We are getting closer to an exchange on a house in New Malden and my parents have sent the 10% deposit to my conveyancer. I am now advised that as the deposit has been received from someone other than me my conveyancing practitioner needs to make a notification to my lender. Apparently, in also acting for the bank he must inform them that the balance of the purchase price is not just from me. I advised the lender about my parents' contribution when I applied for the mortgage, so is it really appropriate for this now to delay the deal?
Your conveyancer is legally required to check with the bank to make sure that they understand that the balance of the purchase price is not from your own funds. Your solicitor can only reveal this to your bank if you permit them to, failing which, your lawyer must cease to continue acting.
It is 10 years ago since I acquired my property in New Malden. Conveyancing solicitors have recently been appointed on the sale but I am unable to find my title documents. Is this a problem?
Don’t worry too much. First there is a chance that the deeds will be kept by the lender or they could be archived with the solicitor who handled the purchase. Secondly the chances are that the property will be recorded at the land registry and you will be able to establish that you own the property by your conveyancing lawyers procuring up to date copy of the land registers. Almost all conveyancing in New Malden relates to registered property but in the rare situation where your home is not registered it adds to the complexity but is resolvable.
Will my solicitor be making enquiries concerning flooding during the conveyancing in New Malden.
Flooding is a growing risk for conveyancers carrying out conveyancing in New Malden. Plenty of people will purchase a property in New Malden, completely aware that at some time, it may be flooded. However, aside from the physical damage, if a house is at risk of flooding, it may be difficult to obtain a mortgage, adequate building insurance, or sell the premises. Steps can be carried out as part of the conveyancing process to forewarn the buyer.
Solicitors are not qualified to offer advice on flood risk, but there are a number of checks that can be initiated by the purchaser or on a buyer’s behalf which can figure out the risks in New Malden. The standard property information forms sent to a buyer’s solicitor (where the solicitors are adopting what is known as the Conveyancing Protocol) incorporates a usual question of the owner to discover if the premises has suffered from flooding. In the event that the premises has been flooded in past which is not notified by the vendor, then a buyer could commence a legal claim for losses as a result of such an inaccurate response. The buyer’s lawyers should also order an enviro search. This will higlight whether there is a recorded flood risk. If so, more detailed inquiries should be initiated.
The deeds to my home are lost. The lawyers who did the conveyancing in New Malden 5 years ago have long since closed. What do I do?
Assuming you have a registered title the information relating to your ownership will be held by HMLR under a Title Number. It is easy to carry out a search at the Land Registry, locate your property and get current copies of the property title for less than a fiver. If the title is Leasehold then the Land Registry will in most cases hold a certified duplicate of the Registered Lease and again, a copy can be obtained for a small fee.
In searching the world wide web for the words conveyancing in New Malden it reveals numerous solicitorslocally. How do I determine which is the right solicitor for the sale of my house?
The preferential way of choosing a suitable conveyancer is through a personal recommendation, so seek the counsel of friends and family who have acquired a property in New Malden or the reputable estate agent or mortgage broker. Fees for conveyancing in New Malden differ, so it's advisable to obtain a minimum of four costs illustrations from varying types of property lawyers. Dont forget to clarify that the charges are guaranteed not to escalate.
I've recently bought a leasehold house in New Malden. Do I have any liability for service charges for periods before my ownership?
In a situation where the service charge has already been demanded from the previous owner and they have not paid you would not usually be personally liable for the arrears. However, your landlord may still be able to take action to forfeit the lease. It is an essential part of leasehold conveyancing for your conveyancer to ensure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.
If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).
Notwithstanding our best efforts, we have been unsuccessful in trying to reach an agreement for a lease extension in New Malden. Can the Leasehold Valuation Tribunal adjudicate on premiums?
Absolutely. We are happy to put you in touch with a New Malden conveyancing firm who can help.
An example of a Lease Extension case for a New Malden property is Flat D 15 Claremont Gardens in September 2013. TheTribunal determined in accordance with section48 and Schedule13 of the Leasehold Reform,Housing and Urban Development Act 1993 that the premium for the extended lease should be fourteen thousand one hundred and eighty seven pounds (£14,187.00) This case affected 1 flat.