Me and my fiance are buying a 1 bedroom apartment in Wapping with a mortgage. We wish to retain our Wapping solicitor, but the lender advise he's not on their "panel". We have to appoint one of the lender panel firms or retain our Wapping conveyancing practitioner and pay for one of their panel firms to represent them. This seems very unfair; is there anything we can do?
No, not really. The mortgage offered to you is subject to its terms and conditions, one of which will be that lawyers will on the bank’s conveyancing panel. Until recently, most lenders 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. A further alternative is for your Wapping conveyancing lawyer to apply to be on the conveyancing panel.
We were just about to exchange contracts for a garden flat in Wapping. We have hit a problem. Our loan offer with Nationwide Building Society runs out on 23/7/2026 but the sellers are suggesting a completion date of 27/7/2026. Is it possible to prolong the mortgage expiry date?
The person best placed to deal with your concern is your conveyancer who will hopefully assess whether he or she is better off negotiating with the lender, owner’s conveyancers, estate agents or indeed all three based on the circumstances your conveyancing to date.
Is it correct that all Wapping CQS (Conveyancing Quality Scheme) solicitors are on the Co-operative conveyancing list of approved practices?
It is true that some banks and building societies now use CQS as the starting point for Panel approval such as HSBC and Santander. CQS accreditation however gives no guarantee to lender panel acceptance. That being said,the Council of Mortgage Lenders have indicated that it is likely to become a pre-requisite for solicitors wishing to join their approved list of firms.
When it comes to mortgage companies such as Skipton, do Wapping conveyancing practitioners face a yearly amount to be on the conveyancing panel?
We are not aware of any bank fees to register on their list of approved firms, although some do charge an administration fee to deal with the processing of the conveyancing panel submission.
Can you point me to a directory of Yorkshire BS panel conveyancers in Wapping on the Building Society Association’s Website?
No. There is no such facility on the Council of Mortgage Lenders or Building Society Association sites. A small selection of mortgage companies make their panel listings viewable over the internet. Where you are looking for a Wapping property lawyer on the Yorkshire BS please make the most of our tool.
I'm purchasing my first flat in Wapping with a loan from Santander. The sellers would not reduce the amount so I negotiated 6k of extras instead. The property agent told me not reveal to my lawyer about the side-deal as it could jeopardize my loan with Santander. Is this normal?.
All lenders require a Disclosure of Incentives Form from the builder of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
I have been on the look out for a flat up to £245,000 and found one close by in Wapping I like with open areas and transport links nearby, the downside is that it's only got 52 years unexpired 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 short lease?
If you need a mortgage that many years will likely be problematic. Reduce the offer by the expected lease extension will cost if not already taken into account. If the existing proprietor has owned the premises for a minimum of 2 years you can ask them to commence the lease extension formalities and then assign it to you. You can add 90 years to the current lease term and have £0 ground rent by law. You should speak to your conveyancing solicitor regarding this matter.
Is it best to appoint a Wapping conveyancing solicitor in close proximity to the house I am buying? An old friend can deal with the conveyancing but her office is 400kilometers away.
The benefit of a local Wapping conveyancing firm is that you can drop in to sign documents, present your ID and pester them if necessary. Having local Wapping know how is a benefit. However nothing is more important than finding someone that will do a good and efficient job. If if people you trust used your friend and they were happy that should outweigh using an unknown Wapping conveyancing solicitor solely due to them being based in the area.