My partner and I are planning to purchase a flat in Bexley and have appointed a Bexley conveyancing practice. Within the last couple of days our solicitor has forwarded the sale agreement to be signed with a detailed report in anticipation of exchanging contracts shortly. Leeds Building Society have this morning contacted us to inform me that there is now an issue as our Bexley lawyer is not on their approved list of lawyers. Please explain?
If you are buying a property needing a mortgage it is standard for the purchasers' lawyers to also represent the mortgage company. In order to act for a bank or building society a law firm has to be on that lender's conveyancing panel. An application has to be made by the law firm to the lender to become a member of the lender's panel and there are increasingly strict criteria which the firm has to satisfy and indeed some lenders now require their panel members to be part of the Law Society’s Conveyancing Accreditation Scheme. Your property lawyer should contact your bank and see if they can apply for membership of their conveyancing panel, but if that is not viable they will instruct their own lawyers to represent them. You don't have to instruct a firm on the bank's conveyancing panel as you are at liberty to use your preferred Bexley lawyers, in which case it will likely add costs, and it may delay matters as you are adding another lawyer into the mix.
Can the conveyancing lawyers via your comparison service carry out conveyancing in Bexley by way of an attended exchange?
There are a few conveyancing specialists carrying out 24hr exchanges. Do call us to secure a costs illustration and details as to dates.
Can I use your services to recommend a Conveyancing solicitor in Bexley even where I’m not buying or disposing of a house, for instance if I intend to buy an office in Bexley with a loan from National Westminster Bank?
The service is predominantly used to find domestic conveyancing solicitors in Bexley but we have recorded at the end of this page a selection of Bexley commercial conveyancing firms. You will need to make contact with the company directly to see if they can also act for National Westminster Bank
My wife and I have a renovated Georgian property in Bexley. Conveyancing lawyer represented me and The Royal Bank of Scotland. I happened to do a free search for it on the Land Registry database and I saw a couple of entries: the first freehold, the second leasehold under the exact same address. I'd like to know for sure, how can I find out??
You need to assess 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 Bexley and other locations in the country and poses no real issues for owners other than when they buy they have to account for both freehold and leasehold interests when dealing with mortgage companies. You can also enquire as to the situation with the conveyancing lawyer who conducted the purchase.
Due to the input of my in-laws I had a survey completed on a property in Bexley before instructing conveyancers. I have been informed that there is a flying freehold element to the house. The surveyor has said that some mortgage companies tend refuse to grant a mortgage on this type of premises.
It varies from the lender to lender. Santander has different instructions from Nationwide. If you call us we can check with the appropriate mortgage company. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Bexley. Conveyancing may be slightly more expensive based on your lender's requirements.
Last July I purchased a leasehold flat in Bexley. Do I have any liability for service charges relating to a period prior to completion of my purchase?
In a situation where the service charge has already been demanded from the previous owner and they have not paid you would not usually be personally liable for the arrears. However, your landlord may still be able to take action to forfeit the lease. A critical element of leasehold conveyancing for your conveyancer to ensure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.
If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).
My wife and I have hit a brick wall in trying to purchase the freehold in Bexley. Can the Leasehold Valuation Tribunal adjudicate on premiums?
in cases where there is a missing freeholder or if there is dispute about the premium for a lease extension, under the relevant legislation it is possible to make an application to the First-tier Tribunal (Property Chamber) to decide the price.
An example of a Lease Extension matter before the tribunal for a Bexley premises is 103a Footscray Road in January 2014. The tribunal determines that the premium payable for the extended lease should be £34,500 according to the expert witness valuation calculation This case was in relation to 1 flat.