Can you explain why leasehold purchase conveyancing in Bexleyheath is more expensive?
The conveyancing costs on a leasehold premises in Bexleyheath is often more expensive than on a freehold transaction. This is due to the supplemental time required in dealing with the freeholder and management company to collate the information concerning whether the rent and maintenance fee have been paid and whether there are any major works due in the foreseeable future on repairs or maintenance of the building.
My wife and I have recently appointed a conveyancing solicitor in Bexleyheath. I I would like to check whether they are accepted on the Virgin Money approved list of lawyers. Can you or the lender confirm if they are on the panel?
You should phone the conveyancer and ask them whether they can act for the lender. Alternatively you should get in touch with Virgin Money who may be able to help.
Various web forums that I have come across warn that are the number one cause of delay in Bexleyheath house deals. Is that correct?
The Council of Property Search Organisations (CoPSO) published findings of a review by MoveWithUs that conveyancing searches do not feature within the most frequent causes of hindrances in the conveyancing process. Searches are unlikely to feature in any delay in conveyancing in Bexleyheath.
Are there restrictive covenants that are commonly picked up during conveyancing in Bexleyheath?
Restrictive covenants can be picked up when reviewing land registry title as part of the process of conveyancing in Bexleyheath. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
We're novice buyers - agreed a price, yet the agent told us that the vendor will only go ahead if we instruct the agent's preferred lawyers as they want an ‘expedited deal’. We would rather use a local solicitor with experience of conveyancing in Bexleyheath
It is highly unlikely the owners are behind this. If they want ‘a quick sale', taking such a hostile approach to a serious buyer is not the way to achieve this. Avoid the agents and go straight to the sellers and make the point that (a)you are motivated purchasers (b)you are ready to go, with mortgage lined up © you are chain free (d) you intend to proceed fast (e)however you are going to use your preferred Bexleyheath conveyancing solicitors - not the ones that will give the estate agent a introducer fee or meet his conveyancing targets pre-set by HQ.
My step-son is just in the process of moving home, he had his mortgage in principle. When the seller agreed the offer on the flat we contacted the lender to go forward with his. We were disappointed to learn that banks do not accept all conveyancer, they need to be on their approved list, is this legal?
Lenders normally imposes restrictions either the type or the number of conveyancing firms on their panel. A common example of such restriction(s) being that a firm must have two or more partners. In addition to restricting the type of firm, some have decided to limit the number of firms they use to represent them. You should note that banks have no responsibility for the quality of advice provided by any Bexleyheath conveyancer on their panel. Mortgage fraud was a key driver in the rationalisation of conveyancing panels a few years ago and whilst there are differing views about the extent of solicitor involvement in some of that fraud. Statistics from the Land Registry reveal that thousands of law firms only carry out one or two conveyances a year. Those supporting conveyancing panel cuts ask why law firms should have the right to be on a Lender panel when clearly, conveyancing is not their speciality. To put it another way; would you want a conveyancing solicitor to represent you if you were charged with a crime? Probably not.