I am getting a offer of a home loan from Lloyds. My intention is to use a Licensed Conveyancer in Canary Wharf. Does the Lloyds Conveyancing panel exclude conveyancers regulated by the CLC?
The Lloyds approved solicitor list is, like many other lenders, represented by the Council or Mortgage Lenders or Building Society Association, open to Licensed Conveyancers regulated by the Council of Licensed Conveyancers.
Our conveyancer has discovered a a problem with the lease for the flat we are buying in Canary Wharf. The seller’s lawyers have put forward defective title insurance as a solution. We are content with insurance and will cover the costs. Our property lawyer says that he must check that the mortgage company is willing to move forward with this solution. Are we the client or is the mortgage company ?
The short answer to your last question is that, notwithstanding the potential for a conflict of interest, you and the bank are the client. Your property lawyer must comply with the UK Finance Lenders’ Handbook requirements. The UK Finance Lenders’ Handbook conditions require your lawyer to disclose issues such as defects with the lease so that the mortgage company can be afforded the opportunity to check with their valuer as to the extent that the value of the property is affected. Should you refuse to allow your lawyer to make the appropriate notification then your solicitor will have no choice but to discontinue acting for you.
My brother-in-law has suggested I instruct a conveyancing solicitor in Canary Wharf. I I would like to check whether they are accepted on the The Mortgage Works approved list of lawyers. Could you or the lender confirm if they are on the panel?
You should e-mail your solicitor and enquire if they can act for the lender. Alternatively you can get in touch with The Mortgage Works who may be able to assist.
I decided to have a survey done on a property in Canary Wharf before instructing solicitors. I have been told that there is a flying freehold aspect to the property. The surveyor has said that some banks will not grant a loan on such a house.
It depends who your proposed lender is. Bank of Scotland has different instructions for example to Halifax. Should you wish to telephone us we can check with the relevant mortgage company. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Canary Wharf. Conveyancing will be smoother if you use a solicitor in Canary Wharf especially if they are accustomed to such properties in Canary Wharf.
I need to instruct a conveyancing practitioner in Canary Wharf for my house move. Is it possible to review a firm’s record with the legal regulator?
Anyone may search for presented Solicitor Regulator Association (SRA) decisions stemming from inquisitions from 2008 onwards. Go to Check a solicitor's record. To find details about the period before 1 January 2008, or to check a solicitors history, call 0870 606 2555, 08.00 - 18.00 Monday, Wednesday, Thursday, Friday and 09.30 - 18.00 Tuesday. For callers outside the UK, use +44 (0)121 329 6800. The SRA may monitor call for training requirements.
Helen (my wife) and I may need to let out our Canary Wharf basement flat temporarily due to a career opportunity. We instructed a Canary Wharf conveyancing firm in 2004 but they have since shut and we did not have the foresight to get any guidance as to whether the lease permits subletting. How do we find out?
The lease governs the relationship between the landlord and you the leaseholder; specifically, it will set out if subletting is prohibited, or permitted but only subject to certain caveats. The rule is that if the lease contains no specific ban or restriction, subletting is permitted. Most leases in Canary Wharf do not prevent strict prohibition on subletting – such a provision would adversely affect the market value the property. In most cases there is simply a requirement that the owner notifies the freeholder, possibly sending a copy of the tenancy agreement.
I have tried to negotiate informally with with my landlord for a lease extension without success. Can I apply to the Leasehold Valuation Tribunal? Can you recommend a Canary Wharf conveyancing firm to assist?
Most definitely. We can put you in touch with a Canary Wharf conveyancing firm who can help.
An example of a Freehold Enfranchisement matter before the tribunal for a Canary Wharf property is 12, 14 & 16 Hull Close in May 2010. the Tribunal determined that the premium payable for the acquisition of the freehold to the subject premises was the sum of £18,300 This case related to 3 flats. The unexpired term was 101.61 years.