Recently been in touch with my conveyancing lawyer in Wapping who acted for me two years ago and wanted a conveyancing quote based on the same type of house sale & purchase (a leasehold property and a freehold premises) of similar values with a loan from Skipton Building Society. I am now being quoted twice the amount. Am I right to be tempted to shop around for a cheaper online firm of conveyancing solicitor?
The estimate fees are a little high. If you shop around you could reduce the fees marginally by perhaps £100 plus VAT. That being said, assuming were pleased with the assistance the firm gave you couldlive to regret opting for an an untested solicitor. Don't forget to check that the firm can represent Skipton Building Society. Do make use of our search tool to choose a Wapping conveyancing firm on the Skipton Building Society member panel, which can often include conveyancing solicitors in Wapping.
The owners have very pushy sellers who has recommended a lock out agreement with a non-refundable deposit two thousand pounds. Are such agreements sensible?
This type of agreement is unusual in Wapping, conveyancers will often sway clients away from them as they detract from the main conveyancing focus and if you end up having your deposit forfeited then the lawyer at best left with an upset client and at worst a litigious one. Secondly, there is no assurance that just because the owner has executed a lock out contract they will sell to you. They may be in contravention of the contract if they are offered a large enough financial inducement to do so because an aggrieved party with the benefit of a exclusivitycontract will still be obliged establish consequential losses from the breach and this may not amount to the extra amount that your seller may secure by breaching the contract, however morally condemnable the behaviour is.
My husband and I are purchasing a newly converted flat in Wapping with a loan from Leeds Building Society.We like our Wapping conveyancing practitioner but Leeds Building Society advised that her practice is not on their "panel". It seems we are left with little choice but to instruct a Leeds Building Society panel firm or retain our local solicitor and pay for one of their panel ones to represent them. We feel as though this is unjust; Can we not simply insist that Leeds Building Society use our lawyer?
Unfortunately,no. The mortgage issued to you contains various provisions, one of which will be that lawyers must be on the Leeds Building Society solicitor panel. in the past, most mortgage companies had large numbers of solicitors 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 lawyer to apply to be on the conveyancing panel for Leeds Building Society
I am helping my niece sell her property in Wapping. Does the conveyancer order an energy assessment or do I organise this?
Following the demise of Home Information Packs, energy performance certificates was kept a required part of moving house. An EPC should be commissioned prior to the property being advertised. This is not something that lawyers normally organise. Where you are instructing a Wapping conveyancing practitioner they might be willing to arrange energy performance certificates given their relationships with reputable local assessors
I recently had an offer accepted on an apartment in Wapping. My financial adviser suggested a property lawyer. I paid an on account payment of £150. Soon after, the lawyer called me embarrassingly acknowledging that they were not on the RBS conveyancing panel. Am I right in thinking that I should be due a refund?
You should be able to recover this from the law firm if they were not on the RBS panel. They should have asked at the outset which lender you were obtaining a mortgage with. An important lesson to readers of this site is to check that the lawyers are on the appropriate lender panel.
I am due to exchange contracts on my house. I had a double glazing fitted in November 2008, but did not receive a FENSA certificate or Building Regulation Certificate. My buyer's mortgage company, Aldermore are being pedantic. The Wapping solicitor who is on the Aldermore conveyancing panel is happy to accept ‘lack of building regulation’ insurance but Aldermore are insisting on a building regulation certificate. Why do Aldermore have a conveyancing panel if they don't accept advice from them?
It is probably the case that Aldermore have referred the matter to their valuer. The reason why Aldermore may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing was correctly and safely installed. The indemnity insurance merely protects against enforcement action which is very unlikely anyway.
I have todaybecome aware that Action Conveyancing have closed. They conducted my conveyancing in Wapping for a purchase of a freehold house 10 months ago. How can I check that my home is in my name in the name of the previous owner?
The easiest method to check if the premises is in your name, you can carry out a search of the land registry (£3.00). You can either do this yourself or ask a law firm to do this for you. If you are not registered you can seek help from one of a number of Wapping conveyancing specialists.
Do you have any top tips for leasehold conveyancing in Wapping from the point of view of saving time on the sale process?
- A significant proportion of the frustration in leasehold conveyancing in Wapping can be reduced where you instruct lawyers as soon as you market your property and request that they start to collate the leasehold information which will be required by the buyers’ solicitors. If you have the benefit of shareholding in the freehold, you should ensure that you have the original share certificate. Organising a re-issued share certificate is often a lengthy process and frustrates many a Wapping conveyancing transaction. Where a duplicate share certificate is needed, you should approach the company officers or managing agents (if applicable) for this sooner rather than later. You may think that you are aware of the number of years left on your lease but it would be advisable verify this via your lawyers. A buyer’s lawyer will not be happy to advise their client to to exchange contracts if the lease term is less than 80 years. In the circumstances it is essential at an as soon as possible that you identify whether the lease term for your property needs extending. If it does, contact your solicitors before you put your home on the market for sale. The majority of landlords or managing agents in Wapping levy fees for supplying management packs for a leasehold premises. You or your lawyers should find out the actual amount of the charges. The management pack can be applied for as soon as you have a buyer, thus reducing delays. The typical amount of time it takes to obtain the necessary information is three weeks. It is the most usual cause of frustration in leasehold conveyancing in Wapping. A minority of Wapping leases require Licence to Assign from the landlord. If this is the case, it would be prudent to place the estate agents on notice to make sure that the purchasers obtain bank and professional references. The bank reference will need to confirm that the buyers are financially capable of paying the yearly service charge and the actual amount of the service charge should be quoted in the bank’s letter. You will therefore need to provide your estate agents with the actual amount of the service charge so that they can pass this information on to the buyers or their lawyers.
My wife and I have hit a brick wall in negotiating a lease extension in Wapping. Can this matter be resolved via the Leasehold Valuation Tribunal?
if there is a absentee freeholder or where there is disagreement about the premium for a lease extension, under the relevant statutes it is possible to make an application to the Leasehold Valuation Tribunal to determine the amount due.
An example of a Freehold Enfranchisement matter before the tribunal 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 residue of the current lease was 107 years.