My previous conveyancer has given a fee estimate £1200 for leasehold conveyancing in Mayfair. I am hoping to sell a Edwardian house for £200,000. This seems expensive. Is it above what I should be paying for conveyancing in Mayfair?
The quote is fractionally on the high side. Where you are content to invest time comparing charges you could shave off some of the cost by say £100 plus VAT. That being said, you maycome to rue choosing an an unknown solicitor. If is important to check that the conveyancer can also act for your bank. You can employ our comparison tool to choose a Mayfair conveyancing practice on the lender’s approved list of lawyers which can often include conveyancing solicitors in Mayfair.
I am the registered owner of a freehold premises in Mayfair but still pay rent, why is this and what is this?
It’s unusual for properties in Mayfair and has limited impact for conveyancing in Mayfair 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 establishment of new rentcharges from 1977 onwards.
Old rentcharges can now be extinguished by making a one off payment under the Act. Any rentcharges that are still in existence post 2037 will be dispensed with completely.
Are there restrictive covenants that are commonly identified as part of conveyancing in Mayfair?
Covenants that are restrictive in nature can be picked up when reviewing land registry title as part of the legal transfer of property in Mayfair. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
How does conveyancing in Mayfair differ for new build properties?
Most buyers of new build premises in Mayfair contact us having been asked by the seller to exchange contracts and commit to the purchase even before the premises is constructed. This is because developers in Mayfair tend to buy the real estate, 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 conveyancers 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 accustomed to new build conveyancing in Mayfair or who has acted in the same development.
Given that I am about to part with £400,000 on a two bedroom apartment in Mayfair I wish to talk to a conveyancer concerning thehome move prior to instructing the firm. Can this be arranged?
We could not agree more - it is our preference to talk to you we do not take any clients on without you first talking to the conveyancer who will be carrying out your property ownership legalities in Mayfair.There is no ‘factory style conveyancing’ - every client is unique person, not a matter number. The solicitors that we put you in touch with believe that the fees you are provided with for residential conveyancing in Mayfair should be the amount on the final invoice that you are charged.
Having had my offer accepted I require leasehold conveyancing in Mayfair. Before diving in I want to be sure as to the unexpired term of the lease.
If the lease is registered - and 99.9% are in Mayfair - then the leasehold title will always include the short particulars of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title. For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.
I am the registered owner of a a ground floor purpose built flat in Mayfair. Given that I can not reach agreement with the freeholder, can the Leasehold valuation Tribunal determine the amount due for the purchase of the freehold?
Most certainly. We can put you in touch with a Mayfair conveyancing firm who can help.
An example of a Lease Extension matter before the tribunal for a Mayfair residence is Flat 1 3 Upper Belgrave Street in December 2010. The Tribunal determined that the price payablefor the Lease extension in respect of the subject premises was £2,202,007 This case was in relation to 1 flat. The unexpired lease term was 21 years.