I have paid off my mortgage with RBS. I assume I don't need a Morden Park conveyancing practitioner on the RBS panel to remove the mortgage at the Land Registry. Please confirm.
If you have finished paying off your RBS mortgage, they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the RBS mortgage from the register. RBS, and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:
- but are not moving to another property
- where RBS has sent the Land Registry the discharge electronically, and
- RBS has instructed the Land Registry to do so
It is unclear whether my mortgage offer requires a lease extension. I have called my Morden Park building society branch on numerous occasions and was told it does not affect the mortgage offer and they would lend. My Morden Park conveyancing solicitor - who is on the lender conveyancing panel- called and was told they refuse to lend in accordance with their specific requirements. I have no idea who is right.
Provided that the property lawyer is on the mortgage company approved list, they must follow the Council of Mortgage Lenders’ Handbook provisions 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 bank to contact your lawyer in writing confirming that they will accept the number of years left on the lease.
My sealed bid on a house in Morden Park has been agreed to, the vendors do however have a dependent purchase. The sellers have offered on a property, however it’s not yet agreed to, and are looking at other flats booked. I have instructed a nearby conveyancing solicitor in Morden Park. What should be my next step? At what stage do I apply for the mortgage with Clydesdale?
It is usual to have concerns where there is a chain as you are unlikely to want to incur expenses too early (home loan application is approx £1k, then valuation, Morden Park conveyancing search charges, etc). The first course of action is to ensure that your lawyer is on the Clydesdale approved list. As to the subsequent phase this very much depends on the specifics of your case, attraction to this property and on the state of the market. During a buoyant market many buyers will apply for a home loan with Clydesdale and arrange for the valuation and only if it was satisfactory would they ask their solicitor to move forward with searches.
I am close to exchanging contracts on the sale of our home in Morden Park and according to the buyers it appears that there is a risk of it being constructed land that was not decontaminated. A local lawyer would know this is not the case. For the life of me I don't know why the buyers used a national conveyancing practice rather than a conveyancing solicitor in Morden Park. We have lived in Morden Park for six years we know that this is a non issue. Do we contact our local Authority to seek clarification need.
It would appear that you have a conveyancing firm already. What do they say? You need to check with your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out health insurance to cover that same sickness)
I'm buying my first flat in Morden Park with a loan from Clydesdale. The sellers refused to reduce the price so I negotiated 6k of additionals instead. The property agent suggested that I not inform my solicitor about the deal as it will adversely affect my mortgage with Clydesdale. Do I keep my lawyer in the dark?.
All lenders require a Disclosure of Incentives Form from the developer 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.
I am using a search engine for the term cheap conveyancing in Morden Park it brings up many property lawyersin the vicinity. How do I determine which is the right solicitor for the sale of my house?
The ideal method of seeking the right conveyancer is via trusted testimonial, so enquire of colleagues and those you trust who have bought a property in Morden Park or a local estate agent or financial adviser. Costs for conveyancing in Morden Park differ, so it's sensible to secure a minimum of three estimates from varying types of companies. Dont forget to clarify what costs in the quote includes.
I work for a busy estate agent office in Morden Park where we see a few flat sales put at risk as a result of short leases. I have been given contradictory information from local Morden Park conveyancing solicitors. Please can you confirm whether the vendor of a flat can instigate the lease extension formalities for the purchaser on completion of the sale?
Provided that the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to commence the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the buyer need not have to sit tight for 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment has to be done before, or simultaneously with completion of the disposal of the property.
Alternatively, it may be possible to extend the lease informally by agreement with the landlord either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the buyer.
I am the registered owner of a basement flat in Morden Park. In the absence of agreement between myself and the landlord, can the Leasehold valuation Tribunal make a decision on the amount due for the purchase of the freehold?
Most certainly. We are happy to put you in touch with a Morden Park conveyancing firm who can help.
An example of a Lease Extension decision 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 affected 1 flat. The unexpired term was 60.43 years.
My wife and I accepted an offer on a Morden Park house left to us some years ago in 2010. I have over 12 years conveyancing know-how and, although retired, see no reason not to conduct the legal work. The buyer's conveyancing practitioner has informed me that their building society will not allow us to do our own conveyancing requiring the funds to be sent to a solicitor's bank account.
Lending instructions to lawyers from all CML members state that If the seller is not legally represented the buyer’s lawyers should check whether the lender needs to be informed so that a decision can be reached as to whether they are willing to proceed.