IfI were to acquire a straightforward homein Lower Morden for cash and dispense with a survey and no local authority searches how much would I expect to to save on my conveyancing in Lower Morden?
The sole saving you would achieve is the Lower Morden conveyancing searches. The lawyer is required to do the vast majority of work - money laundering, correspond with the vendors conveyancing practitioner, SDLT return, register the property etc. You might save a bit for them not needing to register a charge but it will not be meaningful.
Can I use your services to find a Conveyancing solicitor in Lower Morden even if I’m not buying or selling a house, for example if I wish to acquire a shop in Lower Morden with a loan from The Mortgage Works?
Our comparison service is predominantly utilised to locate domestic conveyancing solicitors in Lower Morden but we have listed at the bottom of this page a selection of Lower Morden commercial conveyancing firms. You will need to make contact with the company directly to see if they can also act for The Mortgage Works
My stepmother advised me that in purchasing a property in Lower Morden there may be a number of restrictions as to what one can do in terms of external changes to the property. Is this right?
There are anumerous of properties in Lower Morden which have some sort of restriction or requirement of consent to external variations. Part of the conveyancing in Lower Morden should determine what restrictions are applicable and advising you as part of a ROT that should be sent to you.
I can not work out if my lender obliges me to make sure the lease term for the flat is extended prior to the completion date. I have telephoned my Lower Morden building society branch on numerous occasions and was told it wasn't an issue and they will lend. My Lower Morden conveyancing solicitor - who is on the mortgage company conveyancing panel- telephoned to say that they would not lend based on their UK Finance Lenders’ Handbook minimum lease term requirements. Who do I believe?
The conveyancer has to follow the Council of Mortgage Lenders’ Handbook Part 2 provisions for your lender. Unless your lawyer obtains specific confirmation in writing that the bank will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the lender to contact your lawyer in writing confirming that they will accept the number of years remaining.
I have finally had an offer on a flat in Lower Morden accepted, the sellers do nevertheless have an associated purchase. The sellers have put an offer on a flat, however it’s not yet agreed to, and have viewings of other flats booked. I have instructed a high street conveyancing solicitor in Lower Morden. What should be my next step? When should I get the mortgage application with Lloyds going?
It is normal to have apprehensions where there is a chain as you are unlikely to want to be too out of pocket too early (home loan application is in the region of £1k, then survey, Lower Morden conveyancing search costs, etc). First, you must ensure that your lawyer is on the Lloyds conveyancing panel. Concerning the next phase this very much depends on the specifics of your transaction, desire for the property and on the state of the market. During a buoyant market the majority of home buyers would apply for the mortgage with Lloyds and pay for the valuation and only if it was satisfactory would they ask their solicitor to proceed with the conveyancing in Lower Morden.
2 months have elapsed since my purchase conveyancing in Lower Morden completed. I have checked the Land Registry site which shows that I paid £200,000 when infact I paid £170,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the property from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
I'm purchasing a new build house in Lower Morden with the aid of help to buy. The builders refused to reduce the amount so I negotiated £7000 of fixtures and fittings instead. The house builders rep advised me not inform my solicitor about this side-deal as it could put at risk my loan with the bank. Should I keep quiet?.
All lenders require a Disclosure of Incentives Form from the developer of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
I have just started marketing my 2 bed flat in Lower Morden. Conveyancing solicitors are to be appointed soon, but I have just received a yearly service charge demand – should I leave it to the buyer to sort out?
The sensible thing to do is clear the service charge as normal as all ground rent and maintenance payments will be allotted as part of the financial calculations for completion monies, so you will be reimbursed by the purchaser for the period running from after the completion date to the next payment date. Most managing agents will not acknowledge the buyer until the service charges have been paid and are up to date, so it is important for both buyer and seller for the seller to show that they are up to date. This will smooth the conveyancing process.
I have tried to negotiate informally with with my landlord for a lease extension without any joy. Can one apply to the Leasehold Valuation Tribunal? Can you recommend a Lower Morden conveyancing firm to assist?
if there is a absentee freeholder or if there is disagreement about the premium for a lease extension, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the Leasehold Valuation Tribunal to decide the price.
An example of a Lease Extension case for a Lower Morden property is 33 The Maisonettes Alberta Avenue in June 2014. the Tribunal decided that the premium payable for the grant of a new lease be the sum of £20,680 (Twenty Thousand six hundred and eighty pounds). This case related to 1 flat. The unexpired residue of the current lease was 60.43 years.