My husband and I are hoping to acquire a property in Limehouse and have instructed a Limehouse conveyancing firm. Within the last couple of days our solicitor has forwarded the sale agreement to be signed with a detailed report in anticipation of exchanging contracts shortly. Barclays Direct have this evening contacted us to advise us that they have now hit a problem as our Limehouse conveyancer is not on their approved list of lawyers. What do we do from here?
If you are buying a property requiring a mortgage it is usual for the purchasers' solicitors to also represent 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 Quality Scheme. Your property lawyer should contact your mortgage company and see if they can apply for membership of their conveyancing panel, but if that is not viable they will instruct their own solicitors to act. You are not legally obliged to appoint a law firm on the bank's conveyancing panel as you are at liberty to use your preferred Limehouse lawyers, in which case your legal fees may increase, and it will likely delay the transaction as you have another set of people involved.
I have a decision in principle. The bank mentioned the mortgage came with free conveyancing. Does this mean I have to appoint their panel solicitor as I would prefer to appoint a high street conveyancing solicitor in Limehouse?
Do check but the chances are that appoint one of their panel solicitors should you want the "fee-free" deal. Call the mortgage company and determine if they allow a monetary alternative. It is not unheard for a lender to give a £250 cashback as an alternative in which case you could put that amount towards the cost for your conveyancing solicitor near Limehouse.
I understand that there are debates on Chancel Insurance on online forums. Am I compelled to take this when acquiring a house in Limehouse? or Apparently there is a law dating back centuries that could mean that homeowners residing in a parish church boundary may be liable to contribute towards repairs towards the chancel in proximity to the church. Is this a legitimate concern for conveyancing in Limehouse?
Unless a prior purchase of the property took place after 12 October 2013 you may assume that solicitors carrying out conveyancing in Limehouse to continue to recommend a chancel search and or insurance against a claim.
I am buying a new build apartment in Limehouse. Conveyancing is a frightening process at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build conveyancing.
Set out below is a sample of a few leasehold new build enquiries that you can expect your new-build leasehold conveyancing in Limehouse
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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. If there are lifts in the building, please confirm that the owners of flats on the ground and basement floors will not be required to contribute towards the cost of maintenance and renewal. The Vendor must covenant to keep unoccupied units in good repair until long leases are granted therefore. Investor purchasers must be able to freely grant unsecured tenancies at market rents without requiring any consents. There must be mutual enforceability of lessee’s covenants.
I've recently found out that there is a flying freehold element on a house I have offered on a fortnight ago in what should have been a simple, chain free conveyancing. Limehouse is where the house is located. Can you offer any assistance?
Flying freeholds in Limehouse are not the norm but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Limehouse you would need to get your solicitor to go through the deeds very carefully. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Limehouse may ascertain 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 premises.
Back In 2008, I bought a leasehold flat in Limehouse. Conveyancing and Lloyds TSB Bank mortgage are in place. I have received a letter from someone saying they have taken over the reversionary interest in the property. It included a demand for arrears of ground rent dating back to 1992. The conveyancing solicitor in Limehouse who previously acted has now retired. Do I pay?
First contact HMLR to make sure that this person is in fact the new freeholder. You do not need to incur the fees of a Limehouse conveyancing practitioner to do this as you can do this on the Land Registry website for a few pound. You should note 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.
I own a ground-floor 1950’s flat in Limehouse. In the absence of agreement between myself and the landlord, can the Leasehold valuation Tribunal make a decision on the sum payable for a lease extension?
Absolutely. We can put you in touch with a Limehouse conveyancing firm who can help.
An example of a Freehold Enfranchisement decision for a Limehouse property is 26 Rhondda Grove in June 2009. The net price payable by the leaseholders as determined by the Tribunal was £3,015.13. This comprised £11,300 premium for the reversion less £8,284.87 costs as ordered by the County Court.