My fiance’s uncle is a property lawyer. I suspect that I will receive preferential pricing for conveyancing, However if that does not come through, what level of costs would I typically be looking at for conveyancing in Mayfair?
It’s wise to look for two or three conveyancing estimates. Make use of our comparison tool on this site. You will notice that amounts will be different but the service one can expect differ between conveyancers as is the case with the vast majority of professional services.
Completed the sale of my flat in Mayfair last January yet the purchaser is SMS messaging daily to moan that their solicitor is waiting to hear from mine. What are the post completion sale formalities now that I have sold?
Post completion of your disposal your lawyer should send the transfer deeds and all additional paperwork to the buyer’s conveyancer. Depending on the transaction, your conveyancer should also confirm that the home loan has been repaid to the purchasers lawyers. There are no post completion steps peculiar conveyancing in Mayfair.
Please explain the implications if my solicitor is expelled from the Coventry BS Conveyancing panel ahead of completing my conveyancing in Mayfair?
First, this is very unlikely to happen. In most cases even where a law firm is removed off of a panel the lender would allow the completion to go ahead as the lender would appreciate the difficulties that they would place you in if you have to instruct a new solicitor days before completion. In a worst case scenario where the lender insists that you instruct a new firm then it is possible for a very good lawyer to expedite the conveyancing albeit that you may pay a significant premium for this. The analogous situation is where a buyer instructs a lawyer, exchanges contracts and the law firm is shut down by a regulator such as the SRA. Again, in this situation you can find lawyers who can troubleshoot their way to bring the conveyancing to a satisfactory conclusion - albeit for a fee.
We expect to receive a DIP from TSB this week so we know how much we could potentially offer as otherwise we are dependent on web based calculators (which aren't taking into account credit checks etc). Do TSB recommend any Mayfair solicitors on the TSB conveyancing panel, or is it better to go independently?
You will need to appoint Mayfair solicitors independently although you'll need to choose one on the TSB conveyancing panel. The solicitor represents both you and TSB through the process.
Intending to buy a house in Mayfair. I have received an online quote from a licenced conveyancer, which states: "There will be no charge for dealing with the Lender if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the Nottingham 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 Mayfair solicitor is on the Nottingham conveyancing panel.
I was told two weeks ago that my mortgage has been agreed to by Nationwide. Is it usual for Nationwide to only issue the offer once my solicitor in Mayfair is approved on their conveyancing panel? Nationwide have asked my solicitor to see a copy of their PI Insurance.
Mortgage companies tend not to not issue a mortgage until they have details of a lawyer on their panel. It can take a few weeks for Nationwide to deal with your lawyer's application to be on the Nationwide conveyancing panel. There's no guarantee that your solicitor will be accepted.
I'm purchasing my first flat in Mayfair with the aid of help to buy. The builders would not budge the price so I negotiated 6k of additionals instead. The house builders rep advised me not inform my lawyer about the side-deal as it would 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.
Yesterday I discovered that there is a flying freehold issue on a house I put an offer in last month in what should have been a quick, no chain conveyancing. Mayfair is where the house is located. Can you offer any opinion?
Flying freeholds in Mayfair are rare but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Mayfair you must be sure that your lawyer goes through the deeds very carefully. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Mayfair 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.