I am not well enough to travel far from Markyate. Is there a reason why all Markyate property lawyers are not on all lender panels?
A decade ago most banks displayed an attitude to risk which is different from today. The FSA in 2010 conducted a thematic review into mortgage fraud which concluded: know the conveyancers on your panel. Consequently, mortgage companies have subsequently looked to extract more information from law firms regarding their operations and the individuals employed by them and set certain criteria such as completing a minimum volume of transactions. Many law practices have been excluded from lender panels even though they had 100% healthy track record, no complaints and no claims and didn't just 'dabble' in conveyancing. Many firms found it impossible meet the minimum volume of transactions the mortgage companies insisted on.
Me and my partner are about to complete buying a property in Markyate but as a result of damage from a small fire at the property I have managed to agree recompense from the seller of £2k by way of a deduction in the price. This was going to be addressed as part of amending the contract yet Yorkshire BS are not allowing this. Should they have been involved?
The solicitor being on the Yorkshire BS approved list is obliged to inform Yorkshire BS of any amendments to the purchase price. If you were to refuse your lawyer to notify the price change to Yorkshire BS then they would have to discontinue acting for you. In addition, Yorkshire BS and you would have to appoint a new lawyer for your conveyancing in Markyate.
I am told that my conveyancing solicitors will need to check that the building insurance when buying a house in Markyate. My lender is Accord Mortgages
Accord Mortgages have specific requirements as set out in the UK Finance Lenders’ Handbook. As of 5/6/2026, the requirements read as follows :
It has been five months following my purchase conveyancing in Markyate concluded. I have checked the Land Registry site which shows that I paid £200,000 when infact I paid £160,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the premises from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
Yesterday I discovered that there is a flying freehold issue on a property I have offered on two weeks back in what was supposed to be a simple, no chain conveyancing. Markyate is where the house is located. Is there any advice you can give?
Flying freeholds in Markyate are rare but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Markyate you must be sure that your lawyer goes through the deeds thoroughly. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Markyate may determine 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.
Do you have any top tips for leasehold conveyancing in Markyate from the point of view of saving time on the sale process?
- A significant proportion of the frustration in leasehold conveyancing in Markyate can be reduced where you instruct lawyers as soon as your agents start advertising the property and request that they start to put together the leasehold documentation needed by the buyers’ representatives. If you have had any disputes with your landlord or managing agents it is very important that these are resolved before the property is marketed. The purchasers and their solicitors will be reluctant to purchase a property where there is an ongoing dispute. You will have to accept that you will have to discharge any arrears of service charge or settle the dispute prior to completion of the sale. It is therefore preferable to have any dispute settled prior to the contract papers being issued to the buyers’ solicitors. You are still duty bound to disclose details of the dispute to the buyers, but it is clearly preferable to reveal the dispute as historic rather than unsettled. Some Markyate leases require Licence to Assign from the landlord. If this is the case, you should place the estate agents on notice to make sure that the purchasers obtain financial (bank) and professional references. The bank reference will need to confirm that the buyers are able to meet the yearly service charge and the actual amount of the service charge should be quoted in the bank’s letter. You will therefore need to provide your estate agents with the service charge figures so that they can pass this information on to the buyers or their lawyers. In the event that you altered the property did you need the Landlord’s permission? Have you, for example laid down wooden flooring? Markyate leases often stipulate that internal structural alterations or installing wooden flooring require a licence issued by the Landlord approving such works. If you fail to have the approvals in place you should not communicate with the landlord without contacting your solicitor in the first instance. You may think that you are aware of the number of years left on your lease but you should verify this by asking your lawyers. A buyer’s lawyer will not be happy to advise their client to where the lease term is below 80 years. In the circumstances it is important at an early stage that you consider whether the lease term requires a lease extension. If it does, contact your solicitors before you put your home on the market for sale.
I bought a studio flat in Markyate, conveyancing having been completed 6 years ago. Can you shed any light on how much the price could be for a 90 year extension to my lease? Similar flats in Markyate with an extended lease are worth £191,000. The average or mid-range amount of ground rent is £55 levied per year. The lease finishes on 21st October 2079
You have 53 years unexpired we estimate the price of your lease extension to range between £27,600 and £31,800 as well as costs.
The figure that we have given is a general guide to costs for extending a lease, but we are not able to supply a more accurate figure without more comprehensive investigations. You should not use this information in a Notice of Claim or as an informal offer. There may be additional concerns that need to be considered and you obviously should be as accurate as possible in your negotiations. Please do not move forward placing reliance on this information before seeking the advice of a professional.