We are purchasing a new build apartment in Mayfield and my solicitor is telling me that she has to the lender to disclose incentives from the builder. I am on a tight deadline to sign contracts and my preference is not to delay matters. Is my lawyer right?
You should not exchange unless you have been advised to do so by your lawyer. A precondition to being on a bank panel is to comply with the UK Finance Lenders’ Handbook requirements. The CML Conveyancing Handbook requires that your lawyer have the appropriate Disclosure of Incentive form completed by the developer and accepted by your lender.
I'm the single beneficiary of my late mum's estate and I have everything in my name alone, including the my former home in Mayfield. The Mayfield property was put into my name in March. I now wish to sell up. I understand that there is a Mortgage Lenders 6 month 'rule', meaning my property ownership will be considered the same way as if I'd bought the property in March. Is the property unsalable for six months?
The Council of Mortgage Lenders’ handbook requires conveyancers to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." By the strict wording you may be impacted by that. Most mortgage companies would take a sensible view as this provision is principally there to capture subsales or the flipping of property.
Is it correct that all Mayfield CQS (Conveyancing Quality Scheme) solicitors are on the Virgin Money conveyancing panel?
A selection of lenders now utilise the accreditation scheme as the starting point for Panel membership such as HSBC and Santander. CQS membership however gives no guarantee to lender panel acceptance. That being said,the Council of Mortgage Lenders have indicated that it is likely to become a pre-requisite for solicitors wishing to remain on their approved list of conveyancing solicitors.
About to purchase apartment in Mayfield. I have received an online quote from a licenced conveyancer, which states: "There will be no charge for dealing with the Building Society if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the RBS conveyancing panel. I wanted to make sure it means there will be no additional fees for dealing with the mortgage.
They are simply saying that the cost for acting for the lender is included in the fee being quoted. It is worth you checking that the Mayfield solicitor is on the RBS conveyancing panel.
We are planning on selling our home in Mayfield and the buyers lawyers are claiming that there is a possibility that the property was built land that was not decontaminated. Any local lawyer would know this is not the case. For the life of me I don't know why the purchasers instructed a web based conveyancing firm rather than a conveyancing solicitor in Mayfield. Having lived in Mayfield for 5 years we know that this is a non issue. Is it a good idea to contact our local Authority to obtain confirmation need.
It would appear that you have a conveyancing solicitor already. What do they say? You must enquire of 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 life insurance to cover that same illness)
Just had an offer accepted on a new build apartment in Mayfield. Conveyancing is necessary evil at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build conveyancing.
Set out below is a sample of a few leasehold new build questions that you should expect your new-build leasehold conveyancing in Mayfield
-
Please supply a car parking plan. Please provide evidence that the form of Lease proposed has been approved by the Land Registry. Will control of the Management Company (if any) be handed over to purchasers on completion of the last sale or earlier? The Vendor must covenant to keep unsold units in good repair until long leases are granted therefore. Investor purchasers must be able to freely grant unsecured tenancies at market rents without requiring any consents.
Hoping to buy a property located in Mayfield and I am already nervous. I couldn't find anything specific about Mayfield. Conveyancing will be needed in due course but do you know about the Mayfield area? or perhaps some other tips you can share?
Rather than looking online forget looking online you should go and have a look at Mayfield. In the meantime here are some basic statistics that we found
I have just started marketing my garden flat in Mayfield. Conveyancing is yet to be initiated, but I have recently had a yearly service charge invoice – what should I do?
Your conveyancing lawyer is likely to suggest that you should discharge the service charge as normal because all ground rent and maintenance payments should be allotted as part of the financial calculations for completion monies, so you will be reimbursed by the purchaser for the period running from after the completion date to the next payment date. Most managing agents will not acknowledge the buyer unless the service charges have been paid and are up to date, so it is important for both buyer and seller for the seller to show that they are up to date. Having a clear account will assist your cause and will leave you no worse off financially.
Mayfield Conveyancing for Leasehold Flats - Sample of Queries before buying
-
How many of the leaseholders are in arrears for their service charge payments? Does the lease have onerous restrictions?