I plan on acquiring a maisonette in Mayfair. My Conveyancer has never been on on the lender approved panel. Is it possible for me to appoint my Mayfair conveyancing solicitor notwithstanding that they are not on the bank panel?
Your options include
- Complete the deal with your chosen Mayfair conveyancing practitioner but your mortgage company will no doubt appoint a property lawyer from their conveyancing panel. The net result is additional fees and probable interruption.
- Appoint a fresh lawyer to conduct the conveyancing, making sure they are on the lender conveyancing panel.
- Convince your solicitor to pull out all the stops to get accepted on the bank’s panel of solicitors
We see that you have a search directory listing firms on the Yorkshire BS conveyancing panel. Do companies pay you a referral fee if I retain them for our own conveyancing in Mayfair?
We are a listing service only for law firms wishing to communicate if they are on the Yorkshire BS conveyancing panel or other lender panels. We do not charge referral fees to any conveyancer that you subsequently appoint for your conveyancing in Mayfair.
Just had an offer accepted on a new build apartment in Mayfair. Conveyancing is necessary evil at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build legal work.
Here are examples of a selection of leasehold new build questions that you should expect your new-build leasehold conveyancing in Mayfair
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There must be mutual enforceability of lessee’s covenants. Where service of notices and proceedings can be at the property demised please confirm that this can be amended to include simultaneous services at the Lessees’ solicitors’ offices where the Lessee from time to time is not resident in the UK - such solicitors may be varied by notice in writing to the Landlord from time to time but otherwise will be as previously specified. Forfeiture - bankruptcy or liquidation must not apply under this provision. The Landlord must covenant to assume the management if the Management Company goes into liquidation or otherwise defaults in running the management scheme. Investor purchasers must be able to freely grant unsecured tenancies at market rents without requiring any consents.
Over the last few months I have been searching for a ground for flat up to £235,500 and identified one near me in Mayfair I like with open areas and transport links in the vicinity, the downside is that it only has 61 remaining years left on the lease. I can't really find anything else in Mayfair in this price bracket, so just wondered if I would be making a mistake purchasing a short lease?
If you require a mortgage the remaining unexpired lease term may be an issue. Discount the offer by the anticipated lease extension will cost if it has not already been discounted. If the current proprietor has owned the property for at least 2 years you can ask them to start the process of the extension and pass it to you. You can add 90 years to the existing lease term and have £0 ground rent by law. You should speak to your conveyancing lawyer regarding this.
I'm refinancing my existing property to a buy to let loan with The Royal Bank of Scotland and intend to use the remaining equity towards a second property. The location we are interested in is Mayfair. Will your conveyancers be able to act for both sets of banks and tie in the two deals?
Make use of our search tool on this page to check that the solicitors are on the relevant lender panels. Assuming that they are the solicitor will be able to tie up the two conveyancing matters but you should talk with you solicitor and communicate your desired outcome and requirements.
My wife and I plan to acquire our 1st home in Mayfair. Conveyancing practitioner has been instructed. The financial consultant pointed out that a survey is not appropriate as the property is only 20 yrs old.
As the bare minimum you need a Home Buyer's Report. As the residence was constructed over a decade ago the property will be without a warranty, so you would be well advised not to take a risk. For a property that age with no signs of defects a Home Buyer's report may suffice. They will highlight any apparent issues and suggest further investigation if relevant. Where there are any indications of problems seek a full Building Survey from the beginning.