The Merton Park conveyancing firm handling our Merton Park conveyancing has discovered a discrepancy between the surveyor’s assumptions in the valuation report and what is revealed within the conveyancing documents. My lawyer has advised that he needs to ensure that the lender is OK with this discrepancy and is content to go ahead. Is my conveyancer’s approach correct?
Your conveyancer must comply with the UK Finance Lenders’ Handbook specifications which do require that your lawyer disclose any incorrect assumptions in the lender’s valuation report and the legal papers. Should you refuse to allow your lawyer to make the appropriate notification then your lawyer will have no choice but to discontinue acting for you.
Me and my partner are purchasing a flat in Merton Park. It might be a silly question but how we can trust a conveyancer? On the day of competition we will need to deposit money into their account. What protection do we have from them run away with our money?
Be assured that all money in a Solicitors client account is 100% safe, and even if your Solicitor ran off with it, the Law Society would reimburse you fully.
Intending to buy a apartment in Merton Park. I have received an online quote from a licenced conveyancer, which states: "There will be no charge for dealing with the Building Society if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the Co-operative conveyancing panel. I wanted to make sure it means there will be no additional fees for dealing with the mortgage.
They are simply saying that the cost for acting for the lender is included in the fee being quoted. It is worth you checking that the Merton Park solicitor is on the Co-operative conveyancing panel.
TSB have agreed my home loan in principle, my offer on a flat in Merton Park has been accepted, what happens next?
The property agent will want to know who your solicitors are (make sure the lawyers are on the bank’s approved list). Call up TSB or the financial adviser and finish off any appropriate paperwork. TSB will instruct a valuer who will get in contact with the estate agent or vendor to arrange an appointment. Once conducted (assuming no problems) it takes about ten days to receive the mortgage offer. TSB will send the offer to you and your conveyancing practitioners. The legal work will then take it’s course according the nature and complexity of the conveyancing in Merton Park.
I purchased a terraced Georgian property in Merton Park. Conveyancing practitioner acted for me and Accord Mortgages Ltd. I did a free Land Registry search last week and there are two entries: the first freehold, another for leasehold under the matching property. If a house is not a freehold shouldn't I have been informed?
You need to assess the Freehold register you have again and check the Charges Register as there may be mention of a lease. The best way to be sure that you are also the registered owner of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Merton Park and other locations in the country and poses no real issues for owners other than when they mortgage they have to account for both freehold and leasehold interests when dealing with buyers. You can also check the situation with the conveyancing solicitor who conducted the conveyancing.
How does conveyancing in Merton Park differ for new build properties?
Most buyers of new build property in Merton Park come to us having been asked by the seller to exchange contracts and commit to the purchase even before the property is constructed. This is because developers in Merton Park usually buy the land, 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 property lawyers 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 Merton Park or who has acted in the same development.
Is there anything unique about your site and alternative web based conveyancing solicitors when it comes to conveyancing in Merton Park?
At this site obtain an accurate quote via a Solicitor or Licensed Conveyancer that understands the nuances of your conveyancing in Merton Park. As opposed to estate agents and brokerage sites we do not have kick-back arrangements with solicitors. Some agents and online brokers 'recommend' solicitors who pay the most per referral, not the best value conveyancing in Merton Park
Estate agents have just been given the go-ahead to market my ground floor flat in Merton Park. Conveyancing is yet to be initiated, but I have just had a yearly maintenance charge invoice – what should I do?
Your conveyancing lawyer is likely to suggest that you should pay the invoice as normal given that all rents and service charges will be allotted on completion, so you should recover the relevant percentage by the buyer for the period running from after the completion date to the next payment date. Most management companies will not acknowledge the buyer unless 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. Having a clear account will assist your cause and will leave you no worse off financially.
We have reached the end of our tether in trying to purchase the freehold in Merton Park. Can the Leasehold Valuation Tribunal adjudicate on premiums?
in cases where there is a absentee freeholder or if there is dispute about the premium for a lease extension, under the relevant statutes you can apply to the Leasehold Valuation Tribunal to judgment on the price.
An example of a Lease Extension case for a Merton Park residence is 14 Nutwell Street in January 2014. The premium payable for the acquisition of a new lease of the subject premises was in the sum of £30,523 This case was in relation to 1 flat. The unexpired residue of the current lease was 62.94 years.