I'm the sole recipient of my late grandmother’s will and I have everything in my name alone, including the house in Bermondsey. Conveyancing formalities meant that the Land Registry date was in August. I now wish to sell up. I understand that there is a Mortgage Lenders 6 month 'rule', which means that my property ownership may be regarded the same way as though I had purchased the property in August. Do I have to wait half a year to sell?
The Council of Mortgage Lenders’ handbook obliges solicitors to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." By the strict wording you could be caught by that. Some lenders would take a sensible view as this requirement is chiefly there to identify the purchase and immediately sell or the quick reselling of properties.
I currently have a mortgage with Coventry BS for my property in Bermondsey. Conveyancing was finalised months ago. Should I wish to rent out the flat and do not currently have a buy-to-let mortgage do I need to remortgage to a buy-to-let mortgage or inform Coventry BS?
You must advise Coventry BS before letting out your property as this is likely to be a breach of Coventry BS’s mortgage conditions. In many cases banks or building societies will allow you to rent out your former home without needing to switch to a buy-to-let mortgage but some lenders will add a surcharge to your mortgage rate to reflect the higher risk. You should contact Coventry BS directly. It should not be necessary to do this via a Coventry BS conveyancing panel solicitor.
I am selling my house. I had a double glazing fitted in March 2006, but did not receive a FENSA certificate or Building Regulation Certificate. My purchaser’s lender, Nationwide are being difficult. The Bermondsey solicitor who is on the Nationwide conveyancing panel is happy to accept ‘lack of building regulation’ insurance but Nationwide are insisting on a building regulation certificate. Why do Nationwide have a conveyancing panel if they don't accept advice from them?
It is probably the case that Nationwide have referred the matter to their valuer. The reason why Nationwide may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing was correctly and safely installed. The indemnity insurance merely protects against enforcement action which is very unlikely anyway.
How does conveyancing in Bermondsey differ for newly converted properties?
Most buyers of new build property in Bermondsey contact us having been asked by the housebuilder to sign contracts and commit to the purchase even before the residence is finished. This is because developers in Bermondsey 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 conveyancers 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 Bermondsey or who has acted in the same development.
I've recently found out that there is a flying freehold element on a property I put an offer in a fortnight ago in what was supposed to be a simple, chain free conveyancing. Bermondsey is the location of the property. Is there any guidance you can give?
Flying freeholds in Bermondsey are rare but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Bermondsey you would need to get your solicitor to go through the deeds very carefully. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Bermondsey may decide that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold residence.
In what way does the Landlord & Tenant Act 1954 affect my business property in Bermondsey and how can your lawyers assist?
The 1954 Act affords security of tenure to business leaseholders, granting the a statutory right to make a request to court for a renewal tenancy and continue in occupation when the lease comes to an end. There are certain specified grounds where a landlord can refuse a lease renewal and the rules are complex. Fees are different for commercial conveyancing. Bermondsey is one of the numerous areas of the UK in which our lawyers have offices
My father-in-law has urged me to instruct his lawyers for conveyancing in Bermondsey. Do I take his guidance?
No doubt the best way to find a conveyancing practitioner is to get feedback from friends or family who have previously instructed the firm you're contemplating using.
What type of premises does your Bermondsey conveyancing estimates relate to?
The quotes issued are only relevant to standard residential property in England & Wales. If you have any different requirements for instance industrial or agricultural property or commercial conveyancing in Bermondsey you should contact us to consider this further .