Some advice if I may. My Mayfield solicitor is informing me me that he has toconduct Mayfield conveyancing searches asthe firm are on the Virgin Moneyconveyancing panel. These Mayfield searches cost a lot of money can this be avoided?

Unfortunately both you and your lawyer have little choice here. As you are taking a mortgage with a bank your solicitor has to comply with their conditions as set out in their version of the CML Conveyancing Handbook. Your solicitor would have previously signed the Terms and Conditions of your bank’s conveyancing panel appointment which obliges them to follow the Council of Mortgage Lenders’ Handbook provisions . Even if you were a cash buyer you would be ill advised not to carry out Mayfield conveyancing searches.

My wife and I purchased a 4 bedroom Georgian house in Mayfield. Conveyancing lawyer acted for me and National Westminster Bank. I happened to do a free search for it on the Land Registry database and I saw a couple of entries: the first freehold, another for leasehold with the exact same address. I thought I was buying a freehold how can I check?

You should review the Freehold register you have again and check the Charges Register as there may be mention of a lease. The best way to be sure that you are also the registered owner of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Mayfield and other areas of the country and poses no real issues for owners other than when they remortgage they have to account for both freehold and leasehold interests when dealing with buyers. You can also check the position with your conveyancing solicitor who conducted the purchase.

I am using a search engine for the phrase conveyancing in Mayfield it shows results of numerous conveyancerslocally. How do I determine which is the suitable conveyancing solicitor for purchase transaction?

The preferential method of seeking the right conveyancer is through a personal recommendation, so seek the counsel of colleagues and those you trust who have bought a property in Mayfield or the reputable estate agent or mortgage broker. Fees for conveyancing in Mayfield vary, so it's a good idea to secure a minimum of four costs illustrations from varying types of solicitors. Be sure to obtain confirmation that the costs are assured not to to be inflated.

I am a negotiator for a long established estate agency in Mayfield where we see a few flat sales derailed due to short leases. I have been given contradictory information from local Mayfield conveyancing solicitors. Please can you clarify whether the owner of a flat can commence the lease extension formalities for the purchaser on completion of the sale?

Provided that the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to commence the lease extension process and assign the benefit of the notice to the purchaser. This means that the proposed purchaser can avoid having to wait 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed prior to, or at the same time as completion of the sale.

Alternatively, it may be possible to extend the lease informally by agreement with the landlord 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.

Mayfield Conveyancing for Leasehold Flats - Examples of Queries before buying

It is important to be aware whether a new roof is being installed or some other major work is due in the foreseeable future that will be shared between the tenants and will materially impact the level of the service costs or necessitate a specific payment. How much is the ground rent and service charge? You should be aware if it is no more than 80 years it will impact the marketability of the flat. It is worth checking with your lender that they are willing to lend given the lease term. Leases with less than 80 years remaining means that you will most likely need a lease extension sooner rather than later and you need to have some idea of how much this will be. For most Mayfieldlease extensions you would be required to have owned the property for two years in order to be entitled to extend the lease.

Our bank agreed in principle to grant us a mortgage. We are using a local conveyancer in Mayfield last week. This morning, our financial adviser contacted us saying that the mortgage company said that we cannot use our solicitor as they aren't on their 'approved list'. As novices, we had no idea that the bank had some control over our choice Is this permitted?

You are permitted to choose any lawyer you prefer to use including the said conveyancer in Mayfield nevertheless if they are not on the your lender's panel you must pay additional cost so the bank can instruct their own solicitors as well to protect their interest. sometimes it is possible your preferred conveyancing firm to get added to the mortgage company list of approved firms. You can use online search facilities such as lenderpanel.com to find a conveyancing solcitor in Mayfield on the lender panel. You can go into your local mortgage company branch in Mayfield. They can recommend conveyancing solicitors in Mayfield on the panel for your bank.