We are purchasing a property in Lower Morden. It might be a silly question but how we can trust a solicitor? On completion day we will need to send funds into their account. What is the protection we have from them run away with our deposit?
Be assured that all money in a Solicitors client account is 100% safe, and even if your Solicitor ran off with it, the Law Society would reimburse you fully.
Is there a list of Yorkshire BS panel solicitors in Lower Morden on the UK Finance Lenders’ Handbook Website?
No. There is no such facility on the CML or Building Society Association websites. Very few mortgage companies make their panel listings open the public over the internet. If you are seeking to appoint a Lower Morden property lawyer on the Yorkshire BS please make the most of our facility.
I am purchasing a property in Lower Morden. One unusual aspect is that the roof has a solar panel. Leeds Building Society have issued a mortgage offer so presumably this is not a concern to them. Why is my solicitor raising questions about the panel?
As your lender is Leeds Building Society your lawyer must comply with the formal instructions set out in Part two of UK Finance Lenders’ Handbook for Leeds Building Society. The Council of Mortgage Lenders’ Handbook stipulates minimum provisions for solar panel roof-space leases, and conveyancing practitioners are required to report to Leeds Building Society where a lease fails to meet these specifications. The provisions relate to the installation of panels on properties countrywide and is not isolated to Lower Morden.
Various internet forums that I have frequented warn that are the primary reason for hinderance in Lower Morden conveyancing transactions. Is that correct?
The Council of Property Search Organisations (CoPSO) published determinations of research by MoveWithUs that conveyancing searches do not feature within the top 10 causes of hindrances in the conveyancing process. Searches are unlikely to be the root cause of slowing down conveyancing in Lower Morden.
I completed on my house on 14 September and my personal details is yet to be registered. Should I be concerned? My conveyancing solicitor in Lower Morden said it would be formalised inside ten days. Are titles in Lower Morden particularly slow to register?
As far as conveyancing in Lower Morden registration is no quicker or slower than the rest of England and Wales. As opposed to being determined by geographic area, timeframes can differ subject to who lodges the application, whether there are errors and if the Land registry must send notices to any interested persons or bodies. As of today approximately three quarters of such applications are fully dealt with in less than three weeks but some can be subject to longer delays. Historically registration is effected after the new owner is living at the premises therefore 'speed' is not always primary concern but where it is urgent that the the registration takes place urgently then you or your solicitor must contact the land registry and explain the circumstances.
How does conveyancing in Lower Morden differ for new build properties?
Most buyers of new build property in Lower Morden come to us having been asked by the developer to exchange contracts and commit to the purchase even before the property is built. This is because developers in Lower Morden typically purchase the land, 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 conveyancers 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 used to new build conveyancing in Lower Morden or who has acted in the same development.
I've recently bought a leasehold property in Lower Morden. Do I have any liability for service charges relating to a period prior to completion of my purchase?
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. A critical element 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).
I have tried to negotiate informally with with my landlord to extend my lease without success. Can the Leasehold Valuation Tribunal adjudicate on such issues? Can you recommend a Lower Morden conveyancing firm to represent me?
Most certainly. We are happy to put you in touch with a Lower Morden conveyancing firm who can help.
An example of a Lease Extension decision for a Lower Morden property is 33 The Maisonettes Alberta Avenue in June 2014. the Tribunal decided that the premium payable for the grant of a new lease be the sum of £20,680 (Twenty Thousand six hundred and eighty pounds). This case related to 1 flat. The unexpired term as at the valuation date was 60.43 years.
New build sellers have suggested I use a conveyancing practitioner and I've obtained a quote from them. It's nearly three hundred pounds cheaper than my own Lower Morden conveyancing practitioner. What's the catch?
Developers normally have panels of lawyers who expedite matters and who know the developer’s documentation and conveyancer. Plenty of developers offer an incentive to choose a preferred property lawyer for this reason, any increased charges can be avoided and a builder will not put forward a conveyancing warehouse and run the risk of having the conveyancing delayed when they demand an exchange within a tight deadline. A counter-argument for not opting for the suggested conveyancer is that they may prove reluctant to fight for your interests at the risk of alienating the developer. Where you have concerns that this may be the case you should stick with your local Lower Morden property lawyer.