we are a couple who are purchasing a newbuild apartment in Shadwell with a mortgage from Bank of Ireland.We like our Shadwell conveyancing practitioner but Bank of Ireland advised that her practice is not on their "panel". we are left little option but to use a Bank of Ireland panel lawyer or retain our local solicitor and pay for a Bank of Ireland panel lawyer to represent them. This seems very unfair; is there anything we can do?
No, not really. The home loan issued to you is subject to its various provisions, a common one being that conveyancers must be on the Bank of Ireland conveyancing panel. Until recently, most lenders had large numbers of solicitors on their panels: a borrower could find one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. A further alternative is for your solicitors to apply to be on the conveyancing panel for Bank of Ireland
Will my lawyer be raising questions regarding flooding as part of the conveyancing in Shadwell.
Flooding is a growing risk for solicitors dealing with homes in Shadwell. Plenty of people will buy a house in Shadwell, completely aware that at some time, it may be flooded. However, aside from the physical damage, where a house is at risk of flooding, it may be difficult to obtain a mortgage, adequate insurance cover, or sell the premises. Steps can be carried out as part of the conveyancing process to forewarn the purchaser.
Conveyancers are not best placed to impart advice on flood risk, but there are a various searches that can be carried out by the buyer or on a buyer’s behalf which should give them a better understanding of the risks in Shadwell. The standard property information forms supplied to a buyer’s solicitor (where the Conveyancing Protocol is adopted) includes a usual inquiry of the owner to discover if the premises has historically flooded. If flooding has previously occurred and is not disclosed by the owner, then a purchaser may bring a claim for damages stemming from an misleading answer. A purchaser’s lawyers may also order an enviro search. This will indicate if there is a recorded flood risk. If so, additional investigations will need to be conducted.
Me and my brother own a semi-detached Edwardian property in Shadwell. Conveyancing practitioner acted for me and Leeds Building Society. I happened to do a free search for it on the Land Registry database and there are a couple of entries: the first freehold, another for leasehold with the matching property. I thought I was buying a freehold how can I check?
You need to read the Freehold register you have again and check the Charges Register for mention of a lease. The best way to be sure that you are also the registered proprietor of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Shadwell and other areas of the country and poses no real issues for owners other than when they remortgage they have to account for both freehold and leasehold interests when dealing with purchasers. You can also check the position with your conveyancing practitioner who conducted the work.
My uncle has recommend that I use his lawyers for conveyancing in Shadwell. Do I follow his recommendation?
Much as we are happy to recommend a Shadwell conveyancing lawyer it’s preferable to choose a conveyancing practitioner is to seek feedback from friends or family who have actually experience in using the firm that you are considering.
Having had my offer accepted I require leasehold conveyancing in Shadwell. Before I get started I would like to find out the remaining lease term.
If the lease is registered - and almost all are in Shadwell - then the leasehold title will always include the short particulars of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title. For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.
I am the registered owner of a basement flat in Shadwell. Given that I can not reach agreement with the landlord, can the Leasehold valuation Tribunal determine the amount due for the purchase of the freehold?
You certainly can. We are happy to put you in touch with a Shadwell conveyancing firm who can help.
An example of a Freehold Enfranchisement matter before the tribunal for a Shadwell 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 affected 3 flats. The unexpired residue of the current lease was 101.61 years.
I need to change lawyers as my Shadwell lawyer is not on the lender's approved list of conveyancing solicitors. How simple is it to change conveyancer?
In the event that you have not formally appointed a conveyancer to start work and at this stage simply received an estimate as to costs, you're perfectly free to choose a different solicitor to carry out your work for you. The best way is to get recommendations from friends or family who have actually used the solicitor or conveyancer in Shadwell that you're thinking of instructing.