I had intended to instruct a property lawyer in Bromley for our house move. Our broker has since notified us that our mortgage lenders Barnsley Building Society won't deal with them. Surely this is unduly restrictive?
Mortgage Companies normally restrict either the category or the number of conveyancing solicitors on their member panel. A common example of such restriction(s) being that a firm must have two or more partners. As well as restricting the type of firm, a few lenders have limited the number of firms they allow to act for them. Be aware that Barnsley Building Society have no responsibility for the quality of advice provided by any member of Barnsley Building Society Conveyancer Panel. Mortgage fraud was a key driver in the reduction of solicitor panels since 2008 even though there remains mixed opinions about the level of solicitor engagement in some of that fraud. Figures from the Land Registry reveal that plenty of law firms, including some in or near Bromley only carry out one or two conveyances a year.
I have todaydiscovered that Action Conveyancing have closed. They carried out my conveyancing in Bromley for a purchase of a leasehold flat 12 months ago. How can I check that the property is not still registered in the name of the former proprietor?
The easiest method to check if the property is registered to you, you can make a search of the land registry (£3.00). You can either do this yourself or ask a law firm to do this for you. If you are not registered you can seek help from one of a number of Bromley conveyancing specialists.
About to purchase a new build apartment in Bromley. Conveyancing is daunting at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build legal work.
Here are examples of a few leasehold new build questions that you may expect your new-build leasehold conveyancing in Bromley
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Will control of the Management Company (if any) be handed over to purchasers on completion of the last sale or earlier? Investor purchasers must be able to freely grant unsecured tenancies at market rents without requiring any consents. There must be mutual enforceability of lessee’s covenants. If there are lifts in the building, please confirm that the owners of flats on the ground and basement floors will not be required to contribute towards the cost of maintenance and renewal. The Vendor must covenant to keep unsold units in good repair until long leases are granted therefore.
I decided to have a survey carried out on a house in Bromley ahead of instructing solicitors. I have been informed that there is a flying freehold element to the house. Our surveyor has said that some banks will refuse to issue a loan on this type of house.
It depends who your proposed lender is. Santander has different requirements for example to Birmingham Midshires. If you e-mail us we can investigate further via the relevant bank. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Bromley. Conveyancing may be slightly more expensive based on your lender's requirements.
I have just appointed agents to market my ground floor flat in Bromley. Conveyancing solicitors are to be appointed soon, but I have just had a half-yearly service charge invoice – Do I pay up?
Your conveyancing lawyer is likely to suggest that you should pay the invoice as usual given that all ground rent and maintenance invoices will be allotted on completion, so you should recover the relevant percentage by the purchaser for the period running from after the completion date to the subsequent invoice date. Most managing agents will not acknowledge the buyer unless the service charges have been paid and are up to date, so it is important for both buyer and seller for the seller to show that they are up to date. This will smooth the conveyancing process.
I have given up trying to reach an agreement for a lease extension in Bromley. Can this matter be resolved via the Leasehold Valuation Tribunal?
Most certainly. We can put you in touch with a Bromley conveyancing firm who can help.
An example of a Lease Extension matter before the tribunal for a Bromley property is 70 Andace Park Gardens 133-149 Widmore Road in November 2013. Tribunal determined that the premium payable for the lease extension was £10,052 This case was in relation to 1 flat. The unexpired term as at the valuation date was 72 years.
We are soon to complete buying a house in Bromley but as a result of damage from the recent storms I have agreed recompense from the owner of £2k by way of a adjustment in the price. This was going to be dealt with as part of the conveyancing process but the bank will not agree to this. Why were they approached?
Your solicitor listed on a bank approved list is required to disclose to the bank of any changes to the sale figure. In the event that you did not allow your conveyancer to notify the price change to your bank then they would have to discontinue acting for you and the lender.