My solicitor has identified a a problem with the lease for the apartment we are buying in Morden. The seller’s lawyers have put forward title insurance as a solution. We are content with insurance and will pay for it. Our lawyer has advised that he must check that the lender is content with this solution. Are we the client or is the lender?
The short answer to your last question is that, notwithstanding the potential for a conflict of interest, you and the mortgage company are the client. Your conveyancing practitioner must comply with the UK Finance Lenders’ Handbook provisions. The UK Finance Lenders’ Handbook conditions require your lawyer to disclose issues such as defects with the lease so that the bank can be afforded the opportunity to check with their valuer as to the extent that the value of the property is affected. Should you refuse to allow your lawyer to make the appropriate notification then your lawyer will have no choice but to discontinue acting for you.
Is there a reason why leasehold purchase conveyancing in Morden costs more?
The conveyancing costs on a leasehold premises in Morden is inevitably higher as compared to a freehold residence. This is due to the supplemental work required in communicating with the freeholder and managing agents to obtain evidence concerning whether the rent and maintenance charges have been cleared and whether there are any large sums expected to be spent in the foreseeable future on repairs or maintenance of the block.
I am considering applying for a HSBC mortgage for purchase of a newly converted (under development) in Morden with 70% loan to value. Is it compulsory to choose a solicitor on the conveyancing panel for HSBC ?
There is nothing to stop you using your solicitor, but HSBC will insist on their interests being represented by a firm on their conveyancing panel. There is greater potential for delays and confusion with an additional lawyer added to the mix, and it will undoubtedly be more expensive too.
Me and my partner are buying a flat in Morden. It might be a silly question but how we can trust a solicitor? At some point we have to deposit our life savings into their account. What is the protection we have from them run away with our money?
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.
I am expecting a AIP from Principality this week so we know how much we could potentially offer as otherwise we are dependent on web based calculators (which aren't taking into account credit checks etc). Do Principality recommend any Morden solicitors on the Principality conveyancing panel, or is it better to find our own lawyer?
You will need to appoint Morden solicitors independently although you'll need to choose one on the Principality conveyancing panel. The solicitor represents both you and Principality through the process.
After shopping around on the internet I have found a Morden lawyer having checked that they are on the Aldermore conveyancing panel. Does my lawyer arrange the survey of the property?
Aldermore will need an independent valuation of the property. Your lawyer will not arrange this. Usually Aldermore will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey. You may wish to consider appointing your own Morden surveyor to carry out a survey or prepare a home buyers report on the property. It is up to you to satisfy yourself that the property is structurally sound before you buy it. If the survey or report reveals that building work is needed, you should tell your solicitor. You may wish to renegotiate with the seller.
I used Stirling Law several years ago for my conveyancing in Morden. Now, I need my files however the law firm has closed. What do I do?
Do call the Solicitors Regulatory Authority (SRA) to assist in tracking down your conveyancing files. They can be contacted on please contact on 0870 606 2555. Alternatively, you should use their online form to make an enquiry. You will need to provide the SRA with as much information as possible to assist their search, including the name and address in Morden of the conveyancing firm of solicitors you previously retained, the name of conveyancing solicitor with whom you had dealings, and the date on which you last had dealings with the firm.
I am are seeking to find a trustworthy conveyancing lawyer in Morden to purchase a house. I I am fearful of by bill escalating out of control and there's plenty Morden conveyancing solicitors out there...who do I opt for?
If you’ve not used a conveyancer in the past, a personal recommendation via family or friends is a great place to start and is often the best indicator of quality. Alternatively, consult the Law Society’s online directory of lawyers in Morden or use our search facility to find a conveyancing solicitor in Morden.