We have rather pushy sellers who has suggested a lock out contract with a down payment two thousand pounds. Are such agreements sensible?
This form of arrangement is not the norm in Canary Wharf, conveyancers are not keen on them as they detract from focusing on the primary objective, namely conveyancing and if you end up losing your deposit then the solicitor is left exposed. Secondly, there is no certainty that just because the proprietor has executed an exclusivity contract they will complete the sale with you. They may be motivated to break the contract if they are offered a big enough financial inducement to do so because an aggrieved purchaser with the benefit of a lockout agreement will still be obliged show losses as a consequence of the breach and this may not compare to the financial benefit that your vendor may obtain by reneging on the contract, however morally reprehensible it undoubtedly is.
I am buying a terrace house in Canary Wharf. The intention is to convert the garage to a playroom at the house.Will legal investigations on the property involve investigations to ascertain if these alterations were previously refused?
Your conveyancer should check the registered title as conveyancing in Canary Wharf will on occasion reveal restrictions in the title documents which prevent categories of alterations or necessitated the permission of another owner. Many works need local authority planning consent and approval in compliance with building regulations. Certain areas are designated conservation areas and special planning restrictions apply which often prevent or affect extensions. It would be wise to check these issues with a surveyor ahead of any purchase.
I have today made my last payment due on my mortgage with RBS. I assume I don't need a Canary Wharf property lawyer on the RBS panel to remove the mortgage at the Land Registry. Am I right?
If you have finished paying off your RBS mortgage, they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the RBS mortgage from the register. RBS, and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:
- but are not moving to another property
- where RBS has sent the Land Registry the discharge electronically, and
- RBS has instructed the Land Registry to do so
After weeks of negotiation I have agreed a price on an apartment in Canary Wharf. My mortgage broker suggested a property lawyer. I paid an on account payment of £175. A couple of days later, the solicitor contacted me sheepishly admitting that they were not on the RBS conveyancing panel. Am I right in thinking that I should be due a refund?
You should be able to recover this from the law firm if they were not on the RBS panel. They should have asked at the outset which lender you were obtaining a mortgage with. An important lesson to readers of this site is to check that the lawyers are on the appropriate lender panel.
I acquired my home on 5 October and my personal details is yet to be on the land registry website. Any reason for this? My conveyancing solicitor in Canary Wharf expressed confidence that it should be concluded in a couple of weeks. Are titles in Canary Wharf uniquely lengthy to register?
As far as conveyancing in Canary Wharf registration is no quicker or slower than anywhere else in the country. As opposed to being determined by geographic area, timescales can differ according to who lodges the application, whether it is in order and whether the Land registry communicate with any third parties. At present approximately 80% of submission are fully dealt with in less than three weeks but some can be subject to longer hold-ups. Registration is effected once the new owner is living at the property so 'speed' is not typically primary concern but where it is urgent that the the registration takes place urgently then you or your lawyers should communicate with the Registry to express the reasoning for an expedited registration.
I've recently found out that there is a flying freehold issue on a property I put an offer in two weeks back in what was supposed to be a straight forward, chain free conveyancing. Canary Wharf is where the house is located. What do you suggest?
Flying freeholds in Canary Wharf are unusual but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Canary Wharf you must be sure that your lawyer goes through the deeds very carefully. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Canary Wharf may decide that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold property.
Given that I will soon spend hundreds of thousands of pounds on a terraced house in Canary Wharf I would like to talk to a solicitor concerning thetransaction prior to instructing the firm. Is this something that you can arrange?
This is something that we encourage - it is our preference to talk to you we do not take any clients on without you first talking to the conveyancer due to be doing your conveyancing in Canary Wharf.There is no ‘factory style conveyancing’ - every client is unique individual, not a case number. The law firms that we put you in touch with believe that the figure you are calculated and presented to you for residential conveyancing in Canary Wharf should be the figure that you end up paying.
I have checked your search tool I can't find the lawyer I was hoping to instruct as being on the bank conveyancing panel. My lawyer has said that they are on the bank approved panel. How can I be sure given that they are not listed on your directory?
Not all firms are yet listed on our lender panel search tool which is still relatively new. Law firms are listing on a daily basis and it is probably the case that your lawyer is on the bank conveyancing lawyer and you should probably take them at their word. Please do feel free to suggest that they completing their listing on our site as it would only cost them £1 a month to list themselves as being on the mortgage company solicitor panel.