Have just purchased a probate house at auction in Wapping. Conveyancing is needed. What are my next steps?

Now that you are legally bound yourself to purchase you should instruct a conveyancing practitioner as a matter of priority as you are facing a pending a fixed date to complete the purchase. An auction property will ordinarily have an associated auction set of papers. This will likely include most,if not all of the paperwork that your lawyer requires. Where you are dealing with leasehold premises the legal papers may contain a copy of the lease, management information and a sellers leasehold information form and other conveyancing paperwork specific to leasehold premises. You need to pass this on to your appointed conveyancing solicitor ASAP. Do make sure that you have funds in order to complete on the on the contractual date .

Does a directory service exist listing Bank of Ireland panel solicitors in Wapping on the UK Finance Lenders’ Handbook Website?

No. There is no such tool on the CML or Building Society Association sites. A small selection of mortgage companies make their panel listings visible online. If you are in need of a Wapping conveyancer on the Bank of Ireland please use our facility.

We have agreed to purchase a house in Wapping. A rare aspect is that the roof has a solar panel. TSB have issued a mortgage offer so presumably this is not a concern to them. Why is my solicitor raising questions about the panel?

Given that your lender is TSB your lawyer must follow the conveyancing requirements set out in Section 2 of UK Finance Lenders’ Handbook for TSB. The CML Handbook sets out minimum provisions for solar panel roof-space leases, and lawyers are required to report to TSB where a lease does not comply with these specifications. The provisions relate to the installation of panels on properties nationwide and is not limited to Wapping.

Just had an offer accepted on a new build apartment in Wapping. Conveyancing is daunting at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build legal work.

Here are examples of a few leasehold new build questions that you may expect your new-build leasehold conveyancing in Wapping

The Landlord must covenant to assume the management if the Management Company goes into liquidation or otherwise defaults in running the management scheme. Please confirm the Lease plans are architect prepared. Please supply a car parking plan. Where there is an Undertaking being granted there is the risk of forfeiture of the Headlease subject to relief if one or more of the Underlessees are willing to accept the original Head Lessee’s obligations as otherwise relief will be denied to the Underlessees. The only alternatives are the Head Lessor agreeing not to forfeit the Headlease or the Head Lessee guaranteeing to the Underlessees that it will not be in breach of the Headlease. Where service of notices and proceedings can be at the property demised please confirm that this can be amended to include simultaneous services at the Lessees’ solicitors’ offices where the Lessee from time to time is not resident in the UK - such solicitors may be varied by notice in writing to the Landlord from time to time but otherwise will be as previously specified.

I have been on the look out for a flat up to £245,000 and found one round the corner in Wapping I like with a park and transport links in the vicinity, the downside is that it's only got 49 remaining years left on the lease. I can't really find anything else in Wapping suitable, so just wondered if I would be making a mistake acquiring a lease with such few years left?

Should you need a mortgage the shortness of the lease may be problematic. Discount the offer 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 can ask them to start the process of the extension and pass it to you. An additional ninety years can be extended on to the current lease term with a zero ground rent applied. You should speak to your conveyancing lawyer regarding this.

I am looking at a two apartments in Wapping both have about 50 years unexpired on the leases. Will this present a problem?

There are plenty of short leases in Wapping. The lease is a right to use the premises for a prescribed time frame. As the lease gets shorter the marketability of the lease decreases and results in it becoming more costly to acquire a lease extension. This is why it is generally wise to increase the term of the lease. Sometimes it is difficulties arise selling premises with a short lease because mortgage lenders less inclined to grant a loan on such properties. Lease enfranchisement can be a difficult process. We recommend you seek professional assistance from a conveyancer and surveyor with experience in this area.

I own a ground floor flat in Wapping. In the absence of agreement between myself and the freeholder, can the Leasehold valuation Tribunal make a decision on the premium due for the purchase of the freehold?

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

An example of a Freehold Enfranchisement matter before the tribunal 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 remaining number of years on the lease was 107 years.

I have just had an offer accepted on a leasehold flat in Wapping and the mortgage adviser that we are dealing with suggested his solicitor. They quoted £900 including VAT and disbursements. Does this sound reasonable?

Don't just go on one estimate. One should obtain like-for-like quotes for your conveyancing in Wapping. Then select one that you are comfortable with and crucially, is on the approved list of the mortgage company that you have applied for a mortgage from.