What is the first thing I need to know about purchase conveyancing in New Malden?
Not many law firms or advisers will tell you this but conveyancing in New Malden or throughout South West London is an adversarial process. In other words, when it comes to conveyancing there exists plenty of opportunity for friction between you and other parties involved in the transaction. For example, the vendor, estate agent and even potentially the lender. Appointing a law firm for your conveyancing in New Malden is a critical decision as your conveyancer is your adviser, and is the SOLE party in the legal process whose interest is to act in your legal interests and to keep you safe.
Every so often a third party with a vested interest may try and convince you that you should follow their advice. As an example, the selling agent may claim to be assisting by suggesting your conveyancer is wrong. Or your mortgage broker may tell you to do something that is contrary to your solicitors guidance. You should always trust your lawyer above all other parties when it comes to the legal transfer of property.
We had selected conveyancing lawyers located in New Malden on the Coventry BS solicitor panel. They have just invoiced me a supplemental fee for the legal aspects of the Coventry BS mortgage. Is this a supplemental conveyancing fee specified by Coventry BS?
Unfortunately, as long as it is in their Terms and Conditions or Quote then yes your conveyancing practitioner is entitled to charge a fee for this. The charge is not set by Coventry BS but by your New Malden solicitor. Numerous firms on the Coventry BS panel will charge an ‘acting for lender’ fee but some practices include it on their overall fee.
My partner and I are in the throws of looking at houses in New Malden and I am about to put in an offer. Should I already have a property lawyer in place at this stage? I intend to finance via a home loan with UBS.
It would be advisable to instigate your search sooner rather than later. Once you decide who you want to use and once your offer is accepted you can instruct them to work for you and pass their details on to the selling agent. As you are taking out a mortgage with UBS, make sure you remember to check that your lawyer is on the UBS conveyancing panel.
I am due to exchange contracts on my house. I had a double glazing fitted in June 2010, but did not receive a FENSA certificate or Building Regulation Certificate. My buyer's mortgage company, Kent Reliance are being problematic. The New Malden solicitor who is on the Kent Reliance conveyancing panel is happy to accept ‘lack of building regulation’ insurance but Kent Reliance are insisting on a building regulation certificate. Why do Kent Reliance have a conveyancing panel if they don't accept advice from them?
It is probably the case that Kent Reliance have referred the matter to their valuer. The reason why Kent Reliance may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing was correctly and safely installed. The indemnity insurance merely protects against enforcement action which is very unlikely anyway.
I have todaybecome aware that Action Conveyancing have been shut down. They carried out my conveyancing in New Malden for a purchase of a leasehold flat 9 months ago. How can I establish that my home is in my name in the name of the previous owner?
The quickest way to see if the premises is registered to you, you can carry out a search of the land registry (£3.00). You can either do this yourself or ask a law firm to do this for you. If you are not registered you can seek help from one of a number of New Malden conveyancing specialists.
I've recently found out that there is a flying freehold issue on a property I put an offer in two weeks back in what should have been a simple, no chain conveyancing. New Malden is the location of the property. What do you suggest?
Flying freeholds in New Malden are rare but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside New Malden you must be sure that your lawyer goes through the deeds very carefully. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in New Malden may determine that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold residence.
Given that I am about to spend £400,000 on 3 bedroom house in New Malden I wish to talk to a conveyancer about myhome move prior to giving the go ahead to the firm. Is this something that you can arrange?
This is something that we recommend - it is our preference to talk to you we do not take any clients on without you speaking to the conveyancer due to be carrying out your conveyancing in New Malden.There is no ‘factory style conveyancing’ - each client is an important person, not a file number. The solicitors that we put you in touch with believe that the figure you are calculated and presented to you for residential conveyancing in New Malden should be the figure that you are charged.
I am tempted by the attractive purchase price for a couple of maisonettes in New Malden which have in the region of 50 years remaining on the lease term. should I be concerned?
There is no doubt about it. A leasehold apartment in New Malden is a wasting asset as a result of the shortening lease. The nearer the lease gets to zero years unexpired, the more it adversely affects the salability of the premises. For most buyers and mortgage companies, leases with under eighty years become less and less attractive. On a more positive note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the property for two years (unlike a Section 13 notice for purchasing the freehold, when leaseholders can participate from day one of ownership). When successful, they will have the right to an extension of 90 years to the current term and ground rent is effectively reduced to zero. Before moving forward with a purchase of premises with a short lease term remaining you should talk to a solicitor specialising in lease extensions and leasehold enfranchisement. We are are happy to put you in touch with New Malden conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. More often than not it is possible to negotiate informally with the freeholder to extend the lease. They may agree to a smaller lump sum and an increase in the ground rent, but to shorter extension terms in return. You need to ensure that any new terms represent good long-term value compared with the standard benefits of the Section 42 Notice and that onerous clauses are not inserted into any redrafting of the lease.
Having spent years of dialogue we cannot agree with our landlord on how much the lease extension should cost for our flat in New Malden. Does the Leasehold Valuation Tribunal have jurisdiction to calculate the appropriate figures?
in cases where there is a missing landlord or where there is disagreement about what the lease extension should cost, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the First-tier Tribunal (Property Chamber) to make a decision on the price.
An example of a Lease Extension matter before the tribunal for a New Malden flat is Flat D 15 Claremont Gardens in September 2013. TheTribunal determined in accordance with section48 and Schedule13 of the Leasehold Reform,Housing and Urban Development Act 1993 that the premium for the extended lease should be fourteen thousand one hundred and eighty seven pounds (£14,187.00) This case related to 1 flat.