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Find a Wapping Conveyancing Solictior on Your Lender’s Panel

Ready to buy a new home in Wapping? Failing to check that a lawyer is on your lender’s list of approved solicitors can put your Wapping home move at risk of delay or failure.

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Recently asked questions about conveyancing in Wapping

In what way does my ID and proof of funds have anything to do with my conveyancing in Wapping? Why is this being asked of me?

Anti-terror and anti-money-laundering regulations require solicitors and licensed conveyancers to verify the identity of the potential client they are dealing with prior to agreeing to accepting their conveyancing instruction. The Terms of Engagement that you need to sign will no doubt confirm this. Your lender will also require certain documents to be viewed. Should you refuse to provide identification documents, your lawyer will not be able to take you on as a client.

What happens if my solicitor is removed from the Kent Reliance Conveyancing panel ahead of completing my conveyancing in Wapping?

The first thing to point out is that, this is very unlikely to happen. In most cases even where a law firm is removed off of a panel the lender would allow the completion to go ahead as the lender would appreciate the difficulties that they would place you in if you have to instruct a new solicitor days before completion. In a worst case scenario where the lender insists that you instruct a new firm then it is possible for a very good lawyer to expedite the conveyancing albeit that you may pay a significant premium for this. The analogous situation is where a buyer instructs a lawyer, exchanges contracts and the law firm is shut down by a regulator such as the SRA. Again, in this situation you can find lawyers who can troubleshoot their way to bring the conveyancing to a satisfactory conclusion - albeit at a cost.

I'm the only recipient of my late father’s will and I have everything in my name now, including the house in Wapping. The Wapping property was put into my name in February. I want to move. I understand that there is a CML 6 month 'rule', which means that my property ownership will be treated the same way as though I had purchased the house in February. Do I have to wait half a year to sell?

The Council of Mortgage Lenders’ handbook instructs conveyancers to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." Technically you could be impacted by that. How sensible a view lenders take of it, depend on the lender as this clause is principally there to capture the purchase and immediately sell or the wholesaling and assigning of properties.

Can you point me to a directory of Coventry BS panel solicitors 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. A small selection of mortgage companies make their panel listings viewable over the internet. If you are looking for a Wapping lawyer on the Coventry BS please use our facility.

Is it the case that all Wapping solicitor firms on the Clydesdale conveyancing panel are regulated by the SRA?

As solicitors, in order to be on the Clydesdale approved list of solicitors they would need to be governed by the SRA. The majority of mortgage companies do allow licenced conveyancers on their panel and in that case the organisation would be overseen by the Council of Licensed Conveyancers.

Over the last few months I have been searching for a leasehold apartment up to £305k and identified one close by in Wapping I like with amenity areas and transport links nearby, the downside is that it only has 61 years on the lease. I can't really find anything else in Wapping suitable, so just wondered if I would be making a grave error purchasing a lease with such few years left?

Should you need a mortgage the remaining unexpired lease term may be an issue. Discount the price by the anticipated lease extension will cost if it has not already been discounted. If the current owner has owned the premises for a minimum of twenty four months you could ask them to start the process of the extension and then assign it to you. An additional ninety years can be extended on to the existing lease and have £0 ground rent by law. You should consult your conveyancing lawyer concerning this matter.

Last November I purchased a leasehold flat in Wapping. Do I have any liability for service charges relating to a period prior to completion of my purchase?

In a situation where the service charge has already been demanded from the previous lessee and they have not paid you would not usually be personally liable for the arrears. Strange as it may seem, your landlord may still be able to take action to forfeit the lease. A critical element of leasehold conveyancing for your conveyancer to be sure 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).

Following months of negotiations we cannot 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?

in cases where there is a absentee landlord or where there is disagreement about the premium for a lease extension, under the relevant statutes you can apply to the First-tier Tribunal (Property Chamber) to calculate the amount due.

An example of a Freehold Enfranchisement matter before the tribunal 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 was in relation to 41 flats. The unexpired residue of the current lease was 107 years.

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