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Find a Old Malden Conveyancing Solictior on Your Lender’s Panel

Ready to buy a new home in Old Malden? Failing to check that a lawyer is on your lender’s list of approved solicitors can put your Old Malden home move at risk of delay or failure.

Only LenderPanel.com provides a subset of authorised Old Malden conveyancers for over 130 lenders.


Recently asked questions about conveyancing in Old Malden

Me and my partner are acquiring our first house. The conveyancer has texted usto check if we want to order additional conveyancing searches. We are really unsure what's relevant for conveyancing in Old Malden

The type of Old Malden conveyancing searches should be dictated primarily on the property, the location, the probability of any of these risks, your knowledge of the locality and risks, your general approach to risk. What matters is that you adequately appreciate what information each search could provide. Then you can decide if you personally think you need that search. If unclear, ask the conveyancer to recommend.

Why is leasehold purchase conveyancing in Old Malden is more expensive?

Old Malden leasehold properties involve far more paperwork than a freehold purchase, and therefore takes more time to examine and advise upon.Conveyancing will involve the lease having to be checked which is usually a lengthy document, queries raised to ensure that the covenants and conditions have been observed. If it is a flat there will be a management company in existence and the accounts of this will need to be checked and enquiries raised to ensure it is operating efficiently and that all monies due have been paid by the Seller to the company and if not ensuring that money is paid up to date or the appropriate undertakings obtained.

I own a terraced Edwardian property in Old Malden. Conveyancing practitioner represented me and Alliance & Leicester . I did a free Land Registry search last week and I saw a couple of entries: one for freehold, the second leasehold with the matching address. If a house is not a freehold shouldn't I have been informed?

You need to review the Freehold register you have again and check the Charges Register as there may be mention of a lease. The best way to be sure that you are also the registered proprietor of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Old Malden and other areas of the country and poses no real issues for owners other than when they mortgage they have to account for both freehold and leasehold interests when dealing with buyers. You can also enquire as to the situation with your conveyancing solicitor who conducted the conveyancing.

I am looking for a flat up to £305k and found one near me in Old Malden I like with amenity areas and station in the vicinity, the downside is that it's only got 52 remaining years left on the lease. There is not much else in Old Malden suitable, so just wondered if I would be making a mistake purchasing a lease with such few years left?

If you need a home loan the shortness of the lease will be an issue. Reduce the offer by the expected lease extension will cost if it has not already been discounted. If the current owner has owned the property for a minimum of twenty four months you may request that they start the process of the extension and then assign it to you. An additional ninety years can be extended on to the current lease with a zero ground rent applied. You should speak to your conveyancing lawyer about this.

Our conveyancer in Old Malden has identified a a legal deficiency with the lease for the property we are purchasing in Old Malden. The other side have put forward title insurance as a solution. We are happy with insurance and will pay for it. Our solicitor says that as he is on the bank conveyancing panel he must check that the lender is happy with this solution. Are we the client or is the lender?

The short answer to your last question is that, notwithstanding the potential for a conflict of interest, you and the lender are the client. A precondition to being on the bank approved panel is to comply with the UK Finance Lenders’ Handbook requirements. The UK Finance Lenders’ Handbook conditions require your lawyer to disclose issues such as defects will the lease so that the mortgage company can be afforded the opportunity to check with their valuer as to the extent that the value of the property is affected . Should you refuse to allow your lawyer to make the appropriate notification then your lawyer will have no choice but to discontinue acting for you.

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Find out more about how flying freehold can affect your the value of a property.