IfI was to purchase a straightforward propertyin Lower Morden mortgage fee and have no survey and no local authority searches how much could I expect to to save on my conveyancing in Lower Morden?
The only reduction in fees you would achieve is the Lower Morden conveyancing searches. The property lawyer is required to do the vast majority of work - money laundering, correspond with your vendors conveyancing practitioner, SDLT return, register the ownership etc. A marginal saving might be made by not needing to register a mortgage but it will not be significant.
Do lenders provide you with an approved list of Lower Morden conveyancing solicitors? How do you know who is on the Virgin Money conveyancing panel?
Lower Morden conveyancing firms themselves provide us confirmation that they are on the Virgin Money conveyancing panel as opposed to being supplied with a list from Virgin Money directly.
A friend recommended that where I am buying in Lower Morden I should ask my conveyancer to carry out a Neighbourhood, Planning and Local Amenity Search. Can you explain what the purpose of this search is?
This is a search is sometimes included in the estimate for your Lower Morden conveyancing searches. It is not a small report of about 40 pages, listing and setting out important information about Lower Morden around the property and the people living there. It incorporates an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the Lower Morden Housing Market, Council Tax Banding, the demographics of People living in the area, the dominant type of Housing, the Average House Prices, Crime details, Lower Morden Education with maps and statistics, Local Amenities and other useful information about Lower Morden.
I am buying a new build house in Lower Morden with a mortgage from Yorkshire Building Society. The sellers would not move on the price so I negotiated 6k of additionals instead. The property agent advised me not reveal to my solicitor about the extras as it will put at risk my mortgage with the bank. Do I keep my lawyer in the dark?.
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 have been on the look out for a leasehold apartment up to £235,500 and found one near me in Lower Morden I like with open areas and railway links nearby, however it's only got 49 years unexpired on the lease. I can't really find anything else in Lower Morden for this price, so just wondered if I would be making a grave error acquiring a short lease?
Should you require a home loan that many years will likely be an issue. Discount the price by the expected lease extension will cost if it has not already been discounted. If the existing proprietor has owned the premises for a minimum of twenty four months you could request that they start the process of the extension and then assign it to you. An additional ninety years can be extended on to the current lease with a zero ground rent applied. You should consult your conveyancing lawyer regarding this.
In what way does the Landlord & Tenant Act 1954 impact my commercial premises in Lower Morden and how can your lawyers assist?
The particular law that you refer to provides protection to commercial lessees, giving them the a statutory right to apply to court for a new lease and remain in occupation at the end of an expired lease. There are certain specified grounds that a landlord can refuse a lease renewal and the rules are complicated. Fees are different for commercial conveyancing. Lower Morden is one of the hundreds of areas of the UK in which our lawyers have offices