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Recently asked questions about conveyancing in Wapping

Having been told to check out your company we were going to go ahead with a conveyancing solicitor in Wapping found by you but have come across some other fee calculations via the web appear less expensive – why is this?

One can find numerous conveyancing organisations offering at first sight what seems to be very low prices. You should think twice as to how important this transaction is to you that want to take 'cheap' risks concerning the standard of the conveyancing. Some hide fees deep into the terms of business. The conveyancers that we put forward for conveyancing in Wapping will notbehave this way.

We are only a couple days away from an exchange on a flat in Wapping and my mum and dad have sent the 10% deposit to my conveyancing practitioner. I am now advised that as the deposit has not arrived from me my solicitor needs to make a notification to my lender. Apparently, in also acting for the lender he must advise them that the balance of the purchase price is coming from anyone other than me. I advised the lender regarding my parents' contribution when I applied for the mortgage, so is it really necessary for him to raise this?

The lawyer is obliged to check with lender to make sure that they know that the balance of the purchase price is not from your own funds. Your solicitor can only reveal this to your lender if you permit them to, failing which, your lawyer must cease to continue acting.

Yesterday I discovered that there is a flying freehold issue on a house I have offered on a fortnight ago in what was supposed to be a simple, 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 premises.

I am on look out for some leasehold conveyancing in Wapping. Before I set the wheels in motion I would like to find out the number of years remaining on the lease.

Assuming the lease is registered - and almost all are in Wapping - then the leasehold title will always include the basic details of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title. For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.

We have reached the end of our tether in trying to purchase the freehold in Wapping. Can the Leasehold Valuation Tribunal adjudicate on premiums?

Absolutely. We can put you in touch with a Wapping conveyancing firm who can help.

An example of a Freehold Enfranchisement decision 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 affected 41 flats. The unexpired lease term was 107 years.

What could I expect to pay for conveyancing in Wapping?

The amount you are charged for conveyancing in Wapping are likely to be calculated at:

  1. a set cost; or
  2. on a time spent basis (i.e. the time spent on the particular case).

In practice very few Wapping conveyancing solicitors charge on an hourly basis

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Find out more about how flying freehold can affect your the value of a property.