We are buying a new build apartment in Morden and my solicitor is informing me that she has to the mortgage company to disclose incentives from the builder. The Estate Agents are hassling me to exchange and I would rather not prolong deal. Is my lawyer right?
You should not exchange unless you have been advised to do so by your lawyer. A precondition to being on a mortgage company panel is to comply with the UK Finance Lenders’ Handbook requirements. The CML Conveyancing Handbook requires that your lawyer have the appropriate Disclosure of Incentive form completed by the developer and accepted by your lender.
Just acquired a semi-detached house in Morden , What is the estimated time for the Land Registry to record my ownership? My Morden conveyancing solicitor works at snail pace, so I want to be sure the registration formalities are addressed.
There is nothing unique about conveyancing in Morden registration formalities. Rather than based on location, timeframes can vary depending on who lodges the application, whether it is in order and whether the Land registry communicate with any other parties. Currently roughly 80% of submission are fully addressed in less than three weeks but some can be subject to longer hold-ups. Registration takes place once the new owner is living at the premises therefore an expedited registration is not always top priority but if there is a degree of urgency associated with the registration then you or your solicitor can speak with the land registry and explain the circumstances.
Due to the encouragement of my in-laws I had a survey completed on a property in Morden in advance of retaining conveyancers. I have been told that there is a flying freehold aspect to the property. My surveyor advised that some mortgage companies may not give a loan on this type of premises.
It depends who your proposed lender is. Santander has different instructions for example to Nationwide. If you e-mail us we can investigate further via the appropriate lender. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Morden. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Morden to see if the conveyancing will be more expensive.
What tools are available to identify a Morden solicitor on the Barnsley Building Society conveyancing panel? I have wheels and am prepared to travel upto 25kilometers to meet the lawyer.
Feel free to make use of the facility on this page. Please select a mortgage company and your location and you will see a number of Morden conveyancing lawyers locally. We have listed some Morden conveyancing firms towards the end of this page and you can ring them to see whether they are on the Barnsley Building Society approved list
My wife and I have hit a brick wall in seeking a lease extension in Morden. Can the Leasehold Valuation Tribunal adjudicate on premiums?
Absolutely. We are happy to put you in touch with a Morden conveyancing firm who can help.
An example of a Lease Extension matter before the tribunal for a Morden premises 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 related to 1 flat. The unexpired term as at the valuation date was 62.94 years.
Are there frequently found deficiencies that you encounter in leases for Morden properties?
There is nothing unique about leasehold conveyancing in Morden. All leases are unique and drafting errors can result in certain sections are erroneous. For example, if your lease is missing any of the following, it could be defective:
Clauses dealing with recovering service charges for expenditure on the building or common parts. A provision to repair to or maintain elements of the building
A defective lease can cause issues when trying to sell a property as they can affect a potential buyer’s ability to obtain a mortgage. National Westminster Bank, The Royal Bank of Scotland, and Alliance & Leicester all have very detailed conveyancing instructions when it comes to what is expected in a lease. If a mortgage lender believes that the lease is defective they may refuse to provide security, forcing the buyer to withdraw.
I'm purchasing a apartment in Morden. I can find my conveyancer's company on the Law Society's list, but I can't find my lawyer's name as listed on the regulator's website. Should I be concerned?
Not all staff in the practice must be listed by the regulator. Provided there is a manager qualified to 'oversee' the work, the actual day-to-day activity can be conducted by unlicensed staff.