Do I have to have a meeting at the offices of the solicitor to execute the legal charge? If so, I will appoint a lawyer who conducts conveyancing in Mayfair so that I can attend their offices if necessary.
Most approved lawyers for mortgage companies conduct the vast majority of communications through Royal Mail, internet or over phone calls. This enables them to carry out the legal work for your home move no matter where you live in England or Wales. That being said you should check if you have the option of going to the offices of your conveyancing lawyer if just in case this is required.
We are getting the release of further funds on our home loan from Yorkshire BS as we wish to carry out improvements to our home in Mayfair. Do we need to appoint a bricks and mortar Mayfair solicitor on the Yorkshire BS conveyancing panel to deal with the legals?
Yorkshire BS would not normally appoint a member of their approved list of lawyers to deal with such a matter. If they do require any legal work then you would need to ensure that such a lawyer was on the Yorkshire BS list.
I have a mortgage with Virgin Money for my property in Mayfair. Conveyancing was finalised 12 months ago. Should I wish to rent out the flat and do not currently have a buy-to-let mortgage do I need to remortgage to a buy-to-let mortgage or inform Virgin Money?
Your original mortgage agreement with Virgin Money will provide that you need their approval before renting your property as this is likely to be a breach of Virgin Money’s mortgage conditions. It may be that Virgin Money will permit you to let out your former home without needing to switch to a buy-to-let mortgage but some lenders will add a surcharge to your mortgage rate to reflect the higher risk. You should contact Virgin Money directly. It should not be necessary to do this via a Virgin Money conveyancing panel lawyer.
Our offer on a semi in Mayfair has been agreed to, the sellers do however have a dependent purchase. The sellers have offered on somewhere, but it’s not yet tied up, and are looking at other flats booked. I have selected a high street conveyancing solicitor in Mayfair. What do I do now? At what stage should I apply for the mortgage with TSB?
It is usual to have anxieties where there is a chain as you are unlikely to want to be too out of pocket too early (mortgage application is approx one thousand pounds, then survey, Mayfair conveyancing search charges, etc). First, you must ensure that your property lawyer is on the TSB conveyancing panel. Concerning the subsequent steps this very much dictated by the specifics of your transaction, motivation for the property and on the state of the market. In a rising market the majority of purchasers would apply for a home loan with TSB and pay for the valuation and only if it was satisfactory would they pay their conveyancing practitioner to proceed with the conveyancing in Mayfair.
I used Action Conveyancing a few years past for my conveyancing in Mayfair. Now, I need my documents but cannot find the solicitor. What do I do?
You should contact the Solicitors Regulatory Authority (SRA) to help locate your conveyancing files. They can be contacted on please contact on 0870 606 2555. Alternatively, you should use their online form to make an enquiry. You will need to provide the SRA with as much information as possible to assist their search, including the name and address in Mayfair of the conveyancing firm of solicitors you previously hired, the name of conveyancing solicitor with whom you had dealings, and the date on which you last had dealings with the firm.
How does conveyancing in Mayfair differ for new build properties?
Most buyers of new build residence in Mayfair come to us having been asked by the developer to sign contracts and commit to the purchase even before the house is finished. This is because new home sellers in Mayfair typically purchase 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 conveyancers 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.
Am I right to be concerned about 3rd parties that I am dealing with are suggesting an internet conveyancing firm as opposed to a High Street Mayfair conveyancing practice?
As with lots of service providers, often referrals from relatives can be extremely useful or valuable. Nevertheless there are many people with a keen interest in a conveyancing deal; estate agents, mortgage brokers and lenders may recommend solicitors to select. On occasion these solicitors might be known to one of the organisations as experts in their field, but sometimes there may be a financial incentive behind the endorsement. You have the discretion to choose your preferred conveyancer. You need to be aware that many banks operate an approved list of solicitors you have to use for the mortgage aspect of your transaction.
Last January I purchased a leasehold house in Mayfair. Am I liable to pay service charges for periods before my ownership?
In a situation where the service charge has already been demanded from the previous lessee and they have not paid you would not usually be personally liable for the arrears. However, your landlord may still be able to take action to forfeit the lease. A critical element of leasehold conveyancing for your conveyancer to ensure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.
If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).
I am the registered owner of a a ground floor purpose built flat in Mayfair. In the absence of agreement between myself and the freeholder, can the Leasehold valuation Tribunal determine the premium payable for the purchase of the freehold?
if there is a missing freeholder or where there is disagreement about what the lease extension should cost, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the Leasehold Valuation Tribunal to assess the price.
An example of a Lease Extension case 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 was in relation to 1 flat. The unexpired term as at the valuation date was 21 years.