My house in Shadwell is up for sale and I have a buyer. Will my property lawyer have to be on the Kent Reliance conveyancing panel in order to deal with paying off my mortgage?
Ordinarily, even if your lawyer is not on the Kent Reliance conveyancing panel they can still act for you on your sale. It might be that the lender will not release the original deeds (if applicable and increasingly irrelevant) until after the mortgage is paid off. You should speak to your lawyer directly before you start the process though to ensure that there is no problem as lenders are changing their specifications fairly frequently at the moment.
Do I choose a Licenced Conveyancer or Solicitor for conveyancing in Shadwell?
There are two types of lawyers who can perform conveyancing in Shadwell namely CLC regulated conveyancers or solicitors. The two can provide conveyancing services that required to complete the disposal or purchase of property. They are both required to execute Shadwell conveyancing to the same quality and guidelines so you can be safe in the knowledge that your conveyancing will be professionally conducted and that the requisite steps will be accurately taken.
When it comes to lenders such as Bank of Ireland, do Shadwell conveyancing practitioners face a fee to be on the list of approved solicitors?
We are unaware of any mortgage company fees to be on their panel, although some do charge an administration charge to deal with the processing of the conveyancing panel submission.
Our sealed bid on a property in Shadwell has been accepted, but there is a chain. The sellers have offered on on an apartment, but it’s not yet agreed to, and have viewings of other apartments booked. I have selected a bricks and mortar conveyancing solicitor in Shadwell. What do I do now? At what point should I apply for the mortgage with RBS?
It is understandable to have anxieties where there is a chain as you are unlikely to want to be too out of pocket too early (mortgage application is approx £1k, then survey, Shadwell conveyancing search fees, etc). The first thing to do is ensure that your lawyer is on the RBS conveyancing panel. Concerning the subsequent phase this very much depends on the specifics of your case, attraction to this property and on the state of the market. During a rising market many purchasers would apply for a home loan with RBS and arrange for the valuation and only if it was satisfactory would they ask their conveyancer to move forward with searches.
My colleague recommended that where I am buying in Shadwell I should carry out a Neighbourhood, Planning and Local Amenity Search. Can you explain what the purpose of this search is?
A search of this type is usually quoted for as part of the standard Shadwell conveyancing searches. It is a large document of more than thirty pages, listing and setting out significant information about Shadwell around the property and the people living there. It includes an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the local Housing Market, Council Tax Banding, the demographics of People living in the area, the dominant type of Housing, the Average Property Price, Crime statistics, Shadwell Education with plans and statistics, Local Amenities and other useful information about Shadwell.
Are there restrictive covenants that are commonly picked up as part of conveyancing in Shadwell?
Covenants that are restrictive in nature can be picked up when reviewing land registry title as part of the process of conveyancing in Shadwell. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
I only have 68 years unexpired on my lease in Shadwell. I now wish to get lease extension but my landlord is absent. What should I do?
If you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application to the County Court for for permission to dispense with the service of the initial notice. This will mean that your lease can be lengthened by the Court. However, you will be required to prove that you have done all that could be expected to locate the freeholder. In some cases a specialist should be useful to conduct investigations and to produce an expert document to be accepted by the court as proof that the landlord can not be located. It is wise to seek advice from a conveyancer in relation to investigating the landlord’s disappearance and the application to the County Court covering Shadwell.
My wife and I have hit a brick wall in trying to purchase the freehold in Shadwell. Can the Leasehold Valuation Tribunal adjudicate on premiums?
Where there is a missing freeholder or if there is dispute about what the lease extension should cost, under the relevant legislation it is possible to make an application to the Leasehold Valuation Tribunal to judgment on the price.
An example of a Freehold Enfranchisement decision 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 term was 101.61 years.
At what stage do I cover the costs of stamp duty payable for my purchase in Shadwell?
Most lawyers will complete a Land Transaction Return Form on your behalf as part of your Shadwell conveyancing transaction for you to sign. On completion your solicitor will submit the STL Return Form to the Tax Authorities and - as long as they have the money - settle any tax bill due for you.