I was notified yesterday by my broker that my Shadwell solicitor is not on the mortgage company Conveyancing panel. What can I do to be sure whether this is correct?
The sensible course of action for you to take is to call your Shadwell conveyancer. You lawyer should inform you what has happened. If they are not on the panel they could put your in touch with solicitors on the conveyancing panel for your bank.
My conveyancer has identified a defect with the lease for the flat we are buying in Shadwell. The other side have put forward defective title insurance as a solution. We are happy with insurance and will pay for it. Our conveyancing practitioner has advised that he must be satisfied 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 risk of a conflict of interest, you and the mortgage company 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 bank 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 property lawyer will have no choice but to discontinue acting for you.
It is a dozen years since I purchased my property in Shadwell. Conveyancing lawyers have now been instructed on the sale but I am unable to find the title documents. Will this jeopardise the sale?
Don’t worry too much. Firstly the deeds may be kept by the mortgage company or they could be in the possession of the lawyers who acted in your purchase. Secondly the chances are that the land will be registered at the land registry and you will be able to prove you own the property by your conveyancing lawyers procuring current official copies of the land registers. Nearly all conveyancing in Shadwell involves registered property but in the rare situation where your property is not registered it is more problematic but is resolvable.
Should my solicitor be asking questions about flooding during the conveyancing in Shadwell.
Flooding is a growing risk for lawyers dealing with homes in Shadwell. Some people will acquire a house in Shadwell, fully expectant that at some time, it may be flooded. However, leaving to one side the physical damage, where a house is at risk of flooding, it may be difficult to obtain a mortgage, satisfactory insurance cover, or sell the premises. Steps can be carried out as part of the conveyancing process to forewarn the buyer.
Conveyancers are not best placed to impart advice on flood risk, however there are a various searches that may be undertaken by the purchaser or by their conveyancers which should give them a better appreciation of the risks in Shadwell. The conventional set of property information forms sent to a purchaser’s conveyancer (where the solicitors are adopting what is known as the Conveyancing Protocol) incorporates a usual inquiry of the owner to find out if the property has suffered from flooding. If the residence has been flooded in past which is not disclosed by the vendor, then a purchaser may bring a claim for damages as a result of such an inaccurate response. A purchaser’s solicitors may also order an environmental report. This will higlight if there is any known flood risk. If so, more detailed inquiries will need to be carried out.
I opted to have a survey completed on a house in Shadwell ahead of appointing conveyancers. I have been told that there is a flying freehold element to the property. Our surveyor has said that some banks will refuse to grant a loan on this type of property.
It varies from the lender to lender. Lloyds has different instructions for example to Nationwide. If you call us we can check via the appropriate mortgage company. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Shadwell. Conveyancing will be smoother if you use a solicitor in Shadwell especially if they are acquainted with such properties in Shadwell.
Completion is due on the sale of our £425,000 garden flat in Shadwell in just under a week. The freeholder has quoted £336 for Landlord’s certificate, building insurance schedule and previous years statements of service charge. Is the landlord entitled to charge exorbitant fees for a flat conveyance in Shadwell?
For most leasehold sales in Shadwell conveyancing will involve, questions about the management of a building inevitably needing to be answered directly by the freeholder or its agent, this includes :
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Addressing conveyancing due diligence enquiries
Where consent is required before sale in Shadwell
Supplying insurance information
Deeds of covenant upon sale
Registering of the assignment of the change of lessee after a sale
Following months of dialogue we cannot agree with our landlord on how much the lease extension should cost for our flat in Shadwell. Does the Leasehold Valuation Tribunal have jurisdiction to calculate the appropriate figures?
Most certainly. 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 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 was in relation to 3 flats. The unexpired lease term was 101.61 years.