I am need of leasehold conveyancing for a flat in a relatively new development (seven years built) in Mildmay. The vast majority the appartments have already been occupied. Do I need carry out the conveyancing searches as part of conveyancing in Mildmay?

You would be taking a significant risk in not carrying out Mildmay conveyancing searches. Without searches you have no clarity over flooding, environmental etc which may mean you walk away due to potential problems down the line. If you are buying without a mortgage there is no legal necessity to have them, but we would seriously advise in the strongest possible terms that your lawyer conducts them. If timings and expenses are primary issues you should consider with your solicitor about the possibility of search insurance

We're in Mildmay, First time buyers buying with a mortgage (lender is Co-operative , and our lawyer is on the Co-operative conveyancing panel). How long should the conveyancing process take?

The fact that your lawyer is on the Co-operative conveyancing panel is a help. It would almost certainly delay matters if they were not. However, no conveyancer should guarantee a timeframe for your conveyancing, due to third parties outside of your control such as delays caused by lenders,conveyancing search providers or by the other side’s solicitors. The time taken is often determined by the number of parties in a chain.

How does conveyancing in Mildmay differ for newly converted properties?

Most buyers of new build or newly converted property in Mildmay come to us having been asked by the developer to sign contracts and commit to the purchase even before the house is ready to move into. This is because house builders in Mildmay typically buy 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 Mildmay or who has acted in the same development.

Over the last few months I have been searching for a leasehold apartment up to £305k and identified one close by in Mildmay I like with amenity areas and railway links nearby, the downside is that it only has 51 years unexpired on the lease. I can't really find anything else in Mildmay in this price bracket, so just wondered if I would be making a grave error purchasing a short lease?

If you require a home loan the remaining unexpired lease term will likely be problematic. Discount the price by the anticipated lease extension will cost if not already taken into account. If the current proprietor has owned the premises for at least twenty four months you can ask them to commence the lease extension formalities and pass it to you. An additional ninety years can be extended on to the current lease term and have £0 ground rent by law. You should speak to your conveyancing lawyer concerning this matter.

I am short of a 10% deposit on my apartment purchase in Mildmay , but I still want to exchange. Do I have options?

One option is to try and agree a smaller deposit. Many property owners will agree to 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