I am selling my home in Wapping and the EA has just telephoned to warn that the purchasers are switching solicitor. The reason given is that the bank will only work with property lawyers on their conveyancing panel. On what basis would a major lender only work with specific solicitors rather the firm that they want to choose to handle their conveyancing in Wapping ?
Lenders have always had an approved set of law firms that can act for them, but in recent years big names such as Lloyds Banking Group, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have worked with them for decades.
Banks justify this action to a rise in fraud as the reason for the cull – criteria have been tightened as a smaller panel is easier to maintain. No lender will say how many solicitors have been dropped, claiming the information is commercially sensitive, but the Law Society claims that it is hearing daily from firms that have been removed from panels. Some do not even realise they have been dropped until contacted by a borrower who has instructed them as might be the situation in your buyers' case. Your buyers are not going to have any impact on this.
Do commercial conveyancing searches disclose proposed roadworks that may impact a commercial site in Wapping?
Many commercial conveyancing solicitors in Wapping will carry out a SiteSolutions Highways report as it dramatically cuts the time that conveyancers invest in looking into accurate data on highways that impact buildings and development assets in Wapping. The search result provides definitive data on the adoption status of roads, footpaths and verges, as well as the implication of traffic schemes and the rights of way surrounding a commercial development sites in Wapping.
For every commercial conveyancing transaction in Wapping it is critical to investigate the adoption status of roads surrounding a site. Failure to identify developments where adoption procedures have not been addressed adequately can cause delays to Wapping commercial conveyancing transactions as well as present a risk to future plans for the site. These searches are not carried out for domestic conveyancing in Wapping.
How does conveyancing in Wapping differ for new build properties?
Most buyers of new build residence in Wapping come to us having been asked by the developer to sign contracts and commit to the purchase even before the premises is completed. This is because builders in Wapping usually buy the land, 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 Wapping or who has acted in the same development.
In my capacity as executor for the will of my aunt I am disposing of a property in Neath but reside in Wapping. My solicitor (who is 250 miles from mehas requested that I execute a stat dec prior to completion. Can you recommend a conveyancing solicitor in Wapping to witness this legal document for me?
strictly speaking you are not likely to need to have the documents attested by a conveyancing solicitor. Ordinarily any notary public or qualified solicitor will do regardless of whether they are based in Wapping
What are your top tips when it comes to finding a Wapping conveyancing firm to deal with our lease extension?
When appointing a property lawyer for lease extension works (regardless if they are a Wapping conveyancing firm) it is most important that he or she should be familiar with the legislation and specialises in this area of work. We recommend that you make enquires with two or three firms including non Wapping conveyancing practices before you instructing a firm. If the firm is ALEP accredited then so much the better. The following questions might be helpful:
How many lease extensions has the firm completed in Wapping in the last twenty four months? How familiar is the practice with lease extension legislation?
Following months of dialogue we simply can't agree with our landlord on how much the lease extension should cost for our flat in Wapping. Does the Leasehold Valuation Tribunal have jurisdiction to calculate the appropriate figures?
You certainly can. We can put you in touch with a Wapping conveyancing firm who can help.
An example of a Freehold Enfranchisement case for a Wapping property is 1-41 Royal Tower Lodge 40 Cartwright Street in April 2013. the tribunal adding the agreed value of capitalised ground rents and the reversion the price to be paid for the freehold was £1,187,000 This case was in relation to 41 flats. The unexpired lease term was 107 years.
At long last a loan agreement from a lender for the remortgage of my 2 bedroom flat is to be issued imminently. Are you able to recommend a cheap remortgage conveyancing lawyer in Wapping ?
You are on the wrong site if you are in need of the lowest fares for conveyancing solicitors in Wapping. Our aim is to provide value for money conveyancing but we do not aim to advertise as being the cheapest. Resist the temptation to appoint companies offering £99 conveyancing in Wapping.In your best case scenario, in going for cheap conveyancing, you will end up with what you pay for and at worst you will end up invoiced for extras and still not get the service you were hoping for.