The New Malden conveyancing firm handling our New Malden conveyancing has discovered an inconsistency between the assumptions in the home valuation survey and what is in the conveyancing documents. My lawyer says that he must check that the bank is OK with this discrepancy and is content to go ahead. Is my conveyancer’s approach legitimate?
Your solicitor must comply with the UK Finance Lenders’ Handbook requirements which do require that your lawyer disclose any incorrect assumptions in the lender’s valuation report and the legal papers. Should you refuse to allow your lawyer to make the appropriate notification then your lawyer will have no choice but to discontinue acting for both parties.
I purchased a freehold premises in New Malden but still invoiced for rent, why is this and what is this?
It is rare for properties in New Malden and has limited impact for conveyancing in New Malden 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 hundreds of years, but the Rent Charge Act 1977 barred the creation of new rentcharges post 1977.
Old rentcharges can now be extinguished by making a lump sum payment under the Act. Any rentcharges that are still in existence after 2037 is to be extinguished.
Can you point me to a directory of Principality panel solicitors in New Malden on the UK Finance Lenders’ Handbook Website?
Unfortunately not yet. There is no such directory service on the Council of Mortgage Lenders or Building Society Association websites. A small selection of lenders make their panel listings open the public on the web. If you are looking for a New Malden solicitor on the Principality please use our tool.
Can I be sure that the New Malden conveyancing solicitor on the Virgin Money panel is any good?
When it comes to conveyancing in New Malden obtaining recommendations is a sensible 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 advertising the lowest fees. We would always advise that you speak with the solicitor handling your transaction.
The formalities of my purchase has taken place for my property in New Malden. Conveyancing was of an acceptable standard but I would like to complain about the lender. How does one go about formally complaining?
Almost all banks and building societies have complaints procedures. Your first port of call 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. If you feel the matter is not resolved you can write to Financial Ombudsman Service who will take matters further.
How does conveyancing in New Malden differ for newly converted properties?
Most buyers of new build premises in New Malden contact us having been asked by the housebuilder to sign contracts and commit to the purchase even before the residence is finished. This is because house builders in New Malden tend to purchase the land, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct property lawyers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are used to new build conveyancing in New Malden or who has acted in the same development.
Yesterday I discovered that there is a flying freehold element on a property I have offered on a fortnight ago in what was supposed to be a straight forward, 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 thoroughly. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in New Malden may ascertain 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 property.
As co-executor for the estate of my aunt I am disposing of a residence in Newport but live in New Malden. My lawyer (who is 300 miles from mehas requested that I sign a stat dec prior to the transaction finalising. Can you recommend a conveyancing lawyer in New Malden who can attest this legal document for me?
Technically speaking you are unlikely to be required to have the documents witnessed by a conveyancing solicitor. Normally any notary public or qualified solicitor will be fine regardless of whether they are located in New Malden