My husband and I are hoping to acquire a flat in Waterloo and are in fact using a Waterloo conveyancing firm. Within the last couple of days our conveyancer has forwarded the sale agreement to be signed with a detailed report with a view to exchanging next week. TSB have this morning contacted us to inform me that there is now an issue as our Waterloo conveyancer is not on their approved list of lawyers. What do we do from here?
When purchasing a property with the benefit of a mortgage it is standard for the purchasers' lawyers to also act for the purchaser's lender. In order to act for a bank or building society a law firm has to be on that lender's conveyancing panel. An application has to be made by the law firm to the lender to become a member of the lender's panel and there are increasingly strict criteria which the firm has to satisfy and indeed some lenders now require their panel members to be part of the Law Society’s Conveyancing Accreditation Scheme. Your property lawyer should contact your lender and see if they can apply for membership of their conveyancing panel, but if that is not viable they will instruct their own lawyers to represent them. You are not legally obliged to appoint a law firm on the lender’s conveyancing panel as you are at liberty to use your preferred Waterloo lawyers, in which case it will likely add costs, and it will likely delay the transaction as you are adding another lawyer into the mix.
We note that you have a search directory identifying firms on the Barclays conveyancing panel. Do firms pay you a referral fee if I instruct them for our own conveyancing in Waterloo?
We are a listing service only for law firms wishing to communicate if they are on the Barclays conveyancing panel or other lender panels. We do not charge referral fees to any conveyancer that you subsequently appoint for your conveyancing in Waterloo.
My bid for a property was accepted at auction in Waterloo. Conveyancing is needed. What are my next steps?
Having legally bound yourself to purchase you must appoint a conveyancing practitioner as a matter of urgency as you will have a tight a fixed date to complete the transaction. An auction property will have a bespoke auction set of papers. This should include the copy title deeds, local authority and drainage searches. Where you are dealing with leasehold premises the legal pack should include a copy of the lease, management information and a sellers leasehold information form and associated conveyancing paperwork specific to a leasehold property. You should give this to the conveyancer instructed by you as soon as possible. Do make sure that that you have the requisite funding in order to complete on the date specified in the contract.
This question may be naive but I am unseasoned as a first time purchaser of a two bedroom flat in Waterloo. Do I pick up the keys to the property on completion from my lawyer? If this is the case, I will instruct a local conveyancing solicitor in Waterloo?
On the day of completion you will not be required to go to the conveyancers office in Waterloo. Conveyancing lawyers for you will transfer the completion advance to the owner’s conveyancers, and once they have received this, you should be able to pick up the keys from the Estate Agents and move into your new home. This tends to happen early afternoon.
I am purchasing a 3 bedroom semi in Waterloo. Our aim is to convert the garage to a playroom at the house.Will legal investigations on the property include enquiries to see if these alterations are allowed?
Your solicitor will review the deeds as conveyancing in Waterloo will occasionally reveal restrictions in the title deeds which restrict certain alterations or need the consent of another owner. Many extensions call for local authority planning consent and approval in accordance building regulations. Many areas are designated conservation areas and special planning restrictions apply which frequently prevent or affect extensions. It would be sensible to check these issues with a surveyor ahead of any purchase.
Just had an offer accepted on a new build apartment in Waterloo. Conveyancing is necessary evil 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.
Here is a sample of a selection of leasehold new build questions that you may expect your new-build leasehold conveyancing in Waterloo
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There must be mutual enforceability of lessee’s covenants. The Landlord must covenant to assume the management if the Management Company goes into liquidation or otherwise defaults in running the management scheme. Will the freehold then be transferred for a nominal consideration (not exceeding £100) to the Management Company? Please supply evidence that the form of Lease proposed has been approved by the Land Registry. Has the Lease plan been approved by the Land Registry and if not when will they be lodged for this purpose?
Hoping to buy a property located in Waterloo and I am already nervous. I couldn't find anything specific about Waterloo. Conveyancing will be needed in due course but do you know about the Waterloo area? or perhaps some other tips you can share?
Rather than looking online forget looking online you should go and have a look at Waterloo. In the meantime here are some basic statistics that we found
Back In 2002, I bought a leasehold flat in Waterloo. Conveyancing and Halifax mortgage organised. A letter has just been received from someone claiming to own the reversionary interest in the property. Attached was a ground rent demand for rent dating back to 1997. The conveyancing practitioner in Waterloo who acted for me is not around. Do I pay?
The first thing you should do is make enquiries of the Land Registry to make sure that the individual claiming to own the freehold is indeed the new freeholder. You do not need to incur the fees of a Waterloo conveyancing firm to do this as it can be done on-line for £3. Rest assured that in any event, even if this is the legitimate freeholder, under the Limitation Act 1980 no more than 6 years of rent can be collected.
Leasehold Conveyancing in Waterloo - A selection of Questions you should consider Prior to buying
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Make sure you investigate if there is anything that is prohibited in the lease. By way of example it is reasonably common in Waterloo leases that pets are not permitted in in a block in Waterloo. If you like the flatin Waterloo but your dog can’t move with you then you will be presented with a hard compromise. The answer will be helpful as a) areas could cause problems for the block as the common areas may begin to deteriorate where maintenance remain unpaid b) if the tenants have a dispute with the running of the building you will need to have complete disclosure