We are approaching an exchange on a property in Shadwell and my parents have transferred the 10% deposit to my conveyancer. I am now told that as the deposit has not arrived from me my property lawyer needs to disclose this to my bank. Apparently, in also acting for the bank he must advise them that the balance of the purchase price is coming from anyone other than me. I informed the bank concerning my parents' contribution when I applied for the home loan, so is it really appropriate for him to raise this?
Your conveyancer is obliged to check with lender to ensure that they know that the balance of the purchase price is not from your own resources. Your solicitor can only reveal this to your lender if you permit them to, failing which, your lawyer must cease to continue acting.
Forgive me if this question is silly but I am unexperienced as a 1st time purchaser of a ground floor flat in Shadwell. Do I pick up the keys to the property on completion from my conveyancer? If this is the case, I will find a High Street conveyancing solicitor in Shadwell?
On the day of completion you do not need to attend the conveyancers office in Shadwell. Your solicitors will transfer the purchase money to the owner’s solicitors, and once they have received this, you should be invited to receive the keys from the property Agents and start moving into the property. Usually this happens early afternoon.
Can you point me to a directory of Aldermore panel solicitors in Shadwell on the Council of Mortgage Lender’s Website?
Unfortunately not yet. There is no such facility on the CML or Building Society Association sites. Very few mortgage companies make their panel listings open the public online. Where you are looking for a Shadwell property lawyer on the Aldermore please make the most of our tool.
Having digested plenty of house buying guides, I note that they all recommend that you should get your house surveyed prior to buying it. When I asked my local Shadwell solicitor - who is on the UBS conveyancing panel - on this she said they don't do this and I need to contract an independent surveyor. Is that normal?
UBS will need an independent valuation of the property. Your lawyer will not arrange this. Usually UBS will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey. You may wish to consider appointing your own Shadwell surveyor to carry out a survey or prepare a home buyers report on the property. It is up to you to satisfy yourself that the property is structurally sound before you buy it. If the survey or report reveals that building work is needed, you should tell your solicitor. You may wish to renegotiate with the seller.
About to purchase a new build apartment in Shadwell. Conveyancing is a frightening process 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 conveyancing.
Here is a sample of a selection of leasehold new build enquiries that you should expect your new-build leasehold conveyancing in Shadwell
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Has the Lease plan been approved by the Land Registry and if not when will they be lodged for this purpose? The Lease must contain a provision on behalf of the Vendor to pay the service charges in respect of unoccupied units in order to ensure that all services can be provided. The Landlord must covenant to assume the management if the Management Company goes into liquidation or otherwise defaults in running the management scheme. There must be mutual enforceability of lessee’s covenants. Forfeiture - bankruptcy or liquidation must not apply under this provision.
I have been on the look out for a leasehold apartment up to £245,000 and found one round the corner in Shadwell I like with amenity areas and railway links in the vicinity, the downside is that it only has 52 years on the lease. There is not much else in Shadwell suitable, so just wondered if I would be making a grave error purchasing a lease with such few years left?
If you need a mortgage that many years will be a potential deal breaker. Reduce the price by the expected lease extension will cost if it has not already been discounted. If the existing owner has owned the property for at least 2 years you may request that they start the process of the extension and then assign it to you. An additional ninety years can be extended on to the current lease and have £0 ground rent by law. You should consult your conveyancing lawyer concerning this matter.
I am looking for a conveyancing solicitor in Shadwell for my home move. Is it possible to review a firm’s complaints history with the legal regulator?
Members of the public can review presented Solicitor Regulator Association (SRA) decisions resulting from investigations from 2008 onwards. Go to Check a solicitor's record. To find information Pre 2008, or to check a firm's record, call 0870 606 2555, 08.00 - 18.00 Monday, Wednesday, Thursday, Friday and 09.30 - 18.00 Tuesday. For non-uk callers, dial +44 (0)121 329 6800. The regulator could monitor telephone calls for training requirements.
I am hoping to sign contracts shortly on a ground floor flat in Shadwell. Conveyancing lawyers inform me that they are sending me a report within the next couple of days. What should I be looking out for?
Your report on title for your leasehold conveyancing in Shadwell should include some of the following:
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Whether the landlord has obligations to ensure rights of quiet enjoyment over your premises and do you know what it means in practice? Does the lease prohibit wood flooring? The physical ownership of the property. This may be the property itself but could also incorporate a roof area or basement if applicable. You should receive a copy of the lease
I have had difficulty in trying to purchase the freehold in Shadwell. Can the Leasehold Valuation Tribunal adjudicate on premiums?
Where there is a absentee freeholder or where there is disagreement about the premium for a lease extension, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the Leasehold Valuation Tribunal to decide the price.
An example of a Freehold Enfranchisement matter before the tribunal for a Shadwell residence 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 lease term was 101.61 years.