We were about to instruct a conveyancing solicitor in Malden endorsed using your search tool but stumbled across some other estimates via the web appear less expensive – why is this?
There are lots of conveyancers offering theoretically looks to be very low prices. You should think long and hard as to how much you respect your own move to want to take 'cheap' risks with regard to the quality of the legal work. Many of them accentuate a cheap quote to catch your eye but hide additional costs in the fine print..
I own a freehold residence in Malden but still charged rent, why is this and what is this?
It’s unusual for properties in Malden and has limited impact for conveyancing in Malden but some freehold properties in England (particularly common in North West England) pay an annual sum known as a Chief Rent or a Rentcharge to a third party who has no other legal interest in the land.
Rentcharge payments are usually between £2.00 and £5.00 per year. Rentcharges have existed for hundreds of years, but the Rent Charge Act 1977 barred the establishment of new rentcharges from 1977 onwards.
Previous rentcharges can now be redeemed by making a one off payment under the Act. Any rentcharges that are still in existence in 2037 is to be dispensed with completely.
I have a decision in principle. The bank mentioned the mortgage came with free conveyancing. Is the implication that I have to appoint their panel solicitor as I would prefer to instruct a high street conveyancing solicitor in Malden?
Do check but the chances are that appoint one of their panel lawyers should you accept the "fee-free" offer. Contact the mortgage company to determine if they make available a monetary alternative. Some lenders have previously offered a £250 cashback as a further option in which case you could put that amount towards the cost for your conveyancing solicitor near Malden.
We previously selected conveyancers locally in Malden on the Lloyds solicitor panel. They are now charging me a further fee for handling the Lloyds mortgage. Is this a supplemental conveyancing fee set by Lloyds?
As unfair as it may appear, as long as it’s in their Terms and Conditions or Quote then yes your conveyancer is entitled to levy a fee for this. The charge is not dictated by Lloyds but by your Malden solicitor. Some firms on the Lloyds panel will levy an ‘acting for lender’ fee and others do not.
We have a mortgage agreed in principle with Bank of Ireland. Malden conveyancing lawyers were instructed. What is the average time that one could expect to receive a mortgage offer from Bank of Ireland?
Some lenders take longer than others. Have Bank of Ireland conducted the survey? Have you advised Bank of Ireland as to your lawyers' details and checked that your lawyers are on the Bank of Ireland conveyancing panel? Sometimes it can take as long as six weeks for a mortgage offer to be issued.
It is not clear whether my bank requires a lease extension. I have called into my local Malden bank branch on numerous occasions and was told they are content with the situation and they would lend. My Malden conveyancing solicitor - who is on the bank conveyancing panel- telephoned to say that they would not lend based on their published requirements. I simply don't know who is right.
The lawyer must follow the CML Handbook section two conditions for your lender. Unless your lawyer obtains specific confirmation in writing that the mortgage company will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the bank to contact your lawyer in writing confirming that they will accept the number of years remaining.
Are there restrictive covenants that are commonly picked up as part of conveyancing in Malden?
Restrictive covenants can be picked up when reviewing land registry title as part of the process of conveyancing in Malden. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
I decided to have a survey completed on a property in Malden before appointing lawyers. I have been told that there is a flying freehold overhang to the house. The surveyor advised that some lenders will refuse to issue a mortgage on a flying freehold house.
It depends who your proposed lender is. HSBC has different instructions from Nationwide. If you e-mail us we can check via the appropriate mortgage company. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Malden. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Malden to see if the conveyancing costs will increase in light of this.