My wife and I are purchasing a new build apartment in Canary Wharf and my lawyer is advising me that she has to the mortgage company to reveal incentives from the seller. I am nearing the developer’s deadline to sign contracts and I would rather not delay deal. is my lawyer playing by the book?
You should not exchange unless you have been advised to do so by your conveyancing practitioner. A precondition to being on a bank panel is to comply with the UK Finance Lenders’ Handbook provisions. The CML Conveyancing Handbook requires that your lawyer have the appropriate Disclosure of Incentive form completed by the developer and accepted by your lender.
Having sold my house in Canary Wharf last February but the buyer keeps calling every few hours to say their solicitor needs to hear from mine. What are the post completion sale formalities now that I have sold?
Following your disposal your conveyancer is committed to forward the transfer documentation and all additional paperwork to the purchaser's lawyers. Where appropriate, your conveyancer must also send confirmation that the mortgage has been redeemed to the purchasers conveyancers. There are no post completion formalities specific conveyancing in Canary Wharf.
Do I have to pop into the offices of the solicitor to sign the legal charge? If so, I will appoint a lawyer who conducts conveyancing in Canary Wharf so that I can pop in to their offices if required.
As opposed to ten years ago, almost all lenders no longer require their conveyancing panel lawyer to witness the borrowers signature. You will still be obliged to hand over ID documents and there are still distinct benefits to choosing a local practitioner, in your situation a conveyancing solicitor in Canary Wharf.
I opted to have a survey completed on a house in Canary Wharf in advance of retaining conveyancers. I have been advised that there is a flying freehold element to the property. My surveyor has said that some lenders will not give a mortgage on such a house.
It varies from the lender to lender. Lloyds has different requirements for example to Halifax. If you call us we can investigate further with the appropriate mortgage company. If you lender is happy to lend one our lawyers can help 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 regularly deal with such properties in Canary Wharf.
How straightforward is it to use your search facility to choose a conveyancing practitioner in Canary Wharf on the panel for my bank?
First pick a bank such as Santander, Virgin Money or Clydesdale then specify your location for example Canary Wharf. Conveyancing practices in Canary Wharf and further afield should be shown.
My step-father has recommend that I appoint his lawyers for conveyancing in Canary Wharf. Do I take his recommendation?
There are no two ways about it the best way to select a conveyancing lawyer is to seek referrals from friends or relatives who have used the solicitor that you are are thinking of instructing.