I am obtaining a offer of a home loan from Lloyds. I intend to retain the legal services of a Licensed Conveyancer in Mayfair. Does the Lloyds Solicitor panel include conveyancers regulated by the CLC?
The Lloyds conveyancing panel is, like many other lenders, associated to the CML or Building Society Association, open to Licensed Conveyancers regulated by the Council of Licensed Conveyancers.
As someone not used to the Mayfair conveyancing process what’s your top tip you can impart concerning the legal transfer of property in Mayfair
You may not hear this from too many lawyers but conveyancing in Mayfair and elsewhere in England and Wales is often a confrontational experience. In other words, when it comes to conveyancing there exists plenty of room for confrontation between you and other parties involved in the legal transfer of property. For instance, the vendor, property agent and even potentially a bank. Choosing a law firm for your conveyancing in Mayfair an important selection as your conveyancer is your adviser, and is the ONE person in the legal process whose interest is to protect your best interests and to protect you.
We are witnessing a worrying emergence in the "blame" culture- someone has to be at fault for the process taking so long. We recommend that you should always trust your lawyer ahead of all other parties when it comes to the legal transfer of property.
Please help - my lawyer advises that lack of planning permission insurance is required on my purchase. What is the level of cover for Mayfair conveyancing?
The right level of lack of planning permission indemnity insurance should be dictated by who your lender. It would differ for example between Barclays and Virgin Money. Conveyancing practitioners as opposed to members of the public take out such insurances.
My fiancee and I are spending time viewing houses in Mayfair and I am about to put in an offer. Should I already have a conveyancing practitioner in place at this point? I am planning to take a home loan with Virgin Money.
It would be sensible to start your search sooner rather than later. After you have chosen your lawyer and once your offer is accepted you can instruct them to work for you and forward their contact information on to the EA. Given that you are obtaining a mortgage with Virgin Money, ask your prospective lawyers if they are on the Virgin Money conveyancing panel otherwise they can't do the mortgage legal work.
I am currently in the process of buying my council flat in Mayfair. I have a mortgage offer with Principality. Conveyancing is not something I have any knowledge of. Can I proceed without a solicitor easily? I think we can but we keep being told I should use one. Any advice?
It is not advisable to proceed with a house purchase without a solicitor. The council's solicitor are not acting for you. You need a solicitor for a number reasons. One of which is to verify what plans the Council have for repairs and refurbishment for the next five years. Many leaseholders have been stung for contributions of thousands of pounds. In any event, if you are getting a mortgage with Principality, you will need to appoint a solicitor on the Principality conveyancing panel.
I have justbecome aware that Action Conveyancing have been shut down. They carried out my conveyancing in Mayfair for a purchase of a freehold house 12 months ago. How can I be sure that the property is in my name in the name of the previous owner?
The easiest method to see if the property is registered to you, you can make a search of the land registry (£3.00). You can either do this yourself or ask a law firm to do this for you. If you are not registered you can seek help from one of a number of Mayfair conveyancing specialists.
I've recently found out that there is a flying freehold issue on a house I put an offer in last month in what was supposed to be a simple, no chain conveyancing. Mayfair is the location of the property. What do you suggest?
Flying freeholds in Mayfair are unusual but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Mayfair 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 Mayfair 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 residence.
I have miscalculated my finances and am a couple of grand short a 10% deposit on my flat purchase in Mayfair , but I still want to exchange. What can I do?
You can accept a smaller deposit. Most vendors will agree to a lesser deposit or even no deposit for a first time buyer or 100% mortgage. Be aware though that if you fail to complete you will still need to hand over a minimum of 10% of the purchase price regardless of how much deposit was agreed.
You can also agree a simultaneous exchange and completion as no deposit is required for this however neither party will be tied in until completion actually takes place and it can be risky if sellers change their mind at the last minute