The Wapping conveyancing firm handling our Wapping conveyancing has uncovered a difference when comparing the surveyor’s assumptions in the home valuation survey and what is in the legal papers for the property. My solicitor informs me that he is obliged to check that the bank is OK with this discrepancy and is content to go ahead. Is my conveyancer’s stance right?
Your conveyancing practitioner must comply with the UK Finance Lenders’ Handbook specifications which do require that your lawyer disclose any incorrect assumptions in the lender’s valuation report and the legal papers. Should you refuse to allow your lawyer to make the appropriate notification then your lawyer will have no choice but to discontinue acting for both parties.
I am buying a terraced house in Wapping. Conveyancing solicitors are said to be ‘a necessary evil’ but can I do it myself?
Leaving aside the complexities and merits of DIY conveyancing in Wapping you will have to appoint a solicitor on your mortgage company's conveyancing panel to look after their interests. Most people therefore find it easier to let the solicitor act for them and the lender. Furthermore there is minimal cost savings to be made in you doing conveyancing for yourself and another lawyer conducting the conveyancing for the lender. Please feel free to use the search tool to find a lawyer on your lender panel in Wapping.
There are numerous conveyancing solicitors in Wapping but how do I know who I should use?
We would encourage you not to go for the lowest Wapping conveyancing fees. You really do get what you pay for when it comes to conveyancing solicitors. A cheap quote may mean that the conveyancing solicitor is handling a lot of jobs at one time and you won’t get the quality of service and the attention that you need. It is, however, wise to use a conveyancer who has a fixed fee on a no sale, no fee basis. This way, you go into the conveyancing with your eyes wide open.
I am aiming to move property in April. Will my conveyancing solicitor call the removal company on the completion day. Incidentally, can you recommend a removal company in Wapping. Conveyancing solicitor was organised prior to coming across your website.
On the afternoon of completion you can collect the keys from the estate agent however this should only occur after the vendors solicitors advise the agent that they acknowledge receipt of the completion payment and the keys can be passed over. Subsequently you can inform the removal company that you are ready to move in. As a matter of policy we do not suggest a specific removal company but can assist you in finding a conveyancing in Wapping or a solicitor with expertise in conveyancing in Wapping.
The formalities of my purchase has taken place for my property in Wapping. Conveyancing was a necessary evil but I would like to complain about the lender. How does one go about formally complaining?
All lenders have complaints procedures. Your first port of call should be one of the lender’s branches or the Customer Care Department at head office. In most cases complaints to a lender are resolved effectively and efficiently. If you feel the matter is not resolved you can write to Financial Ombudsman Service who will take matters further.
I've recently found out that there is a flying freehold issue on a property I put an offer in a fortnight ago in what should have been a quick, no chain conveyancing. Wapping is where the house is located. What do you suggest?
Flying freeholds in Wapping are rare but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Wapping you must be sure that your lawyer goes through the deeds thoroughly. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Wapping may ascertain that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold residence.
Is it simple use your search facility to locate a conveyancing practitioner in Wapping on the panel for my lender?
1st choose a bank such as Halifax, Virgin Money or Nottingham Building Society then specify your location such as Wapping. Conveyancing organisations in Wapping and nationally will then be identified.
I've recently bought a leasehold house in Wapping. Am I liable to pay service charges relating to a period prior to my ownership?
In a situation where the service charge has already been demanded from the previous owner and they have not paid you would not usually be personally liable for the arrears. However, your landlord may still be able to take action to forfeit the lease. A critical element of leasehold conveyancing for your conveyancer to ensure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.
If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).
I have given up trying to purchase the freehold in Wapping. Can the Leasehold Valuation Tribunal adjudicate on premiums?
if there is a missing freeholder or where there is dispute about what the lease extension should cost, under the relevant legislation it is possible to make an application to the First-tier Tribunal (Property Chamber) to arrive at the price payable.
An example of a Freehold Enfranchisement case 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 was in relation to 41 flats. The remaining number of years on the lease was 107 years.