My fiance and I are purchasing a purpose built apartment in Wapping with a loan from Barnsley Building Society.We like our Wapping conveyancing practitioner but Barnsley Building Society informed us she’s not on their approved list of member firms. It seems we are left with no choice but to instruct a Barnsley Building Society panel lawyer or keep our high street solicitor and fork out for a Barnsley Building Society panel lawyer to act for them. This seems very unfair; is there anything we can do?
Unfortunately,no. The loan issued to you is subject to its terms and conditions, a common one being that solicitors must be on the Barnsley Building Society solicitor panel. Until recently, most mortgage companies 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. Another option that might be available is for your lawyer to apply to be on the conveyancing panel for Barnsley Building Society
Yesterday I discovered that there is a flying freehold element on a house I have offered on two weeks back in what was supposed to be a straight forward, chain free conveyancing. Wapping is where the house is located. Is there any advice you can impart?
Flying freeholds in Wapping are not the norm but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Wapping you must be sure that your lawyer goes through the deeds very carefully. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Wapping may ascertain that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold premises.
I am looking into buying my first house which is in Wapping and I am already nervous. I couldn't find anything specific about Wapping. Conveyancing will be needed in due course but do you know about the Wapping area? or perhaps some other tips you can share?
Rather than looking online forget looking online you should go and have a look at Wapping. In the meantime here are some basic statistics that we found
I am four weeks into a residential purchase having been referred to conveyancers by the selling agent to handle our conveyancing in Wapping. I am am starting to be frustrated with the level of service. Could you you assist me in finding new solicitors?
They would have to be very bad to suggest changing them. Has the mortgage offer been generated? If so you must make them aware of the new contact details and have the mortgage documents are issued to the new lawyers. Your new solicitor ideally should be on the mortgage company panel to avoid added fees and complications. So that should be your starting point. Our search tool should assist you in finding a lender approved lawyer for your home move in Wapping
Having checked my lease I have discovered that there are only 68 years remaining on my flat in Wapping. I now wish to get lease extension but my landlord is absent. What are my options?
On the basis that 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 magistrate. However, you will be required to prove that you or your lawyers have done all that could be expected to find the lessor. In some cases an enquiry agent would be useful to try and locate and prepare an expert document to be accepted by the court as evidence that the freeholder is indeed missing. It is wise to seek advice from a solicitor in relation to proving the landlord’s disappearance and the application to the County Court overseeing Wapping.
I am the leaseholder of a second floor flat in Wapping. In the absence of agreement between myself and the freeholder, can the Leasehold valuation Tribunal determine the premium payable for a lease extension?
if there is a absentee freeholder or if there is dispute about the premium for a lease extension, under the Leasehold Reform, Housing and Urban Development Act 1993 it is possible to make an application to the First-tier Tribunal (Property Chamber) to arrive at the amount due.
An example of a Freehold Enfranchisement decision for a Wapping residence is 1-41 Royal Tower Lodge 40 Cartwright Street in April 2013. the tribunal adding the agreed value of capitalised ground rents and the reversion the price to be paid for the freehold was £1,187,000 This case affected 41 flats. The unexpired lease term was 107 years.
Please set out some of compelling advantages to selecting a high street lawyer in Wapping
Many buyers and sellers in Wapping prefer a nearby high street conveyancing practitioner so that they can visit in the event that they have questions, and to collect documents rather taking the chance in relying on the post.
There is a slight advantage in selecting a conveyancing practitioner local to the property you are hoping to purchase, due to the knowledge of the region and possible local issues - but this is debatable. The majority of conveyancers conduct their communications through email and may be any place in the world.