Forgive me if this question is silly but I am unexperienced as FTB of a ground floor flat in Mayfield. Do I collect the keys to the premises on completion from my conveyancer? If this is the case, I will appoint a local conveyancing solicitor in Mayfield?
There is no need to visit the lawyers office on the day of completion. Conveyancing lawyers for you will transfer the completion advance to the vendor’s solicitors, and once they have received this, you should be able to collect the keys from the selling Agents and move into your new home. This tends to happen between 1 and 3pm.
My partner and I have organised a further advance on our mortgage from Santander as we want to carry out improvements to our property in Mayfield. Do we need to select a high street Mayfield solicitor on the Santander conveyancing panel to handle the paperwork?
Santander do not ordinarily appoint a member of their approved list of lawyers to handle the formalities. If they do require any legal work then you would need to ensure that such a lawyer was on the Santander conveyancing panel.
After weeks of negotiation I have agreed a price on a house in Mayfield. My financial adviser pressured me to appoint their lawyer. I paid an upfront payment of £225. A few days later, the conveyancer contacted me sheepishly admitting that they were not on the HSBC conveyancing panel. Am I right in thinking that I should be due a refund?
You should be able to recover this from the law firm if they were not on the HSBC panel. They should have asked at the outset which lender you were obtaining a mortgage with. An important lesson to readers of this site is to check that the lawyers are on the appropriate lender panel.
How does conveyancing in Mayfield differ for newly converted properties?
Most buyers of new build premises in Mayfield contact us having been asked by the developer to exchange contracts and commit to the purchase even before the residence is constructed. This is because new home sellers in Mayfield usually acquire 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 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 Mayfield or who has acted in the same development.
How straightforward is it to use the search tool to find a conveyancing solicitor in Mayfield on the approved list for my lender?
Step one is to choose a lender such as HSBC Bank, Skipton Building Society or Platform Home Loans Ltd then choose your preferred area for example Mayfield. Conveyancing firms in Mayfield and further afield will then be listed.
My father has urged me to use his lawyers for conveyancing in Mayfield. Should I use them?
No doubt the best way to choose a conveyancing practitioner is to seek guidance from friends or relatives who have actually used the firm that you are are thinking of instructing.
Our conveyancer has advised that he intends to complete and exchange simultaneously on our sale of a £275,000 maisonette in Mayfield on Tuesday in a week. The management company has quoted £336 for Landlord’s certificate, building insurance schedule and 3 years service charge statements. Is it legal for a freeholder to charge exorbitant fees for a flat conveyance in Mayfield?
For the majority of leasehold sales in Mayfield conveyancing will involve, queries regarding the management of a building inevitably needing to be answered directly by the freeholder or its agent, this includes :
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Answering pre-exchange questions
Where consent is required before sale in Mayfield
Copies of the building insurance and schedule
Deeds of covenant upon sale
Registering of the assignment of the change of lessee after a sale
I invested in buying a ground floor flat in Mayfield, conveyancing formalities finalised in 1995. Can you please calculate a probable premium for a statutory lease extension? Equivalent properties in Mayfield with an extended lease are worth £202,000. The average or mid-range amount of ground rent is £60 yearly. The lease ends on 21st October 2082
With just 57 years remaining on your lease we estimate the premium for your lease extension to be between £28,500 and £33,000 plus plus your own and the landlord's "reasonable" professional fees.
The figure that we have given is a general guide to costs for renewing a lease, but we are not able to supply the actual costs in the absence of detailed investigations. You should not use this information in tribunal or court proceedings. There are no doubt additional concerns that need to be considered and clearly you should be as accurate as possible in your negotiations. You should not take any other action placing reliance on this information before seeking the advice of a professional.
Is there a reason that Mayfield conveyancing costs are more expensive for leasehold and freehold properties?
There is always increased work needed for leasehold conveyancing. Mayfield has many leasehold properties. There is more time involved in the purchase: for example, the lease and leasehold information (including current service charge, ground rent and buildings insurance details) obtained from the freeholder or managing agents. There are strict criteria that the lease must meet in order to be acceptable to a mortgage company. If it does not meet these requirements, the lease must be amended, which can involve additional expense for the seller.