We were just about to sign contracts for a garden flat in Wapping. We have hit a snag. Our mortgage offer with Nationwide Building Society runs out on 7/8/2026 but the owners are putting forward a completion date of 11/8/2026. Is it possible to extend the loan offer?
The person best placed to address this issue is your conveyancer who will determine whether they corresponding with the bank, seller’s solicitors, selling agents or indeed all three given what has happend in your transaction as of today.
How up to date is your database of Wapping solicitors on the Leeds Building Society conveyancing panel? Do Leeds Building Society send you an updated list?
Wapping conveyancing firms themselves provide us confirmation that they are on the Leeds Building Society conveyancing panel as opposed to being supplied with a list from Leeds Building Society directly.
I am helping my niece sell her property in Wapping. Does the conveyancer commission the energy performance certificate or should I organise this?
After the abolition of Home Information Packs, EPC’s was maintained a mandatory element of selling a property. An energy assessment should be to hand in advance of the property being put on the market. This is not a task that solicitors normally arrange. Where you are instructing a Wapping conveyancing practitioner they may be willing to arrange energy assessments due to their relationships with reputable Wapping accredited person
Is it correct that all Wapping CQS (Conveyancing Quality Scheme) solicitors are on the Santander conveyancing list of approved practices?
A selection of lenders now make use of the accreditation scheme as the kick off point for Panel approval such as HSBC and Santander. CQS accreditation however is no guarantee to lender panel acceptance. That being said,the CML have indicated that it is likely to become a pre-requisite for solicitors wishing to remain on their approved list of firms.
Planning on purchasing a maisonette in Wapping. I have received an online quote from a licenced conveyancer, which states: "There will be no charge for dealing with the Building Society if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the Kent Reliance conveyancing panel. I wanted to make sure it means there will be no additional fees for dealing with the mortgage.
They are simply saying that the cost for acting for the lender is included in the fee being quoted. It is worth you checking that the Wapping conveyancing practitioner is on the Kent Reliance conveyancing panel.
Over the last few months I have been searching for a ground for flat up to £195,000 and identified one round the corner in Wapping I like with open areas and station nearby, the downside is that it's only got 51 years on the lease. There is not much else in Wapping for this price, so just wondered if I would be making a mistake acquiring a short lease?
If you need a mortgage the shortness of the lease may be a potential deal breaker. Reduce the price by the anticipated lease extension will cost if not already taken into account. If the current proprietor has owned the property for a minimum of twenty four months you could request that they commence the lease extension formalities and then assign it to you. You can add 90 years to the current lease and have £0 ground rent by law. You should speak to your conveyancing solicitor concerning this.
I have just started marketing my basement flat in Wapping. Conveyancing is yet to be initiated, but I have just had a half-yearly service charge invoice – Do I pay up?
It best that you clear the invoice as normal given that all ground rent and maintenance payments will be apportioned as part of the financial calculations for completion monies, so you should recover the relevant percentage by the purchaser for the period running from after the completion date to the subsequent invoice date. Most management companies will not acknowledge the buyer unless the service charges have been paid and are up to date, so it is important for both buyer and seller for the seller to show that they are up to date. Having a clear account will assist your cause and will leave you no worse off financially.
I have given up trying to purchase the freehold in Wapping. Can this matter be resolved via the Leasehold Valuation Tribunal?
Most definitely. We can put you in touch with a Wapping conveyancing firm who can help.
An example of a Freehold Enfranchisement case for a Wapping premises 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 number of years remaining on the existing lease(s) was 107 years.
My wife and I accepted an offer on a Wapping bungalow left to us six years ago in 2012. I have over a decades worth of conveyancing know-how and, now retired, intend to conduct my own legal work. The purchaser's lawyer has informed me that their building society will not allow us to do our own conveyancing requiring the funds to be released via a solicitor's bank account.
Lending instructions to conveyancers from all CML members specify that If the vendor does not have legal representation the purchaser’s lawyers should check whether the lender needs to be notified so that a decision can be reached if they are prepared to move forward.