My husband and I are hoping to buy a 1 bedroom apartment in Shoreditch with a mortgage. We have a Shoreditch solicitor, however the mortgage company says she’s not on their "panel". It seems we have little choice but to select one of the bank panel conveyancing practices or keep our Shoreditch conveyancer and pay for one of their panel firms to act for them. We regard this is unjust; are we not able to insist that the bank use our Shoreditch conveyancing practitioner ?
No, not really. Your mortgage offer is subject to its terms and conditions, one of which will be that lawyers will on the bank’s conveyancing panel. Until recently, most lenders had large numbers of law firms on their panels: a borrower could choose 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 Shoreditch conveyancing lawyer to apply to be on the conveyancing panel.
I am the registered owner of a freehold premises in Shoreditch but still charged rent, why is this and what is this?
It is rare for properties in Shoreditch and has limited impact for conveyancing in Shoreditch but some freehold properties in England (particularly common in North West England) pay an annual sum known as a Chief Rent or a Rentcharge to a third party who has no other legal interest in the land.
Rentcharge payments are usually between £2.00 and £5.00 per year. Rentcharges date back many centuries, but the Rent Charge Act 1977 barred the generation of fresh rentcharges from 1977 onwards.
Previous rentcharges can now be redeemed by making a lump sum payment under the Act. Any rentcharges that are still in existence in 2037 is to be extinguished.
About to purchase a new build flat in Shoreditch. Conveyancing is necessary evil 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 legal work.
Here is a sample of a few leasehold new build enquiries that you can expect your new-build leasehold conveyancing in Shoreditch
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Investor purchasers must be able to freely grant unsecured tenancies at market rents without requiring any consents. Has the Lease plan been approved by the Land Registry and if not when will they be lodged for this purpose? The Landlord must covenant to assume the management if the Management Company goes into liquidation or otherwise defaults in running the management scheme. 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. The Vendor must covenant to keep unsold units in good repair until long leases are granted therefore.
I'm remortgaging my primary house to a BTL mortgage with Bank of Ireland and intend to use the remaining equity as a deposit on a second property. The neighborhood we are talking about is Shoreditch. Will your conveyancers be able to act for the two lenders and link together the conveyances?
Do use our search tool on this page to ensure that the solicitors are approved by both lenders. On the basis that they are your conveyancer should be able to simultaneously deal with the two conveyancing matters but you should have a chat with you solicitor and specify your desired outcome and needs.
I need to instruct a conveyancing solicitor for remortgage conveyancing in Shoreditch. I've stumble upon a web site which seems to have the ideal solution If it is possible to get all the legals completed via phone that would be preferable. Should I be wary? What are the potential pitfalls?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?
Looking forward to exchange soon on a ground floor flat in Shoreditch. Conveyancing lawyers assured me that they will have a report out to me within the next couple of days. What should I be looking out for?
Your report on title for your leasehold conveyancing in Shoreditch should include some of the following:
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Defining your legal entitlements in relation to the communal areas in the block.For example, does the lease permit a right of way over an accessway or staircase? Your conveyancers should enable you to have an understanding of the insurance provisions The total ownership of the premises. This may be the property itself but could also include a roof area or basement if appropriate. What you can do if a neighbour breaches a clause of their lease? An explanation concerning the obligations in the lease to to contribute towards maintenance costs - in respect of the block, and the wider rights a lessee enjoys
I am the registered owner of a ground-floor 1950’s flat in Shoreditch. In the absence of agreement between myself and the landlord, can the Leasehold valuation Tribunal determine the amount payable for a lease extension?
Absolutely. We are happy to put you in touch with a Shoreditch conveyancing firm who can help.
An example of a Lease Extension case for a Shoreditch property is 137 & 139 Haberdasher Street in December 2013. The Tribunal determines in accordance with section 48 and Schedule 13 of the Leasehold Reform, Housing and Urban Development Act 1993 that the premium for the extended lease for each Property should be £12,350.00. This case affected 2 flats. The unexpired term was 72.39 years.