We are about to sign contracts for a freehold house in Mayfield. We encountered a stumbling block. The loan offer with Barclays runs out on 2/6/2025 but the sellers are putting forward a completion date of 4/6/2025. Is it possible to prolong the mortgage expiry date?
The best person to address this concern is your lawyer who will hopefully calculate whether they should be discussing with the mortgage company, owner’s solicitors, estate agents or indeed all parties given the circumstances your conveyancing as of today.
My uncle passed away six months ago and as sole heir and executor I was left the property in Mayfield. The house had a small mortgage remaining of approximately £4500. I want to have the title changed into my name whilst I re-mortgage to Skipton, pay off the mortgage. Is this allowed?
If you plan to re-mortgage then Skipton will insist on your using a conveyancer on the Skipton conveyancing panel. Here is link to the Land Registry online guidance around what to do when a property owner dies. This will help you to understand the registration process behind changing the details re the registered title. in your case it would appear that you are effectively purchasing the property from the estate. Your Skipton conveyancing panel solicitor pays the new mortgage money into the estate, the estate pays off the old mortgage, the charge is released and you become the owner and the Skipton mortgage is registered as a charge at the Land Registry.
What does a local search reveal regarding the property I am purchasing in Mayfield?
Mayfield conveyancing often commences with the submitting local authority searches directly from your local Authority or via a personal search organisations for example Onsearch The local search is essential in every Mayfield conveyancing purchase; as long as you wish to avoid any unpleasant once you have moved into your property. The search should provide information on, amongst other things, details on planning applications relevant to the premises (whether granted or refused), building control history, any enforcement action, restrictions on permitted development, nearby road schemes, contaminated land and radon gas; in all a total of thirteen subject sections.
How does conveyancing in Mayfield differ for newly converted properties?
Most buyers of new build or newly converted property in Mayfield come to us having been asked by the housebuilder to sign contracts and commit to the purchase even before the property is completed. This is because developers in Mayfield usually purchase the site, 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 accustomed to new build conveyancing in Mayfield or who has acted in the same development.
I need to instruct a conveyancing solicitor for freehold conveyancing in Mayfield. I have land on a site which seems to have the ideal answer If it is possible to get all the legals done via phone that would be preferable. Should I be wary? What are the potential pitfalls?
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 employed by a busy estate agency in Mayfield where we see a number of flat sales jeopardised as a result of short leases. I have been given conflicting advice from local Mayfield conveyancing solicitors. Can you confirm whether the seller of a flat can initiate the lease extension formalities for the buyer?
Provided that the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to start the lease extension process and assign the benefit of the notice to the purchaser. This means that the buyer need not have to sit tight for 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed before, or simultaneously with completion of the sale.
An alternative approach is to agree the lease extension with the freeholder either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the purchaser.
Leasehold Conveyancing in Mayfield - A selection of Queries Prior to buying
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What prohibitions are contained in the Mayfield Lease? How much is the annual service fee and ground rent?