A loan agreement from HSBC for the refinancing of my 3 bedroom flat is due imminently. Can you put forward a low cost conveyancing law firm in Mayfair?
You are on the wrong site if you are in need of cut-price fees for conveyancing solicitors in Mayfair. We can offer you value for money conveyancing but our intention is not to advertise as being the cheapest. Avoid the trap of appointing companies enticing you with £100 conveyancing in Mayfair. Optimistically, in being led by low cost conveyancing, you will receive what you pay for and at worst you will end up invoiced for additional fees and still not get the service required.
We're in Mayfair, First time buyers buying with a mortgage (lender is HSBC , and our lawyer is on the HSBC conveyancing panel). How long should the conveyancing process take?
The fact that your lawyer is on the HSBC conveyancing panel is a help. It would almost certainly delay matters if they were not. However, no lawyer should guarantee a timeframe for your conveyancing, due to third parties outside of your control such as delays caused by lenders,conveyancing search providers or by the other side’s solicitors. The time taken is often determined by the number of parties in a chain.
I am purchasing my first flat in Mayfair with a mortgage from Accord Mortgages Ltd. The builders refused to reduce the amount so I negotiated £7000 of fixtures and fittings instead. The estate agent advised me not reveal to my lawyer about the extras as it could adversely affect my mortgage with the bank. Do I keep my lawyer in the dark?.
All lenders require a Disclosure of Incentives Form from the builder of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
I am looking for a flat up to £245,000 and found one close by in Mayfair I like with open areas and station in the vicinity, however it's only got 52 remaining years left on the lease. I can't really find anything else in Mayfair for this price, so just wondered if I would be making a grave error purchasing a short lease?
If you require a mortgage that many years will be an issue. Discount the price by the anticipated lease extension will cost if it has not already been discounted. If the current owner has owned the premises for at least 2 years you may ask them to commence the lease extension formalities and then assign it to you. An additional ninety years can be extended on to the current lease term with a zero ground rent applied. You should speak to your conveyancing lawyer concerning this.
My company is hoping to take an assignment of a lease of a shop on the high street. Can you recommend conveyancers offering no-move-no fees for non-domestic conveyancing in Mayfair for under £1,200?
We can recommend firms who have an in-depth of experience of commercial conveyancing in Mayfair, including the disposal and purchase of businesses as well as simply property. Whether you are looking to buy or lease a shop, pub, restaurant, office, retail unit or a whole business we will find you the right firm. Regarding the costs this will depend on the structure and nuances of the proposed transaction. Let us have your details or phone so as to enable us to provide you with a fixed commercial conveyancing quote.
I own a first floor flat in Mayfair. Given that I can not reach agreement with the landlord, can the Leasehold valuation Tribunal determine the premium payable for the purchase of the freehold?
in cases where there is a missing landlord or where there is dispute about the premium for a lease extension, under the relevant statutes you can apply to the First-tier Tribunal (Property Chamber) to calculate the premium.
An example of a Lease Extension case for a Mayfair flat 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 affected 1 flat. The remaining number of years on the lease was 21 years.
What are the frequently found problems that you see in leases for Mayfair properties?
Leasehold conveyancing in Mayfair is not unique. Most leases are individual and drafting errors can result in certain sections are erroneous. The following missing provisions could result in a defective lease:
A provision to repair to or maintain parts of the building Maintenance charge proportions which don’t add up to the correct percentage
You may have difficulties when selling your property if you have a defective lease as they can affect a potential buyer’s ability to obtain a mortgage. Santander, Bank of Scotland, and Platform Home Loans Ltd all have express conveyancing instructions when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease does not cover certain provisions they may refuse to provide security, obliging the purchaser to pull out.