My partner and I are buying a new build apartment in Merton and my solicitor is advising me that she has to the mortgage company to reveal incentives from the developer. I am under pressure to exchange contracts and my preference is not to prolong deal. Is my lawyer right?
You should not exchange unless you have been advised to do so by your solicitor. A precondition to being on a bank panel is to comply with the UK Finance Lenders’ Handbook conditions. The CML Conveyancing Handbook requires that your lawyer have the appropriate Disclosure of Incentive form completed by the developer and accepted by your lender.
Our bank has recommended a law firm on their panel based in Merton but I would rather use a conveyancing lawyer in Merton or nearer to where I live. Can you help?
Far from all Merton conveyancing solicitors are approved and listed on all banks conveyancing panel. Use the above find an approved solicitor tool to find a Merton conveyancing conveyancer on the on the mortgage company panel.
My colleague recommended that where I am purchasing in Merton I should carry out a Neighbourhood, Planning and Local Amenity Search. What does it cover?
A search of this type is usually included in the estimate for your Merton conveyancing searches. It is not a small report of about 40 pages, listing and setting out important information about Merton around the property and the people living there. It incorporates an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the local Housing Market, Council Tax Banding, the demographics of People living in the area, the dominant type of Housing, the Average House Prices, Crime details, Merton Education with maps and statistics, Local Amenities and other useful information about Merton.
I am buying a new build flat in Merton. Conveyancing is a frightening process 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 enquiries that you should expect your new-build leasehold conveyancing in Merton
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The Landlord must covenant to assume the management if the Management Company goes into liquidation or otherwise defaults in running the management scheme. Has the Lease plan been approved by the Land Registry and if not when will they be lodged for this purpose? Please confirm the Lease plans are architect prepared. Please supply evidence that the form of Lease proposed has been approved by the Land Registry. 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 am downsizing from my house. My previous conveyancers have shut. I would be grateful for any recommendation of a conveyancing firm. Im based in Merton if that makes things easier.
Do use our search tool to help you find a solicitor for your conveyancing in Merton. We have connected thousands of home buyers and sellers with lender approved solicitors to ensure that the legalities of their house move goes with a minimum of fuss.
My wife and I may need to rent out our Merton basement flat for a while due to taking a sabbatical. We used a Merton conveyancing firm in 2001 but they have since shut and we did not have the foresight to seek any advice as to whether the lease prohibits the subletting of the flat. How do we find out?
Your lease governs relations between the freeholder and you the flat owner; in particular, it will set out if subletting is prohibited, or permitted but only subject to certain caveats. The rule is that if the lease contains no specific ban or restriction, subletting is permitted. The majority of leases in Merton do not prevent an absolute prevention of subletting – such a clause would undoubtedly devalue the flat. In most cases there is a basic requirement that the owner notifies the freeholder, possibly supplying a copy of the sublease.
I own a 2 bed flat in Merton, conveyancing was carried out in 1998. How much will my lease extension cost? Comparable flats in Merton with over 90 years remaining are worth £216,000. The average or mid-range amount of ground rent is £50 charged once a year. The lease ends on 21st October 2093
With 69 years remaining on your lease the likely cost is going to be between £9,500 and £11,000 plus legals.
The figure that we have given is a general guide to costs for extending a lease, but we cannot give you a more accurate figure without more comprehensive due diligence. Do not use the figures in a Notice of Claim or as an informal offer. There may be additional concerns that need to be considered and clearly you want to be as accurate as possible in your negotiations. Please do not move forward based on this information without first getting professional advice.