I plan on acquiring a maisonette in Merton Park. My lawyer has never been on on the mortgage company approved panel. Can I still appoint my Merton Park conveyancing solicitor notwithstanding that they are not on the lender panel?
You will need to appoint a lawyer to deal with the formalities if you take out a loan to purchase your property. They will conduct all the essential due diligence on the property, make sure that you will be registered as proprietor and ensure that all the necessary mortgage paperwork is dealt with. One could appoint a Merton Park conveyancer of your choosing. However, where the conveyancer selected is not on the mortgage company approved list additional costs will be incurred as separate legal representation will be required by them. Lender panel applications may be submitted, so if your lawyer has not historically sought membership they should do so.
The vendors of the house we are hoping to buy have instructed a conveyancing firm in Merton Park who has suggested a exclusivity agreement with a down payment two thousand pounds. Are such agreements promoted for Merton Park conveyancing transactions?
Lock out agreements are contracts between a home vendor and purchaser giving the buyer exclusive rights to the sale of the property within a prescribed time frame. For all intents and purposes, a lock out is a document stating that you will have a contract at a later time being the main conveyancing contract. It tends to be used for buyer protection though in some cases, the owner may enjoy an upside from such agreements as well. There are many positives and negatives to having an agreement but you need to check with your lawyer but note that it may end up costing you extra in conveyancing charges. In light of this these agreements are not popular in relation to conveyancing in Merton Park.
What does my ID and proof of funds have anything to do with my conveyancing in Merton Park? Why is this being asked of me?
Merton Park conveyancing solicitors as well as nationwide property lawyers accross the UK have an obligation under money laundering regulations to verify the ID of any client with a view to satisfy themselves that clients are who they say they are.
Conveyancing clients are required to disclose two forms of certified identification; proof of ID (typically a Passport or Driving Licence) and proof of address (usually a Utility Bill no more than three months).
Proof of the origin of funds is also necessary under the money laundering regulations as lawyers are duty bound to check that the money you are using to buy a property (be it the exchange deposit or the full purchase price if you are a cash purchaser) has originated from legitimate source (such as an inheritance) and is not the proceeds of illegitimate behaviour.
Will my conveyancing lawyers need to check that the building insurance for my purchase of a house in Merton Park. My lender is Tesco Bank
Tesco Bank have specific requirements as set out in the UK Finance Lenders’ Handbook. As of 3/1/2026, the requirements read as follows :
I am tempted by the attractive purchase price for a couple of apartments in Merton Park which have in the region of 50 years left on the leases. Will this present a problem?
A lease is a right to use the premises for a prescribed time frame. As a lease gets shorter the marketability of the lease decreases and it becomes more expensive to acquire a lease extension. This is why it is often a good idea to increase the term of the lease. It is often difficult to sell a property with a short lease because mortgage lenders may be reluctant to lend money on properties of this type. Lease enfranchisement can be a difficult process. We advise that you seek professional assistance from a conveyancer and surveyor with experience in this arena.
Having spent months of dialogue we are unable to agree with our landlord on how much the lease extension should cost for our flat in Merton Park. Does the Leasehold Valuation Tribunal have jurisdiction to calculate the appropriate figures?
Most definitely. We can put you in touch with a Merton Park conveyancing firm who can help.
An example of a Lease Extension case for a Merton Park residence is 14 Nutwell Street in January 2014. The premium payable for the acquisition of a new lease of the subject premises was in the sum of £30,523 This case was in relation to 1 flat. The number of years remaining on the existing lease(s) was 62.94 years.
My son is just in the process of moving home, he had his mortgage in principle. One the offer was accepted on house we telephoned the mortgage company to issue the formal offer. I was shocked to hear that mortgage companies do not accept all lawyer, they need to be on their approved list, is this correct?
Mortgage Companies tend to restrict either the type or the number of conveyancing solicitors on their approved list of lawyers. Typical examples of such restriction(s) being that a firm must have two or more partners. In addition to restricting the type of firm, some have decided to limit the number of firms they use to represent them. You should note that banks have no responsibility for the quality of advice provided by any Merton Park conveyancing practitioner on their panel. Mortgage fraud was a key driver in the rationalisation of conveyancing panels a few years ago and whilst there are differing views about the extent of solicitor involvement in some of that fraud. Statistics from the Land Registry reveal that thousands of law firms only carry out one or two conveyances a year. Those supporting conveyancing panel cuts ask why law firms should have the right to be on a Lender panel when clearly, conveyancing is not their speciality. To put it another way; would you want a conveyancing solicitor to represent you if you were charged with a crime? Unlikely.