Why is leasehold purchase conveyancing in Morden costs more?
In summary, leasehold conveyancing in Morden and South West London usually requires more hours of investigation compared to freehold conveyancing. This includes reviewing the lease, communicating with the landlord about the service of required notices, obtaining up-to-date service charge and management information, obtaining the freeholder’s consents and reviewing management accounts. The obligations on both the landlord and the tenant in the lease need to be studied by the buyer’s conveyancing team and read from beginning to end – no matter how many different proprietor have owned the lease since it was first granted.
Having spent time scouring mumsnet.com for a conveyancing lawyer in Morden, most post that I should use a CQS assured solicitor. Can you explain what CQS is?
The Conveyancing Quality Scheme (CQS) provides a kitemark for residential conveyancing practices issued by the Law Society. Membership achievement establishes a level of credibility for member firms with stakeholders (regulators, lenders, insurers and consumers) based upon: * the integrity of the senior responsible officer and other key conveyancing staff * the firm's adherence to good practice management standards * adherence to prudent and efficient conveyancing processes through the scheme protocol It covers many companies who handle conveyancing in Morden.
It has been 2 months since my purchase conveyancing in Morden completed. I have checked the Land Registry site which shows that I paid £150,000 when infact I paid £170,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the asset from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
How does conveyancing in Morden differ for newly converted properties?
Most buyers of new build property in Morden contact us having been asked by the developer to exchange contracts and commit to the purchase even before the property is ready to move into. This is because builders in Morden usually acquire the real estate, 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 conveyancing solicitors 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 Morden or who has acted in the same development.
I opted to have a survey done on a property in Morden in advance of instructing lawyers. I have been informed that there is a flying freehold aspect to the house. Our surveyor advised that some lenders will refuse to give a mortgage on this type of premises.
It varies from the lender to lender. Santander has different requirements for example to Birmingham Midshires. Should you wish to call us we can look into this further with the appropriate bank. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Morden. Conveyancing will be smoother if you use a solicitor in Morden especially if they regularly deal with such properties in Morden.
Is it possible to switch firm as I need to retain a firm on the The Mortgage Works conveyancing list. I had appointed a high street conveyancing solicitor in Morden five minutes from me but the firm is not accepted by The Mortgage Works
It would be our pleasure to assist you find a conveyancing solicitor in Morden on the The Mortgage Works panel. Please note that the law firms that we work with do not pay us commission if you instruct them and are registered with the Solicitors Regulation Authority who oversee all conveyancing solicitors in Morden. In utilising the find a conveyancing solicitor tool on this page, you can compare and instruct different solicitors and conveyancers both nationally and in Morden.