Me and my partner are soon to exchange buying a house in Merton Park but as a result of wreckage from the recent storms I have was able negotiate compensation from the seller in the sum of £3k taking the form of a adjustment in the price. This was going to be dealt with as part of a side agreement yet Leeds Building Society will not agree to this. Why were they involved?
Your lawyer that is on the Leeds Building Society approved list is obliged to disclose to Leeds Building Society of any variations to the sale price. If you were to refuse your lawyer to disclose the price change to Leeds Building Society then they would have to discontinue acting for you. In addition, Leeds Building Society and you would have to appoint a new solicitor for your conveyancing in Merton Park.
When does exchange of contracts happen for sale conveyancing in Merton Park and do I need to be at the solicitors branch?
If you are near to one of the conveyancing solicitors in Merton Park you are invited in to sign the paperwork. However, the firms we recommend provide a national conveyancing service and give as equally comprehensive and professional a job for you when communicating with you by post or email. The signing of the contract is not the critical part. Signing on the dotted line is just a prerequisite for the solicitor to address the formalities at the appropriate time, which will usually be very shortly after signing. The exchange process is is usually a five minute process, although where an extended "chain" is in play, since the process requires the relevant party's solicitor (not necessarily a conveyancing solicitor in Merton Park)to be in the office available at the end of the phone to exchange contracts.
Is there a search tool that I can use to discover of the solicitor conducting my conveyancing in Merton Park is on the mortgage lender’sapproved panel? I am looking to avoid the situation of having one lawyer for me and one for Santander thus paying £175.00 in supplemental conveyancing costs.
Please do make the most of the search tool on this page. Please choose the mortgage company and type ‘Merton Park’ or your location and you will see numerous conveyancers located in Merton Park or by proximity to you.
Are there restrictive covenants that are commonly picked up as part of conveyancing in Merton Park?
Restrictive covenants can be picked up when reviewing land registry title as part of the legal transfer of property in Merton Park. 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 have been on the look out for a ground for flat up to £245,000 and identified one near me in Merton Park I like with amenity areas and station in the vicinity, the downside is that it only has 51 remaining years left on the lease. I can't really find anything else in Merton Park for this price, so just wondered if I would be making a grave error buying a short lease?
Should you require a mortgage the remaining unexpired lease term may be an issue. Discount the offer by the anticipated lease extension will cost if not already taken into account. If the current proprietor has owned the property for a minimum of 2 years you may request that they commence the lease extension formalities and pass it to you. You can add 90 years to the existing lease and have £0 ground rent by law. You should speak to your conveyancing solicitor regarding this.
I'm converting the mortgage on my primary house to a buy to let mortgage with Coventry Building Society and I will use the ballance of the raised equity as a deposit on further house. The location we are looking at is Merton Park. Will your solicitors be able to act for the two lenders and link together the two deals?
Do use our search tool on this site to ensure that the conveyancers are on the relevant lender panels. Having checked that they are the lawyer should be able to connect the two deals but you should have a chat with you solicitor and specify your expectations and needs.