Why do I have to pay up front for my conveyancing in Limehouse?

Where you are retaining lawyers for conveyancing in Limehouse your lawyer will request that you to provide them with funds to cover the search fees. This will be the total of the cost of the conveyancing searches. If any deposit is payable against the purchase price then this should be needed shortly before contracts are exchanged. The closing balance that is due should be transferred a few days prior to the completion date.

There are numerous conveyancing solicitors in Limehouse but how do I know who I should use?

Do not opt for the cheapest Limehouse conveyancing quote. 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 know exactly what you’ll have to pay in ahead of the deal.

This question may be naive but I am unseasoned as FTB of a two bedroom flat in Limehouse. Do I collect the keys to the property on completion from my conveyancer? If so, I will instruct a High Street conveyancing solicitor in Limehouse?

On the day of completion you do not need to attend the conveyancers office in Limehouse. Your solicitors will electronically transfer the completion advance to the owner’s solicitors, and once they have received this, you should be invited to pick up the keys from the Estate Agents and move into your new home. This tends to happen early afternoon.

The mortgage over my property is with Lloyds for my property in Limehouse. Conveyancing was finalised a year ago. In the event that I decide to rent out the flat and do not currently have a buy-to-let mortgage do I need to remortgage to a buy-to-let mortgage or inform Lloyds?

Your original mortgage agreement with Lloyds will provide that you need their approval in advance of renting your property as this is likely to be a breach of Lloyds’s mortgage conditions. It may be that Lloyds will permit you to let out your former home without needing to switch to a buy-to-let mortgage but some lenders will add a surcharge to your mortgage rate to reflect the higher risk. You should contact Lloyds directly. It should not be necessary to do this via a Lloyds conveyancing panel firm.

Should my lawyer be asking questions regarding flooding during the conveyancing in Limehouse.

Flooding is a growing risk for conveyancers carrying out conveyancing in Limehouse. There are those who acquire a property in Limehouse, fully expectant that at some time, it may suffer from flooding. However, aside from the physical damage, if a house is at risk of flooding, it may be difficult to obtain a mortgage, suitable insurance cover, or dispose of the premises. There are steps that can be taken during the course of a house purchase to forewarn the buyer.

Conveyancers are not best placed to impart advice on flood risk, but there are a number of checks that can be undertaken by the purchaser or by their lawyers which can give them a better appreciation of the risks in Limehouse. The conventional set of property information forms sent to a purchaser’s solicitor (where the solicitors are adopting what is known as the Conveyancing Protocol) incorporates a usual question of the vendor to find out if the premises has suffered from flooding. If flooding has previously occurred which is not disclosed by the owner, then a buyer could issue a legal claim for losses stemming from an inaccurate reply. The purchaser’s conveyancers may also conduct an environmental report. This will reveal if there is a recorded flood risk. If so, additional inquiries will need to be initiated.

I am looking for a flat up to £245,000 and found one round the corner in Limehouse I like with open areas and station in the vicinity, however it's only got 61 years unexpired on the lease. There is not much else in Limehouse for this price, so just wondered if I would be making a mistake purchasing a short lease?

Should you require a mortgage that many years will likely be problematic. Reduce the price by the expected lease extension will cost if not already taken into account. If the existing owner has owned the property for a minimum of twenty four months you could ask them to commence the lease extension formalities and pass it to you. An additional ninety years can be extended on to the existing lease with a zero ground rent applied. You should consult your conveyancing solicitor regarding this.

I need to find a lender panel solicitor in Limehouse. Can you assist?

Unfortunately it’s not apparent why you need a Limehouse panel solicitor but in any event, if you can not find one on our search tool you will need to speak directly to the bank to find out which solicitors in Limehouse are on their panel . If you do find such a firm in Limehouse not listed please direct them to our site to list. At a fee of one pound per month it is not expensive to register on the site