Please help. My Mayfield lawyer is assuring me that she is duty bound toorder Mayfield conveyancing searches resulting from the fact thatthe firm are on the Lloydssolicitor panel. Is my lawyer correct?

Unfortunately both you and your lawyer have little choice here. As you are taking a mortgage with a bank your conveyancer 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 lender’s conveyancing panel appointment which obliges them to follow the Council of Mortgage Lenders’ Handbook requirements . Even if you were a cash buyer you would be ill advised not to carry out Mayfield conveyancing searches.

We note that you have a search directory identifying solicitors on the Barclays conveyancing panel. Do companies pay you a referral fee if I instruct them for our conveyancing in Mayfield?

We are a listing service only for law firms wishing to communicate if they are on the Barclays conveyancing panel or other lender panels. We do not charge referral fees to any conveyancer that you subsequently appoint for your conveyancing in Mayfield.

My husband and I are FTB’s - agreed a price, but the agent has warned us that the vendor will only go ahead if we use their chosen lawyers as they are insisting on an ‘expedited deal’. Our preferred option is to instruct a high street solicitor accustomed to conveyancing in Mayfield

It is highly unlikely the sellers are driving this. Should the vendor want ‘a quick sale', turning down a genuine purchaser is going to damage their objectives. Bypass the agents and go straight to the sellers and make sure they understand (a)you are keen to buy (b)you are excited to move forward, with finances in place © you are unencumbered (d) you wish to move quickly (e)but you are going to instruct your preferred Mayfield conveyancing lawyers - rather thanthe ones that will earn the estate agent a introducer fee or achieve conveyancing thresholds demanded by head office.

Are there common defects that you encounter in leases for Mayfield properties?

There is nothing unique about leasehold conveyancing in Mayfield. Most leases are individual and drafting errors can result in certain sections are not included. The following missing provisions could result in a defective lease:

Repairing obligations to or maintain parts of the building

A defective lease will likely cause issues when trying to sell a property as they can affect a potential buyer’s ability to obtain a mortgage. HSBC Bank, Chelsea Building Society, and Aldermore all have express requirements when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease does not cover certain provisions they may refuse to grant the mortgage, forcing the buyer to pull out.

Mayfield Leasehold Conveyancing - Examples of Queries before Purchasing

This question is helpful as a) areas can cause problems for the block as the common areas may begin to deteriorate if services remain unpaid b) if the tenants have an issue with the managing agents you will want to have all the details Where a Mayfield lease has fewer than 80 years it will impact the salability of the flat. Check with your bank that they are willing to lend given the lease term. Leases with less than 80 years remaining means that you will almost definitely need a lease extension sooner rather than later and it is worth finding out how much this would cost. Remember, in most cases you would be required to have been the owner of the residence for two years before you are eligible to exercise a lease extension.

I am short of a 10% deposit on my apartment purchase in Mayfield , but I am keen proceed. What can I do?

One option is to try and accept a lower deposit. Many vendors will accept a lower deposit or even no deposit for a first time buyer or 100% mortgage. Be aware though that if you fail to complete you will still need to hand over a minimum of 10% of the purchase price regardless of how much deposit was agreed.

You can also agree a simultaneous exchange and completion as no deposit is required for this however neither party will be tied in until completion actually takes place and it can be risky if sellers change their mind at the last minute