Much to our surprise we have been told by our mortgage broker that my Wapping lawyer is not on the mortgage company Conveyancing panel. What can I do to be certain if this is indeed the case?
The first thing you need to do is to contact your Wapping conveyancer. You lawyer should inform you what has happened. Where they are not on the panel they may recommend you to a Wapping conveyancing practice that is on the conveyancing panel for your mortgage company.
My partner and I intend to remortgage our penthouse in Wapping with Kent Reliance. We have a son 19 who lives at home. Our solicitor requested us to identify any adults other than ourselves who lives in the flat. Our lawyer has now e-mailed a document for our son to sign, waiving any legal rights in the event that the property is repossessed. I have a couple of concerns (1) Is this form unique to the Kent Reliance conveyancing panel as he never had to sign this form when we purchased 5 years ago (2) In signing this form is our son in any way compromising his right to inherit the property?
On the face of it your lawyer has done nothing wrong as it is established procedure for any occupier who is aged 17 or over to sign the necessary Consent Form, which is purely to state that any rights he has in the property are postponed and secondary to Kent Reliance. This is solely used to protect Kent Reliance if the property were re-possessed so that in such circumstances, your son would be legally obliged to leave. It does not impact your son’s right to inherit the apartment. Please note that if your son were to inherit and the mortgage in favour of Kent Reliance had not been discharged, he would be liable to take over the loan or pay it off, but other than that, there is nothing stopping him from keeping the property in accordance with your will or the rules of intestacy.
Forgive me if this question is silly but I am unseasoned as a first time buyer of a ground floor flat in Wapping. Do I collect the keys to the premises on completion from my lawyer? If this is the case, I will appoint a local conveyancing solicitor in Wapping?
There is no need to visit the lawyers office on the day of completion. Your solicitors will electronically transfer the completion advance to the vendor’s solicitors, and shortly after the monies have arrived, you should be able to receive the keys from the property Agents and move into your new home. Usually this happens between 1 and 3pm.
We are planning to move house in December. Will my conveyancing solicitor communicate with the removal company on the completion day. On a separate note, can you recommend a removal company in Wapping. Conveyancing lawyer was chosen before I stumbled across this website.
On the afternoon of completion you can pick up the house keys from your selling agent however this can only be done after the vendors solicitors advise the agent that the monies to complete are in and the keys can be handed over. After that you should inform the removal company that they can start moving you in. We do not suggest a specific removal company but can help you locate a conveyancing in Wapping or a lawyer that specialises in conveyancing in Wapping.
We had chosen solicitors locally in Wapping on the Yorkshire BS solicitor panel. They have just billed me a further sum for the legal aspects of the Yorkshire BS mortgage. Is this a supplemental conveyancing fee set by Yorkshire BS?
Provided it is contained in their Terms of Engagement or estimate then yes your solicitor can levy a fee for this. This fee is not dictated by Yorkshire BS but by your Wapping lawyer. Plenty of firms on the Yorkshire BS panel will charge an ‘acting for lender’ fee but many firms incorporate it on their overall fee.
About to purchase a new build apartment in Wapping. Conveyancing is daunting at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build legal work.
Set out below are examples of a selection of leasehold new build questions that you can expect your new-build leasehold conveyancing in Wapping
Please supply a car parking plan. The Vendor must covenant to keep unoccupied units in good repair until long leases are granted therefore. 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. Will the freehold then be transferred for a nominal consideration (not exceeding £100) to the Management Company?
Over the last few months I have been searching for a leasehold apartment up to £195,000 and found one close by in Wapping I like with amenity areas and transport links nearby, the downside is that it only has 51 years unexpired on the lease. There is not much else in Wapping in this price bracket, so just wondered if I would be making a grave error buying a short lease?
If you need a mortgage the remaining unexpired lease term may be a potential deal breaker. Discount the offer by the expected lease extension will cost if not already taken into account. If the current proprietor has owned the premises for a minimum of twenty four months you can ask them to commence the lease extension formalities and then assign it to you. An additional ninety years can be extended on to the current lease term with a zero ground rent applied. You should consult your conveyancing lawyer concerning this.
Having had my offer accepted I require leasehold conveyancing in Wapping. Before I get started I require certainty as to the remaining lease term.
If the lease is registered - and almost all are in Wapping - then the leasehold title will always include the short particulars of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title. For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.
I have tried to negotiate informally with with my landlord for a lease extension without any joy. Can one make an application to the Leasehold Valuation Tribunal? Can you recommend a Wapping conveyancing firm to act on my behalf?
Where there is a missing landlord or where there is dispute about the premium for a lease extension, under the Leasehold Reform, Housing and Urban Development Act 1993 it is possible to make an application to the LVT to arrive at the amount due.
An example of a Freehold Enfranchisement matter before the tribunal for a Wapping residence 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 affected 41 flats. The unexpired term was 107 years.