Is the fact that my conveyancer in Mayfield is not on my bank's conveyancing panel that there is a problem with the quality of his work?
It would be unwise to jump to that conclusion. There are plenty of plausible explanations. A recent report by the solicitors regulator revealed 76% of law firms surveyed had been removed from at least one lender panel. The top 5 reasons are as follows: (1) lack of transactions (2) the solicitor is a sole practitioner (3) as part of the HSBC panel reduction (4) regulatory contact by SRA (5) accidental removal. Where you are concerned you should simply call the Mayfield conveyancing firm and ask them why they are no longer on the approved list for your mortgage company.
What does my ID and proof of funds have anything to do with my conveyancing in Mayfield? Why is this being asked of me?
You are right in the requirement set out by your solicitor has nothing to do with conveyancing in Mayfield. Nowadays you will not be able to proceed with any conveyancing deal in the absence submitting evidence of your identity. Ordinarily this takes the form of a either your passport or driving licence as well as a bank statement. Remember if you are providing your driving licence as evidence of identification it must be both the paper part and photo card part, one is not sufficient in the absence of the other.
Proof of the origin of money is necessary in accordance with the Money Laundering Regulations. Please do not be offended when when this is requested of you as your lawyer must have this information on file. Your Mayfield conveyancing solicitor will need to see evidence of proof of funds prior to accepting any monies from you into their client account and they will also ask additional queries concerning the source of funds.
My colleague recommended that where I am purchasing in Mayfield I should carry out a Neighbourhood, Planning and Local Amenity Search. What does it cover?
This is a search is sometimes quoted for as part of the standard Mayfield conveyancing searches. It is a large report of more than thirty pages, listing and setting out important information about Mayfield around the property and the people living there. It includes an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the Mayfield Housing Market, Council Tax Banding, the type of People living in the area, the dominant type of Housing, the Average House Prices, Crime statistics, Mayfield Education with plans and statistics, Local Amenities and other useful information concerning Mayfield.
How does conveyancing in Mayfield differ for new build properties?
Most buyers of new build premises in Mayfield come to us having been asked by the builder to exchange contracts and commit to the purchase even before the property is ready to move into. This is because house builders in Mayfield typically purchase the real estate, 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 conveyancing solicitors 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.
Completion is due on the disposal of our £125,000 apartment in Mayfield in seven days. The management company has quoted £348 for Certificate of Compliance, insurance certificate and 3 years service charge statements. Is the landlord entitled to charge an administration fee for a flat conveyance in Mayfield?
Mayfield conveyancing on leasehold flats typically results in administration charges raised by management companies :
Completing conveyancing due diligence questions
Where consent is required before sale in Mayfield
Supplying insurance information
Deeds of covenant upon sale
Registering of the assignment of the change of lessee after a sale
I invested in buying a basement flat in Mayfield, conveyancing was carried out half a dozen years ago. Can you please calculate a probable premium for a statutory lease extension? Comparable flats in Mayfield with over 90 years remaining are worth £191,000. The average or mid-range amount of ground rent is £55 per annum. The lease ceases on 21st October 2072
With only 53 years unexpired we estimate the premium for your lease extension to range between £27,600 and £31,800 as well as plus your own and the landlord's "reasonable" professional fees.
The figure that we have given is a general guide to costs for extending a lease, but we cannot give you the actual costs in the absence of detailed investigations. You should not use this information in tribunal or court proceedings. There may be additional issues that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. You should not take any other action placing reliance on this information before getting professional advice.