I am the registered owner of a freehold premises in Morden Park yet pay rent, why is this and what is this?
It’s unusual for properties in Morden Park and has limited impact for conveyancing in Morden Park 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 many centuries, but the Rent Charge Act 1977 barred the generation of fresh rentcharges from 1977 onwards.
Old rentcharges can now be extinguished by making a one off payment under the Act. Any rentcharges that are still in existence after 2037 will be dispensed with completely.
How can we know in advance if a Morden Park conveyancing solicitor on the Virgin Money panel is any good?
When it comes to conveyancing in Morden Park getting recommendations is a good start. Before you go ahead, check if they offer a no sale no fee offer. Also, you often get what you pay for - a firm which quotes more, will often provide a better service than one which is cheap as chips. We would always advise that you speak with the solicitor handling your conveyancing.
Completion of my remortgage has taken place for my property in Morden Park. Conveyancing was of an acceptable standard but I feel I should register my dissatisfaction about the lender. How does one go about formally complaining?
Most banks and building societies have complaints procedures. Your first point of contact should be one of the lender’s branches or the Customer Care Department at head office. We understand that complaints to a lender are sorted out effectively and efficiently. However if you are not satisfied that the matter is not resolved you can write to Financial Ombudsman Service, South Quay Plaza, 183 Marsh Wall, London E14 9SR with full details of your complaint.
It is not clear whether my bank requires a lease extension. I have called into my local Morden Park bank branch on various occasions and was told they are content with the situation and they would lend. My Morden Park conveyancing solicitor - who is on the bank conveyancing panel- telephoned to say that they would not lend in accordance with their specific requirements. Who do I believe?
As long as the conveyancing practitioner is on the mortgage company approved list, she or he must adhere to the CML Handbook requirements for the bank. 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 lender to contact your lawyer in writing confirming that they will accept the number of years remaining.
I'm purchasing my first flat in Morden Park with the aid of help to buy. The sellers refused to reduce the price so I negotiated 6k of additionals instead. The house builders rep suggested that I not reveal to my conveyancer about this extras as it may affect my loan with the lender. Is this normal?.
All lenders require a Disclosure of Incentives Form from the builder of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
My business partner and I are intending to take an assignment of a lease of an office on a shopping parade. Can you recommend solicitors offering competitive fees for commercial conveyancing in Morden Park for below 2k?
We are happy to recommend firms who host a wealth of experience of commercial conveyancing in Morden Park, including the sale and purchase of businesses as well as simply premises. Whether you are intending to purchase or dispose of a shop, pub, restaurant, office, retail unit or a complete business we will find you the right firm. As for the charges these will vary based on the structure and heads of terms of the deal. Let us have your details or telephone us so that we may provide you with a detailed commercial conveyancing calculation.
As co-executor for the estate of my grandfather I am selling a property in Neath but live in Morden Park. My solicitor (based 235 kilometers from merequires that I execute a stat dec before the transaction finalising. Could you suggest a conveyancing solicitor in Morden Park who can witness and place their company stamp on the document?
Technically speaking you are unlikely to be required to have the documents witnessed by a conveyancing solicitor. Normally any notary public or solicitor will be fine regardless of whether they are Morden Park based
My aim is to acquire a ground floor maisonette in Morden Park. Conveyancing lawyer is waiting for, from the vendor, building insurance schedule. This afternoon I was advised that the seller must send the insurance paperwork for the flat above also. Why would my property lawyer need to review the insurance for the other flat? Is it strictly required? We have been waiting for the last three weeks…
It is not unheard of in leasehold conveyancing in Morden Park to discover Conveyancing in Morden Park in a minority of cases reveals that the lease obliges the leasehold owners to insure their individual flats rather than the freeholder insuring the entire property - which is definitely preferable. Do clarify with your lawyer but it would seem that your conveyancer is looking to verify that the entire building is insured. Insuring a ground floor residence is no help when it comes to rebuilding after a fire if the other flat cannot be reinstated as a result of lack of insurance.