Our conveyancer has identified a a legal deficiency with the lease for the property we are buying in Bromley. The other side have suggested defective title insurance as a workaround. We are happy with insurance and will pay for it. Our property lawyer has advised that he must be satisfied that the bank is happy with this solution. Who is the client here, us or the mortgage company ?
Notwithstanding that you have a mortgage offer from the bank does not mean to say that the property will meet their specifications for the purposes of a mortgage. Your lawyer has to ensure that the lease has to comply with the UK Finance Lenders’ Handbook conditions. You and the mortgage company are the client. These conveyancing instructions must be adhered to.
We previously selected solicitors based in Bromley on the Coventry BS solicitor approved list. They are now charging me a separate amount for dealing with the Coventry BS mortgage. Is this a supplemental conveyancing fee set by Coventry BS?
Unfortunately, so long as it is in their Terms of Engagement or Quote then yes your lawyer is entitled to levy a fee for this. This fee is not set by Coventry BS but by your Bromley solicitor. Some firms on the Coventry BS panel will charge ’dealing with mortgage’ fee and others do not.
I am currently in the process of buying my council flat in Bromley. I have a mortgage agreed with Clydesdale. Conveyancing is not something I have any knowledge of. Can I proceed without a solicitor easily? I think we can but we keep being told I should use one. Any advice?
It is not advisable to proceed with a house purchase without a solicitor. The council's solicitor are not acting for you. You need a solicitor for a number reasons. One of which is to verify what plans the Council have for repairs and refurbishment for the next five years. Many leaseholders have been stung for contributions of thousands of pounds. In any event, if you are getting a mortgage with Clydesdale, you will need to appoint a solicitor on the Clydesdale conveyancing panel.
Completion of my purchase has taken place for my property in Bromley. Conveyancing was satisfactory but I would like to complain about the lender. Who do I contact should I wish to lodge a complaint?
All banks and building societies have complaints procedures. Your first port of call should be one of the lender’s branches or the Customer Care Team at head office. We understand that complaints to a lender are resolved effectively and efficiently. However if you are not satisfied that the matter is not resolved you can write to Financial Ombudsman Service, South Quay Plaza, 183 Marsh Wall, London E14 9SR with full details of your complaint.
I require expedited conveyancing in Bromley as I am faced with a deadline to exchange contracts within 4 weeks. Luckily I do not need a mortgage. Is it possible to decline from having conveyancing searches to save fees and time?
If.Given you are are a mortgage free purchaser you have the choice not to do searches although no law firm would advise that you don't. With plenty of history conveyancing in Bromley the following are examples of issues that can be revealed and adversely affect future mortgageability: Refused Planning Applications, Overdue Charges, Outstanding Grants, Unadopted Roads,...
I've recently found out that there is a flying freehold issue on a property I have offered on two weeks back in what should have been a simple, chain free conveyancing. Bromley is where the house is located. Is there any guidance you can impart?
Flying freeholds in Bromley are rare but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Bromley you must be sure that your lawyer goes through the deeds thoroughly. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Bromley may determine 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 premises.
Am I right to be suspicious about brokers that I am dealing with are recommending an internet conveyancing firm as opposed to a local Bromley conveyancing practice?
As is the case with lots of professional services, often input from family and friends can be very helpful. But there are lots of players in a conveyancing deal; estate agents, mortgage brokers and lenders may put forward conveyancers to use. Sometimes the solicitors might be known to one of the organisations as one of the best in their field, but sometimes there is an underlying financial incentive behind the recommendation. You have the discretion to select your own conveyancer. Don't forget that some mortgage providers specify a panel list of lawyers you are obliged to use for the lender related work in your house move.
Last November I purchased a leasehold property in Bromley. Do I have any liability for service charges for periods before completion of my purchase?
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. Strange as it may seem, your landlord may still be able to take action to forfeit the lease. It is an essential part 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).
Having spent years of dialogue we simply can't agree with our landlord on how much the lease extension should cost for our flat in Bromley. Does the Leasehold Valuation Tribunal have jurisdiction to calculate the appropriate figures?
You certainly can. 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 premises 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 related to 1 flat. The unexpired term as at the valuation date was 72 years.