Me and my husband are acquiring a leasehold flat in Morden Park. My lawyer is not on the lender conveyancing panel. Am I still permitted to use my Morden Park conveyancing solicitor notwithstanding that they are not on the mortgage company panel of approved conveyancing solicitors?
You have a number of choices available to you here
- Carry on with your existing Morden Park conveyancer but your bank will need to instruct a conveyancing practitioner on their approved list. This will result in additional charges together with probable delay.
- Get a new lawyer to act in the purchase, making sure they are on the mortgage company conveyancing panel.
- Convince your lawyer to seek to join the lender panel
How do I discover of the solicitor carrying out my conveyancing in Morden Park is on the lender’sapproved panel? I am looking to avoid the situation of having one lawyer for me and one for Halifax thus paying £175.00 in further conveyancing invoice.
Feel free to make use of the search tool on this site. Pick the lender and type ‘Morden Park’ or your preferred area and you will see numerous solicitors offices in Morden Park or near you.
five months have elapsed following my purchase conveyancing in Morden Park completed. I have checked the Land Registry site which shows that I paid £175,000 when infact I paid £170,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the asset from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
I opted to have a survey done on a property in Morden Park prior to instructing lawyers. I have been advised that there is a flying freehold aspect to the property. Our surveyor advised that some mortgage companies may not give a mortgage on a flying freehold house.
It depends who your proposed lender is. HSBC has different instructions from Nationwide. Should you wish to telephone us we can check via the appropriate mortgage company. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Morden Park. Conveyancing will be smoother if you use a solicitor in Morden Park especially if they are familiar with such properties in Morden Park.
I have had difficulty in trying to purchase the freehold in Morden Park. Can the Leasehold Valuation Tribunal adjudicate on premiums?
Absolutely. We can put you in touch with a Morden Park conveyancing firm who can help.
An example of a Lease Extension case for a Morden Park residence is 33 The Maisonettes Alberta Avenue in June 2014. the Tribunal decided that the premium payable for the grant of a new lease be the sum of £20,680 (Twenty Thousand six hundred and eighty pounds). This case related to 1 flat. The unexpired term was 60.43 years.
When it comes to leasehold conveyancing in Morden Park what are the most frequent lease defects?
There is nothing unique about leasehold conveyancing in Morden Park. Most leases are drafted differently and drafting errors can sometimes mean that certain sections are wrong. For example, if your lease is missing any of the following, it could be defective:
-
Repairing obligations to or maintain parts of the property Service charge per centages that don't add up correctly leaving a shortfall
A defective lease can cause issues when trying to sell a property primarily because it impacts on the ability to obtain a mortgage on the property. National Westminster Bank, The Royal Bank of Scotland, and Bank of Ireland all have express conveyancing instructions when it comes to what is expected in a lease. If a mortgage lender believes that the lease is problematic they may refuse to grant the mortgage, forcing the purchaser to withdraw.
I am buying a house with all finances in place. I have provided conveyancer with two distinct proof of photo ID, bank statement, endless utility bills. Now he requires a copy from a probate lawyer acknowledging that the funds are legitimate and that it has come from inheritance and not via illegitimate means.
For some years now requires conveyancing solicitors as well as banks, building societies and other financial institutes to obtain satisfactory evidence of the identity of the client. This is because solicitors who deal with money and property on behalf of their clients can be used by criminals wishing to launder money. In order to comply with the law of money laundering, your Morden Park conveyancing lawyer will need to obtain evidence of your identity as as well as make sure that your funds are legitimate.