We chose a local lawyer for our conveyancing in Morden last week. Going through the Terms and Conditions I seeI am on the hook for costs even if the movedoes not happen. Would I be best advised to instruct a web based conveyancing brokerage who offer no-sale-no-fee conveyancing in Morden?
It is usually a trade off in that if "No Sale No Fee" is available then the conveyancing charges will tend to be be higher to cover those transactions that do not proceed. Also remember that these promotions tend not to protect you from expenditure e.g. Morden conveyancing search costs.
We have very pushy sellers who has recommended a lock out agreement with a non-refundable deposit 6,000. Are such contracts generally advanced for Morden conveyancing transactions?
There are a couple of primary drawbacks with signing a lock out contract (sometimes referred to as an exclusivity agreement) is that it takes away the focus from progressing with the conveyancing work, so unless it requires minimal or no negotiation then it could turn out to be a cause of frustration and delay. It is not particularly popular by Morden conveyancing lawyers for this reason. The other main negative is the extent of the remedies available - a jilted purchaser is extremely unlikely to secure an injunctive ruling by a court to prevent the seller selling to an alternative purchaser, so the only remedy open via the agreement will be the reimbursement of abortive charges and, in restricted situations, the additional payment of damages.
I am considering applying for a Leeds Building Society mortgage for purchase of a new build (under development) in Morden with 60% loan to value. Is it compulsory to choose a solicitor on the conveyancing panel for Leeds Building Society ?
There is nothing to stop you using your solicitor, but Leeds Building Society will insist on their interests being represented by a firm on their conveyancing panel. There is greater potential for delays and confusion with an additional lawyer added to the mix, and it will undoubtedly be more expensive too.
I have been on the look out for a ground for flat up to £305k and found one near me in Morden I like with open areas and station nearby, the downside is that it only has 51 remaining years left on the lease. There is not much else in Morden for this price, so just wondered if I would be making a grave error purchasing a short lease?
Should you need a mortgage the shortness of the lease will be a potential deal breaker. Discount the price by the amount the lease extension will cost if not already taken into account. If the current owner has owned the premises for at least 2 years you may ask them to commence the lease extension formalities and then assign it to you. An additional ninety years can be extended on to the existing lease term and have £0 ground rent by law. You should consult your conveyancing lawyer concerning this matter.
Given that I am about to spend hundreds of thousands of pounds on a two bedroom apartment in Morden I would like to talk to a lawyer concerning theconveyancing prior to giving the go ahead to the firm. Is this something that you can arrange?
Absolutely - it is our preference to talk to you we do not take any clients on without you liaising with the solicitor who will be doing your property ownership legalities in Morden.There is no ‘factory style conveyancing’ - each client is an important person, not a file reference. The solicitors that we put you in touch with believe that the fees you are provided with for residential conveyancing in Morden should be the amount on the final invoice that you end up paying.
Our conveyancer has advised that he intends to complete and exchange simultaneously on the sale of our £250,000 garden flat in Morden next week. The freeholder has quoted £420 for Landlord’s certificate, insurance certificate and previous years service charge statements. Is the landlord entitled to charge such fees for a flat conveyance in Morden?
For most leasehold sales in Morden conveyancing will involve, questions about the management of a building inevitably needing to be answered directly by the freeholder or its agent, this includes :
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Answering pre-exchange enquiries
Where consent is required before sale in Morden
Copies of the building insurance and schedule
Deeds of covenant upon sale
Registering of the assignment of the change of lessee after a sale
Having spent years of correspondence we simply can't agree with our landlord on how much the lease extension should cost for our flat in Morden. Does the Leasehold Valuation Tribunal have jurisdiction to calculate the appropriate figures?
in cases where there is a absentee freeholder or where there is dispute about the premium for a lease extension, under the relevant legislation you can apply to the First-tier Tribunal (Property Chamber) to make a decision on the amount due.
An example of a Lease Extension matter before the tribunal for a Morden property 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 remaining number of years on the lease was 62.94 years.