I am purchasing a house for cash in Mortimer. I have been living for the previous 20 years in Mortimer. Conveyancing searches are exorbitant. As I know the road and vicinity intimately must I have all the conveyancing searches?
Provided that you do not need a mortgage, then almost all of the Mortimer conveyancing searches are non-obligatory. Your lawyer will 'advise', no-doubt strongly, that you should have searches completed, but she is duty bound to take that path of guidance. Do consider; if you are likely to sell the house in the future, it will likely be be of interest to your future buyer what the searches determine. Sometimes premises with day to day issues can still reveal unexpected search results. A competent conveyancing solicitor in Mortimer should provide you some practical guidance concerning this.
When does exchange of contracts take place for residential conveyancing in Mortimer and am I required to attend the conveyancers office?
If you are in close proximity to one of the conveyancing solicitors in Mortimer you are welcome to come in to sign the paperwork. That being said, the law practices we work with offer a nationwide conveyancing service and give as equally diligent and professional a job for you when dealing with you by post or email. The executing of the contract is not the important part. Signing on the dotted line is necessary for the firm to exchange contracts at the suitable time, which will usually be very shortly after signing. The procedure is is usually a five minute process, although where an extended "chain" is in play, since the process requires the relevant party's solicitor (not necessarily a conveyancing solicitor in Mortimer)to be in the office available at the end of the phone to exchange contracts.
We previously chose solicitors locally in Mortimer on the TSB solicitor approved list. They are now charging me a separate amount for handling the TSB mortgage. Is this an additional conveyancing fee set by TSB?
Unfortunately, so long as it is in their Terms and Conditions or Quote then yes your lawyer is entitled to charge a fee for this. The fee is not set by TSB but by your Mortimer conveyancing practitioner. Some firms on the TSB panel will levy an ‘acting for lender’ fee and others do not.
We were going to get a OIP from Aldermore this week so we know how much we could potentially offer as otherwise we only have online calculators to go by (which aren't taking into account credit checks etc). Do Aldermore recommend any Mortimer solicitors on the Aldermore conveyancing panel, or is it better to find our own lawyer?
You will need to appoint Mortimer solicitors independently although you'll need to choose one on the Aldermore conveyancing panel. The solicitor represents both you and Aldermore through the process.
At last I have had an offer on a maisonette in Mortimer accepted, but there is a chain. The owners have offered on a property, but it’s not yet agreed to, and are looking at other flats in the pipeline. I have selected a local conveyancing solicitor in Mortimer. What do I do now? When should I get the mortgage application with Co-operative going?
It is usual to have apprehensions where there is a chain as you are unlikely to want to incur expenses too early (home loan application is approx £1k, then valuation, Mortimer conveyancing search fees, etc). The first thing to do is ensure that your property lawyer is on the Co-operative conveyancing panel. As to the subsequent stages this very much depends on the uniqueness of your transaction, desire for the property and on the state of the market. During a hot market many buyers would apply for a home loan with Co-operative and pay for the valuation and only if it comes back ok would they pay their property lawyer to proceed with searches.
I'm purchasing a new build house in Mortimer with the aid of help to buy. The builders would not reduce the price so I negotiated £7000 of additionals instead. The house builders rep suggested that I not disclose to my solicitor about this extras as it could jeopardize my mortgage with the lender. Should I keep quiet?.
All lenders require a Disclosure of Incentives Form from the developer of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
I've recently found out that there is a flying freehold issue on a property I have offered on two weeks back in what was supposed to be a simple, no chain conveyancing. Mortimer is the location of the property. What do you suggest?
Flying freeholds in Mortimer are unusual but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Mortimer you must be sure that your lawyer goes through the deeds thoroughly. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Mortimer may decide 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 premises.
Our conveyancer has advised that he intends to complete and exchange simultaneously on our sale of a £225,000 apartment in Mortimer next week. The freeholder has quoted £360 for Landlord’s certificate, insurance certificate and previous years statements of service charge. Is it legal for a freeholder to charge exorbitant fees for a flat conveyance in Mortimer?
For the majority of leasehold sales in Mortimer conveyancing will involve, queries regarding 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 questions
Where consent is required before sale in Mortimer
Copies of the building insurance and schedule
Deeds of covenant upon sale
Registering of the assignment of the change of lessee after a sale
I am the registered owner of a ground floor flat in Mortimer, conveyancing having been completed half a dozen years ago. Can you give me give me an indication of the likely cost of a lease extension? Comparable flats in Mortimer with over 90 years remaining are worth £191,000. The average or mid-range amount of ground rent is £55 levied per year. The lease runs out on 21st October 2079
With just 54 years remaining on your lease we estimate the price of your lease extension to be between £31,400 and £36,200 as well as plus your own and the landlord's "reasonable" professional fees.
The suggested premium range above a general guide to costs for extending a lease, but we cannot give you a more accurate figure without more detailed investigations. Do not use this information in a Notice of Claim or as an informal offer. There are no doubt additional concerns that need to be considered and you obviously want to be as accurate as possible in your negotiations. Neither should you move forward based on this information without first getting professional advice.