I am expecting a offer of a home loan from Santander. I hope to use a Licensed Conveyancer in Wapping. Does the Santander Conveyancing panel exclude Licensed Conveyancers?
The Santander approved solicitor list is, like many other lenders, associated to the Council or Mortgage Lenders or BSA, open to Licensed Conveyancers regulated by the Council of Licensed Conveyancers.
Do the Building Society Association intend to launch a online directory to list solicitors on the Earl Shilton BS conveyancing panel for example in Wapping?
Lexsure has not been advised of any plans on the part of the BSA to promote such a tool.
Is it necessary to pay for insurance to address the risk of chancel repairs when buying a house in Wapping?
Unless a previous purchase of the property completed after 12 October 2013 you can expect solicitors carrying out conveyancing in Wapping to remain recommending a chancel search and or chancel repair liability policy.
I decided to have a survey done on a property in Wapping prior to instructing solicitors. I have been told that there is a flying freehold element to the property. Our surveyor has said that some banks will refuse to grant a mortgage on this type of home.
It varies from the lender to lender. Bank of Scotland has different instructions from Halifax. If you call us we can investigate further with the relevant mortgage company. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Wapping. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Wapping to see if the conveyancing costs will increase in light of this.
Do you have any advice for leasehold conveyancing in Wapping from the point of view of expediting the sale process?
- Much of the delay in leasehold conveyancing in Wapping can be reduced where you appoint lawyers as soon as you market your property and ask them to put together the leasehold information needed by the buyers’ solicitors. If you hold a share in a the Management Company, you should ensure that you have the original share certificate. Obtaining a duplicate share certificate can be a lengthy formality and delays many a Wapping home move. If a duplicate share is needed, you should approach the company officers or managing agents (where applicable) for this sooner rather than later. Some Wapping leases require Licence to Assign from the landlord. If this applies to your lease, it would be prudent to place the estate agents on notice to make sure that the purchasers obtain financial (bank) and professional references. The bank reference should make it clear that the buyer is 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 service charge figures so that they can pass this information on to the buyers or their solicitors. If you have had any disputes with your landlord or managing agents it is essential that these are settled prior to the flat being marketed. The purchasers and their solicitors will be nervous about purchasing a flat where there is a current dispute. You will have to accept that you will have to pay any arrears of service charge or settle the dispute prior to completion of the sale. It is therefore preferable to have any dispute settled ahead of the contract papers being issued to the buyers’ solicitors. You are still duty bound to disclose details of the dispute to the buyers, but it is clearly preferable to reveal the dispute as over rather than ongoing.
Following months of dialogue we are unable to agree with our landlord on how much the lease extension should cost for our flat in Wapping. Does the Leasehold Valuation Tribunal have jurisdiction to calculate the appropriate figures?
Most certainly. We are happy to put you in touch with a Wapping conveyancing firm who can help.
An example of a Freehold Enfranchisement case for a Wapping property 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 remaining number of years on the lease was 107 years.
My brother mentioned that before choosing a conveyancing solicitors they need approved by your lender. It happens to be my first home move but I have an offer in principle via Birmingham Midhshires and I already have a family conveyancing solicitor in Wapping in place. Can Nat West Bank need an approved solicitor to be selected? If so, where can I find that list so I can choose a conveyancing solicitor in Wapping?
You should use a solicitor that is on the Nat West Bank panel. The first thing to do is ring your preferred Wapping conveyancing solicitor and ask if they are on the Nat West Bank panel. If they are not approved you have a couple of choices open to you here:
- Carry on with your chosen Wapping property lawyer but Nat West Bank will undoubtedly instruct a conveyancer on their approved list. This will result in additional cost and likely interruption.
- Appoint a new lawyer to act in the purchase, not forgetting to check that they are on the Nat West Bank conveyancing panel.
- Convince your conveyancer to pull out all the stops to get accepted on the Nat West Bank panel of solicitors.