My lawyer has discovered a defect with the lease for the flat we are buying in New Malden. The other side have offered title insurance as a workaround. We are happy with insurance and will cover the costs. Our solicitor says that he must check that the mortgage company is content with this solution. Who is the client here, us or the mortgage company ?
Notwithstanding that you have a mortgage offer from the lender does not mean to say that the property will meet their provisions for the purposes of a mortgage. Your lawyer has to ensure that the lease has to comply with the UK Finance Lenders’ Handbook requirements. You and the lender are the client. These conveyancing instructions have to be complied with.
I have justbecome aware that Action Conveyancing have been shut down. They carried out my conveyancing in New Malden for a purchase of a leasehold flat 18 months ago. How can I check that my home is in my name in the name of the former proprietor?
The easiest method to see if the premises is in your name, you can make a search of the land registry (£3.00). You can either do this yourself or ask a law firm to do this for you. If you are not registered you can seek help from one of a number of New Malden conveyancing specialists.
How does conveyancing in New Malden differ for newly converted properties?
Most buyers of new build property in New Malden contact us having been asked by the seller to exchange contracts and commit to the purchase even before the property is completed. This is because house builders in New Malden typically acquire the site, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are accustomed to new build conveyancing in New Malden or who has acted in the same development.
I opted to have a survey done on a house in New Malden ahead of appointing conveyancers. I have been informed that there is a flying freehold element to the property. Our surveyor advised that some lenders may refuse to issue a loan on a flying freehold house.
It depends who your proposed lender is. HSBC has different requirements from Nationwide. If you e-mail us we can investigate further with the relevant bank. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in New Malden. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in New Malden to see if the conveyancing will be more expensive.
I've recently bought a leasehold house in New Malden. Do I have any liability for service charges for periods before completion of my purchase?
In a situation where the service charge has already been demanded from the previous owner and they have not paid you would not usually be personally liable for the arrears. However, 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).
I have tried to negotiate informally with with my landlord to extend my lease without getting anywhere. Can the Leasehold Valuation Tribunal adjudicate on such issues? Can you recommend a New Malden conveyancing firm to represent me?
Where there is a absentee freeholder or where there is disagreement about the premium for a lease extension, under the Leasehold Reform, Housing and Urban Development Act 1993 it is possible to make an application to the First-tier Tribunal (Property Chamber) to judgment on the amount due.
An example of a Lease Extension matter before the tribunal for a New Malden residence is Flat D 15 Claremont Gardens in September 2013. TheTribunal determined in accordance with section48 and Schedule13 of the Leasehold Reform,Housing and Urban Development Act 1993 that the premium for the extended lease should be fourteen thousand one hundred and eighty seven pounds (£14,187.00) This case affected 1 flat.
I have recently placed an offer on an apartment in New Malden and the estate agent that we are dealing with suggested his conveyancing practitioner. They quoted £1000 including VAT and disbursements. Does this sound like a good deal?
Don't just go on 1 estimate. You should obtain like-for-like quotes for your conveyancing in New Malden. Then choose one that you trust and just as important, is on the approved list of the bank that you are sourcing your mortgage from.