My partner and I are intent on acquiring a maisonette in Wapping. My lawyer is not listed on the lender solicitor list. Am I still permitted to appoint my Wapping conveyancing solicitor even though they are not on the bank list of approved lawyers?
You must appoint a solicitor to deal with the legal work required when you need a mortgage to buy your property. They will conduct all the relevant investigations on the property, ensuring that you will be properly registered as the owner and ensure that all the required mortgage paperwork is in place. One could instruct a Wapping lawyer of your choice. Nevertheless, if the property lawyer selected is not a member of the lender approved list supplemental charges will be incurred as separate legal representation will be required by them. Bank panel applications can be submitted, so if your solicitor has not previously applied for membership they should do so.
I am selling my home in Wapping. Does my solicitor have to be on the UBS conveyancing panel in order to deal with paying off my mortgage?
Ordinarily, even if your lawyer is not on the UBS conveyancing panel they can still act for you on your sale. It might be that the lender will not release the original deeds (if applicable and increasingly irrelevant) until after the mortgage is paid off. You should speak to your lawyer directly before you start the process though to ensure that there is no problem as lenders are changing their specifications fairly frequently at the moment.
When it comes to lenders such as RBS, do Wapping lawyers incur an annual charge to be on the conveyancing panel?
We are not aware of any lender fees to register on their panel, although some do levy an administration fee to deal with the processing of the conveyancing panel submission.
I was told two weeks ago that my mortgage has been agreed to by Principality. Is it usual for Principality to only issue the offer once my solicitor in Wapping is approved on their conveyancing panel? Principality have asked my solicitor to see a copy of their PI Insurance.
A lender would not issue a mortgage until they have details of a lawyer on their panel. It can take a few weeks for Principality to deal with your lawyer's application to be on the Principality conveyancing panel. There's no guarantee that your solicitor will be accepted.
UBS have agreed my mortgage in principle, my bid on a apartment in Wapping has been accepted, what happens next?
The property agent will wish to know who your solicitors are (ensure that the property lawyers are on the bank’s panel). Contact UBS or the broker and complete any appropriate forms. UBS will appoint a valuer who will get in touch with the selling agent or vendor to book a time for the valuation to happen. Once carried out (assuming no problems) it takes approximately a fortnight for the mortgage offer to be issued. UBS will send the offer to you and your property lawyers. The transaction will then take it’s course according the nature and complexity of the conveyancing in Wapping.
Despite weeks of looking the Title Certificate and documents to our property are lost. The solicitors who dealt with the conveyancing in Wapping 5 years ago are no longer around. What do I do?
You no longer need to hold title official documentation to establish that you are the registered proprietor of land or property, given that the Land Registry have everything they need in a digital format.
How does conveyancing in Wapping differ for new build properties?
Most buyers of new build property in Wapping approach us having been asked by the seller to sign contracts and commit to the purchase even before the premises is ready to move into. This is because house builders in Wapping typically 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 used to new build conveyancing in Wapping or who has acted in the same development.
I'm remortgaging my primary home to a BTL mortgage with Birmingham Midshires and intend to use the remaining equity towards further house. The neighborhood we are interested in is Wapping. Will your lawyers be able to act for the two banks and link together the conveyances?
Make use of our search tool on this page to ensure that the solicitors are on the relevant lender panels. Having checked that they are your conveyancer will be able to simultaneously deal with the two deals but you should talk with you lawyer and specify your desired outcome and needs.