I am buying a house without a mortgage in Merton. I have been living for the previous twelve years in Merton. Conveyancing searches are exorbitant. As I have knowledge of the road and vicinity very well should I not bother getting the solicitor to do all the conveyancing searches?
Provided that you do not need a mortgage, then the vast majority of the Merton conveyancing searches are non-obligatory. Your conveyancer will 'advise', perhaps strongly, that you should have searches completed, but she is duty bound to take that path of encouragement . Do bear in mind; if you are intend to sell the house at a future date, it could be of relevance to your future purchaser what the searches determine. There are plenty of instances where properties with day to day issues can still show up unpredicted search results. A good conveyancing solicitor in Merton should provide you some practical advice in this regard.
Why do I have to pay up front for my conveyancing in Merton?
If you are buying a property in Merton your solicitor will request that you to provide them with monies to cover the search fees. Ordinarily this is needed to cover the fees of the Local Authority Search. If any down payment is as part of the purchase price then this should be asked for shortly in advance of exchange of contracts. The closing balance that is needed should be transferred shortly before completion.
I have just over seventy years unexpired on my lease and require a lease extension for my apartment in Merton. Conveyancing solicitors on the Tesco Bank panel can deal with such extensions correct?
Most leasehold conveyancing experts should be able to deal with a lease extension. if you are getting a mortgage then your lender may insist that the lease be extended before competition. Tesco Bank have specific requirements as set out in the UK Finance Lenders’ Handbook in relation to minimum unexpired lease terms. As of 19/4/2024 the requirements read as follows :
Despite weeks of looking the Title Certificate and documents to our property are lost. The solicitors who conducted the conveyancing in Merton 10 years ago have long since closed. Will I be able to sell the house?
These day there are duplicates made of almost everything, and your solicitor will be aware exactly where to locate all the relevant documentation so you may purchase or dispose of your house without any difficulty. Where copies are not available, your lawyer can arrange cover in the form of insurance or indemnities against future claims on the property.
The estate agent has sent us the confirmation of our purchase of a new build apartment in Merton. Conveyancing is daunting at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build legal work.
Here is a sample of a selection of leasehold new build questions that you should expect your new-build leasehold conveyancing in Merton
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Will control of the Management Company (if any) be handed over to purchasers on completion of the last sale or earlier? There must be mutual enforceability of lessee’s covenants. The Landlord must covenant to assume the management if the Management Company goes into liquidation or otherwise defaults in running the management scheme. Investor purchasers must be able to freely grant unsecured tenancies at market rents without requiring any consents. If there are lifts in the building, please confirm that the owners of flats on the ground and basement floors will not be required to contribute towards the cost of maintenance and renewal.
Yesterday I discovered that there is a flying freehold element on a house I put an offer in a fortnight ago in what should have been a simple, chain free conveyancing. Merton is the location of the property. Can you shed any light on this issue?
Flying freeholds in Merton are unusual but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Merton you must be sure that your lawyer goes through the deeds thoroughly. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Merton may determine that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold residence.