We were just about to exchange contracts for a ground floor flat in Wapping. We have hit a snag. The loan offer with Lloyds TSB Bank expires on 13/6/2025 but the owners are insisting on a completion date of 17/6/2025. Is it possible to extend the mortgage offer?
The person best placed to address this concern is your solicitors who is in a position to calculate if he or she is corresponding with the bank, seller’s lawyers, estate agents or indeed all parties based on what has happend in your conveyancing to date.
It is a dozen years since I bought my home in Wapping. Conveyancing lawyers have recently been retained on the sale but I am unable to track down my title documents. Will this jeopardise the sale?
Don’t worry too much. Firstly the deeds may be retained by the lender or they could be in the possession of the conveyancers who oversaw your purchase. Secondly the chances are that the property will be recorded at the land registry and you will be able to prove you own the property by your conveyancing solicitors obtaining current official copies of the land registers. Most conveyancing in Wapping involves registered property but in the rare situation where your home is unregistered it is more of a problem but is not insurmountable.
When it comes to lenders such as RBS, do Wapping conveyancers have to pay a yearly amount to be on the list of approved solicitors?
We are not aware of any bank fees to be on their list of approved firms, although some do charge an administration fee to deal with the processing of the conveyancing panel application.
Can you point me to a directory of Lloyds panel conveyancers in Wapping on the Council of Mortgage Lender’s Website?
No. There is no such facility on the Council of Mortgage Lenders or Building Society Association websites. Very few mortgage companies make their panel listings visible online. If you are looking for a Wapping conveyancing practitioner on the Lloyds please use our tool.
We have agreed to purchase a house in Wapping. A rare aspect is that the roof has a solar panel. Solicitors conducting should look into this right? Will my lender Nottingham be concerned?
Given that you are obtaining a mortgage with Nottingham your lawyer must comply with the formal requirements set out in Part two of UK Finance Lenders’ Handbook for Nottingham. The CML Handbook stipulates minimum provisions for solar panel roof-space leases, and lawyers are required to report to Nottingham where a lease fails to satisfy these requirements. The requirements relate to the installation of panels on properties nationwide and is not limited to Wapping.
Over the last few months I have been searching for a ground for flat up to £305k and found one round the corner in Wapping I like with a park and transport links nearby, the downside is that it only has 49 years on the lease. I can't really find anything else in Wapping for this price, so just wondered if I would be making a mistake acquiring a lease with such few years left?
If you require a home loan that many years will be a potential deal breaker. Discount the offer by the expected lease extension will cost if not already taken into account. If the current owner has owned the property for at least 2 years you may ask them to start the process of the extension and then assign it to you. You can add 90 years to the existing lease term and have £0 ground rent by law. You should speak to your conveyancing lawyer concerning this matter.
We are 3 weeks into a residential purchase having been directed to a firm by the estate agent to handle our conveyancing in Wapping. I am am extremely disappointed with the quality of service. Can you help me find new lawyers?
They would have to be very bad to suggest changing them. Has the mortgage been sent? If so you need to inform them of the replacement conveyancer and have the mortgage documents are re-sent. The solicitor ideally should be on the lenders approved list to avoid escalating costs and frustration. That should be your first question of the new solicitors. The find a solicitor tool will help you find a bank approved lawyer for your conveyancing in Wapping
My solicitors in Wapping have advised me that no longer have my conveyancing file. To assist with my purchase I took out a mortgage with the bank. Is it case that being on the lender conveyancing panel they need to have retained the file for a number of years?
It very much depends from lender to lender but many of the Terms and Conditions of Conveyancing Panel Appointment require the file to be held for a period of 6 years. That being said we have not seen a copy of the mortgage company Conveyancing Panel Terms. It might be worth you contacting the bank directly.