We are about to sign contracts for a leasehold flat in Mayfair. We encountered a snag. Our mortgage offer with Clydesdale expires on 20/7/2026 but the owners are putting forward a completion date of 22/7/2026. Is it possible to prolong the loan expiry date?
The person best placed to address this concern is your conveyancer who should assess if they should be discussing with the lender, owner’s representatives, property agents or conceivably all parties based on the circumstances your transaction to date.
How does conveyancing in Mayfair differ for newly converted properties?
Most buyers of new build property in Mayfair come to us having been asked by the seller to sign contracts and commit to the purchase even before the premises is finished. This is because developers in Mayfair typically purchase 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 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 Mayfair or who has acted in the same development.
I decided to have a survey carried out on a property in Mayfair ahead of instructing conveyancers. I have been advised that there is a flying freehold element to the property. Our surveyor advised that some banks tend not give a loan on such a property.
It depends who your proposed lender is. HSBC has different requirements for example to Halifax. If you contact us we can look into this further with the relevant lender. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Mayfair. Conveyancing may be slightly more expensive based on your lender's requirements.
I need to find a conveyancing solicitor for freehold conveyancing in Mayfair. I've stumble across a site which seems to have the perfect solution If it is possible to get all formalities completed via web that would be preferable. Should I be concerned? What should out be looking out for?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?
I am on look out for some leasehold conveyancing in Mayfair. Before I set the wheels in motion I require certainty as to the number of years remaining on the lease.
If the lease is recorded at the land registry - and 99.9% are in Mayfair - then the leasehold title will always include the basic details 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 have tried to negotiate informally with with my landlord for a lease extension without success. Can the Leasehold Valuation Tribunal adjudicate on such matters? Can you recommend a Mayfair conveyancing firm to act on my behalf?
Most definitely. We are happy to 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 affected 1 flat. The number of years remaining on the existing lease(s) was 21 years.
We are soon to purchasing a house in Mayfair. Could our solicitor have our purchase price private from sites such as Rightmove. How could this be done?
HMLR by statute are obliged to reveal price paid data on the official title for residential properties nationwide including homes in Mayfair. The Title Register is a public document, so the Land Registry would be breaking the law if they failed to grant access to the register.
In essence you can ask HM Land Registry to hide the amount paid data however the response will be a No.