of leasehold new build enquiries that you should expect your new-build leasehold conveyancing in Victoria Docks
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Where service of notices and proceedings can be at the property demised please confirm that this can be amended to include simultaneous services at the Lessees’ solicitors’ offices where the Lessee from time to time is not resident in the UK - such solicitors may be varied by notice in writing to the Landlord from time to time but otherwise will be as previously specified. The Landlord must covenant to assume the management if the Management Company goes into liquidation or otherwise defaults in running the management scheme. Please supply a car parking plan. Where there is an Undertaking being granted there is the risk of forfeiture of the Headlease subject to relief if one or more of the Underlessees are willing to accept the original Head Lessee’s obligations as otherwise relief will be denied to the Underlessees. The only alternatives are the Head Lessor agreeing not to forfeit the Headlease or the Head Lessee guaranteeing to the Underlessees that it will not be in breach of the Headlease. There must be mutual enforceability of lessee’s covenants.
I am looking for a leasehold apartment up to £245,000 and identified one near me in Victoria Docks I like with a park and railway links in the vicinity, however it only has 52 years on the lease. I can't really find anything else in Victoria Docks in this price bracket, so just wondered if I would be making a mistake purchasing a short lease?
Should you require a mortgage that many years will likely be problematic. Discount the offer by the expected lease extension will cost if not already taken into account. If the existing owner has owned the premises for at least 2 years you can request that they start the process of the extension and pass it to you. An additional ninety years can be extended on to the existing lease and have £0 ground rent by law. You should speak to your conveyancing solicitor regarding this matter.
I am a negotiator for a busy estate agency in Victoria Docks where we see a number of flat sales derailed due to short leases. I have been given contradictory information from local Victoria Docks conveyancing solicitors. Could you clarify whether the seller of a flat can start the lease extension process for the purchaser on completion of the sale?
As long as the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to commence the lease extension process and assign the benefit of the notice to the purchaser. This means that the buyer need not have to sit tight for 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed prior to, or simultaneously with completion of the sale.
An alternative approach is to extend the lease informally by agreement with the landlord either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the purchaser.
I have tried to negotiate informally with with my landlord to extend my lease without getting anywhere. Can one apply to the Leasehold Valuation Tribunal? Can you recommend a Victoria Docks conveyancing firm to act on my behalf?
if there is a absentee freeholder or if there is dispute about the premium for a lease extension, under the relevant legislation it is possible to make an application to the Leasehold Valuation Tribunal to decide the price payable.
An example of a Lease Extension matter before the tribunal for a Victoria Docks property is 46 Credon Road in January 2014. On 11 September 2013 Deputy District Judge Price sitting at the Bow County Court made a vesting order that the freeholder surrender his lease and be granted a new lease of the Premises on such terms as may be determined by the First Tier Tribunal (Property Chamber).The appropriate sum as concluded by the Tribunal was £7225 This case affected 1 flat. The unexpired residue of the current lease was 69.77 years.