I'm in the process of changing my existing standard loan to a BTL Platform Home Loans Ltd mortgage. I was told by my financial advisor that I need a lawyer as part of the process. I got in contact with my former Morden conveyancing solicitor who who conducted the conveyancing when I originally acquired the premises. The costs illustration sent of £550 is an eye-watering amount to do this as its a remortgage than a sale or purchase.
The estimate does seem a tad steep. If you are content to spend time scrutinising prices you might shave off some of the expense by as much as a hundred pounds. That being said, providing that you were happy with the service the firm gave you couldcome to regret choosing an an untested solicitor. Remember to enquire the conveyancer can represent Platform Home Loans Ltd. Do use our search tool to select a Morden conveyancing firm on the Platform Home Loans Ltd approved list of lawyers, which can often include conveyancing solicitors in Morden.
What does my ID and proof of funds have anything to do with my conveyancing in Morden? What am I being asked for?
It is indeed that case that these requests have nothing to do with conveyancing in Morden. Nowadays you can not complete any conveyancing transaction in the absence handing over proof of your identity. This usually takes the form of a either your passport or driving licence plus a utility bill. Please note that if you are supplying your driving licence as proof of identification it must be both the paper part and photo card part, one is not sufficient in the absence of the other.
Proof of your origin of monies is necessary in accordance with the Money Laundering Regulations. You should not be offended when when this is requested of you as your lawyer will need to have this information on record. Your Morden conveyancing practitioner will need to see evidence of proof of funds before they are able to accept any funds from you into their client account and they will also ask additional queries concerning the origin of monies.
My grandfather passed away six months ago and as sole heir and executor I was left the house in Morden. The house had a relatively small loan left on it of around £8000. I want to transfer the title deeds into my name whilst I re-mortgage to Aldermore, pay off the mortgage. Is this allowed?
If you plan to refinance then Aldermore will require that you use a conveyancer on the Aldermore conveyancing panel. Here is link to the Land Registry online guidance around what to do when a property owner dies. This will help you to understand the registration process behind changing the details re the registered title. in your case it would appear that you are effectively purchasing the property from the estate. Your Aldermore conveyancing panel solicitor pays the new mortgage money into the estate, the estate pays off the old mortgage, the charge is released and you become the owner and the Aldermore mortgage is registered as a charge at the Land Registry.
What does a local search inform me regarding the house I am buying in Morden?
Morden conveyancing often commences with the ordering local authority searches directly from your local Authority or through a personal search organisations such as Searchflow The local search is essential in every Morden conveyancing purchase; as long as you don’t want any unpleasant surprises after you move into your property. The search should reveal information on, amongst other things, details on planning applications applicable to the premises (whether granted or refused), building control history, any enforcement action, restrictions on permitted development, nearby road schemes, contaminated land and radon gas; in all a total of thirteen topic areas.
I have been pointed in your direction by a number of selling agents in Morden to choose a solicitor using your seach tool. Is there a financial advantage for Estate Agents to offer your lawyers over another?
We refuse to give any commission for directing people our way. We found it would be just too difficult a fee as a client could think, ‘Why is the agent getting a kickback? Why am I not receiving any benefit too?’ So we decided to step away from that.
Is it best to appoint a Morden conveyancing lawyer who is local to the property I am purchasing? An old friend can carry out the legal formalities but her office is a couple of hundredkilometers away.
The primary upside of using a local Morden conveyancing practice is that you can attend the office to sign paperwork, hand in your ID and apply pressure on them if necessary. Having local Morden know how is a benefit. However nothing is more important than finding someone that will pull out all the stops for you. If other friends have used your friend and on the whole were happy that should surpass using an unknown Morden conveyancing solicitor just because they are round the corner.