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Conveyancing in Canary Wharf Q & A's

Profile photo of Lorraine Imhoff

By

Ask Lorraine a question lorraine@homewardlegal.co.uk

Updated: 17/10/17

Canary Wharf area information

Trinity Buoy Wharf Lighthouse, Blackheath Old Dover Rd Library Art Gallery and Tate Modern Art Gallery are easily accessible from Canary Wharf.

Drivers are well catered for with Canary Wharf ideally situated with very good major road access very close at within 1m of the A102M.

Canary Wharf's nearest train station is Limehouse. Canary Wharf's nearest airport is London City Airport (3 miles). Heathrow Terminals 1 2 3 Airport is 19 miles, London Heliport Airport is 8 miles, Heathrow Terminal 5 Airport is 21 mile s, Gatwick South Terminal Airport is 25 miles, Gatwick North Terminal Airport is 25 miles, Heathrow Terminal 4 Airport is 19 miles, Northolt Jet Centre Airport is 17 miles, Elstree Airport is 17 miles and London Biggin Hill Airport is 13 miles away.

The most convenient hospital to Canary Wharf is London Independent Stepney.

Q.

I am looking for fixed rate Canary Wharf conveyancing. Will I get a quote or and estimate?

A.

Several solicitors purport to offer supposedly cheap conveyancing, however extra fees may be added into the solicitor's terms of engagement. Excited buyers, eager to get underway, often ignore this small print when they instruct. Extras should be fair. Our quotes clearly state all legal fees for a standard conveyancing transaction.

Q.

Will we need a survey for our property purchase?

A.

It is firmly advised that purchasers arrange a survey. It is a fact that there are many defects that can affect a property, that a solicitor will be unable to address, which include roof damage.

Q.

Can you advise how I get out of paying stamp duty in Canary Wharf?

A.

Stamp Duty Land Tax (SDLT) is generally payable for homes sold for over 125,000 pounds. Stamp duty mitigation scheme is not advised. These schemes are costly and the

HMRC can review a scheme up to 6 years after a sale is completed meaning that the full stamp duty amount will be payable.

Q.

Is it insensible to carry out the conveyancing on a DIY basis ourselves.

A.

There is no argument why a home mover cant go down that route and reasonably take care of the legal work without Canary Wharf solicitor. That said, a conveyancing solicitor typically handles a huge array of activities such as approving contract or ensuring warranties are transferable which require a qualified professional. Fundamentally amateur lawyers do not have relevant insurance which qualified legal firms always obtain.

Q.

What type of conveyancing searches in respect to the risk of local flooding in the Tower Hamlets region will my Canary Wharf solicitor actually do?

A.

A conveyancer applies for environmental searches that incorporate Canary Wharf flood risk area data. A significantly more detailed flood search, such as the Landmark search, could be proposed by a qualified property solicitor in Canary Wharf if in the event that the environmental search suggest a flood risk.

Q.

How is Canary Wharf contaminated land identified when buying a house?

A.

Residential property in Canary Wharf will be contaminated by a range of factors caused by man and by nature, and an environmental search should reveal if a house is affected by local contaminants like potentially contaminative use of nearby land.

Q.

Do we need a chancel search when we are purchasing in Canary Wharf?

A.

In Canary Wharf, where land was once owned by a lay rectors, new owners of that property may be obliged to cover the cost of maintenance of a medieval church. Indemnity policies can be arranged if chancel liability is likely to be enforced. The solicitor carrying out the legal work for your move will confirm that a chancel search is appropriate.

Q.

What will our searches be?

A.

With a Homeward Legal solicitor, clients buying a property expected to pay at a maximum £249 for the standard search bundle. Searches are paid to a third party, and will not be included in a solicitor's fees.