My fiance and I are buying a ground floor flat in Mayfield. My Solicitor has never been on on the mortgage company approved panel. Can I still retain my Mayfield conveyancing solicitor even though they are not on the lender panel?
Various options include
- Complete the purchase with your chosen Mayfield conveyancing practitioner but your mortgage company will no doubt use a conveyancer from their conveyancing panel. The net result is additional fees together with potential frustration.
- Choose a new solicitor to conduct the conveyancing, making sure they are on the lender conveyancing panel.
- Convince your property lawyer to pull out all the stops to join the mortgage company conveyancing panel
At what point does exchange of contracts occur in residential conveyancing in Mayfield and am I required to attend the solicitors office?
If you are round the corner to our conveyancing solicitors in Mayfield you are invited in to sign documents. That being said, the lender approved solicitors we recommend supply countrywide coverage for conveyancing and provide as equally diligent and professional a job for you when communicating with you digitally. The executing of the contract is not when everything is set in stone. Signing on the dotted line is necessary for the conveyancer to address the formalities at the suitable time, which will usually be very shortly after signing. The procedure is is usually a five minute process, although where a long "chain" is in the mix, since the process requires the relevant party's solicitor (not necessarily a conveyancing solicitor in Mayfield)to be in the office available at the end of the phone to exchange contracts.
We're in Mayfield, First timers buying with a mortgage (lender is Yorkshire BS , and our solicitor is on the Yorkshire BS conveyancing panel). How long should the conveyancing process take?
The fact that your lawyer is on the Yorkshire BS conveyancing panel is a help. It would almost certainly delay matters if they were not. However, no conveyancer 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.
Do I need to take out insurance to protect me from financial exposure to chancel repairs when buying a house in Mayfield?
Unless a prior acquisition of the property took place post 12 October 2013 you can take it that conveyancing practitioners delivering conveyancing in Mayfield to continue to advocate a chancel search and or chancel repair liability insurance.
How does conveyancing in Mayfield differ for new build properties?
Most buyers of new build residence in Mayfield come to us having been asked by the developer to exchange contracts and commit to the purchase even before the house is ready to move into. This is because builders in Mayfield typically acquire the land, 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 property lawyers 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 used to new build conveyancing in Mayfield or who has acted in the same development.
My wife and I purchased a leasehold flat in Mayfield. Conveyancing and Platform Home Loans Ltd mortgage went though with no issue. I have received a letter from someone claiming to own the reversionary interest in the property. It included a ground rent demand for rent dating back to 1991. The conveyancing practitioner in Mayfield who acted for me is not around. Do I pay?
First contact the Land Registry to be sure that the individual purporting to own the freehold is in fact the registered owner of the freehold reversion. You do not need to incur the fees of a Mayfield conveyancing practitioner to do this as you can do this on the Land Registry website for a few pound. Rest assured that in any event, even if this is the legitimate landlord, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
Mayfield Conveyancing for Leasehold Flats - Sample of Questions you should consider before Purchasing
The majority of Mayfield leasehold apartments will incur a service charge for maintenance of the block set on behalf of the freeholder. Where you acquire the apartment you will have to pay this contribution, normally in instalments throughout the year. This may be anything from a couple of hundred pounds to thousands of pounds for blocks with lifts and large communal areas. There will also be a ground rent for you to pay yearly, normally this is not a large amount, say about £25-£75 but you should to enquire as occasionally it can be prohibitively expensive. You should want to discover as much as you can regarding the managing agents as they will either make your living at the property much simpler or a lot more difficult. Being a leasehold owner you are often in the clutches of the managing agents both financially and when it comes to every day issues such as the tidiness of the communal areas. Ask prospective neighbours if they are happy with their management. In conclusion, be sure you understand the dates that you are obliged pay the maintenance charge to the appropriate party and precisely what it includes.