AssumingI was to buy a straightforward propertyin Mortlake mortgage fee and dispense with a survey and no local authority searches how much should I expect to to save on my conveyancing in Mortlake?
Any savings you would achieve would be isolated to the disbursement for searches. The conveyancing practitioner still got to do everything else - money laundering, correspond with your sellers conveyancing practitioner, stamp duty return, register the property etc. You might save a bit for them not needing to register a charge but it will not be a lot.
In what way does my ID and proof of funds have anything to do with my conveyancing in Mortlake? Why is this being asked of me?
In order to comply with Money Laundering Regulations any Mortlake conveyancing firm will require evidence of your identity in all conveyancing matters. This is normally dealt with by provision of a passport and an original bank statement or utility bill evidencing your correct address.
In accordance with Money Laundering Regulations, conveyancing solicitors are duty bound to ascertain not just the ID of conveyancing clients but also the origin of monies that they receive in respect of any matter. Refusal to disclose this will lead to your solicitor cancelling their retainer with you, as clearly this will cause a conflict between the set Regulations and a refusal to disclose.
Your property lawyers are duty bound to make a disclosure to the appropriate authorities should they believe that any amounts received by them may contravene the Money Laundering Regulations.
Do I need to take out insurance to cover chancel repairs when buying a house in Mortlake?
Unless a previous purchase of the premises completed post 12 October 2013 you may expect lawyers carrying out conveyancing in Mortlake to remain recommending a chancel search and or chancel repair liability insurance.
Due to the encouragement of my in-laws I had a survey completed on a property in Mortlake in advance of retaining conveyancers. I have been informed that there is a flying freehold element to the property. Our surveyor has said that some lenders will refuse to give a mortgage on such a home.
It depends who your proposed lender is. Bank of Scotland has different requirements from Nationwide. If you call 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 Mortlake. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Mortlake to see if the conveyancing will be more expensive.
I am a negotiator for a busy estate agency in Mortlake where we have experienced a few leasehold sales put at risk as a result of short leases. I have been given conflicting advice from local Mortlake conveyancing firms. Could you shed some light as to whether the seller of a flat can start the lease extension process for the purchaser on completion of the sale?
Provided that the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to kick-start the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the proposed purchaser can avoid having to sit tight for 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment has to be done before, or at the same time as completion of the disposal of the property.
Alternatively, it may be possible to agree the lease extension with the freeholder either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the buyer.
I have tried to negotiate informally with with my landlord for a lease extension without any joy. Can a leaseholder make an application to the Leasehold Valuation Tribunal? Can you recommend a Mortlake conveyancing firm to represent me?
in cases where there is a absentee landlord or where there is dispute about the premium for a lease extension, under the relevant statutes it is possible to make an application to the LVT to calculate the price payable.
An example of a Freehold Enfranchisement decision for a Mortlake premises is 19 St. Margarets Crescent in August 2010. the tribunal was of the view that the premium to be paid by the leaseholder for the freehold reversion was £51,983.00 This case affected 3 flats. The unexpired term was 66.25 years.
As a tenant I am liable for a maintenance fee for my first floor flat in Mortlake. As a result of personal circumstances I fell behind with payments. I negotiated a payment plan but there remains three thousand pounds outstanding at the current time.
I now wish to sell and I am nervous that this may hold me back if I have to pay off the arrears first. I'd like to sell up and then pay them back with the completion monies - is this possible?
Do clarify with the solicitor handling your Mortlake conveyancing but it may be possible to arrange for the arrears to be attributed to the purchasers. The final price they pay would be reduced to reflect the amount of debt they assume. They could then discharge the outstanding monies after completion of the purchase.