I have given 8 weeks notice to my existing landlord and have to be out of my let out property in Bromley Common by 5/2/2025. Conveyancing on my purchase is underway. Can I complete in 4 weeks as don't want to have to move into short term accommodation?
Generally one should not provide notice for your lease until you have exchanged. Assuming that you have not previously done so, speak to your conveyancer and request that they seek the assistance the other side, try to an acceptable time-line that everyone will aim to achieve
We see that you have a search directory listing firms on the Aldermore conveyancing panel. Do companies pay you a referral fee if I retain them for our own conveyancing in Bromley Common?
We are a listing service only for law firms wishing to communicate if they are on the Aldermore conveyancing panel or other lender panels. We do not charge referral fees to any conveyancer that you subsequently appoint for your conveyancing in Bromley Common.
A colleague pointed out to me me that in purchasing a property in Bromley Common there could be a number of restrictions prohibiting external changes to a property. Is this right?
We are aware of a number of properties in Bromley Common which have some sort of restriction or requirement of consent to execute external variations. Part of the conveyancing in Bromley Common should determine what restrictions are applicable and advising you as part of a ROT that should be sent to you.
My lawyer has informed me that chancel insurance is necessary on my purchase. What is the typical level of cover needed for conveyancing in Bromley Common?
The right level of chancel indemnity insurance depends on your lender. It would differ for example between Yorkshire Building Society and Virgin Money. Conveyancing solicitors as opposed to members of the public take out such policies.
Having read lots of house buying guides, I note that it is considered advisable to get your house surveyed prior to buying it. When I asked my local Bromley Common solicitor - who is on the Nationwide conveyancing panel - on this she said they don't do this and I need to contract an independent surveyor. Is that normal?
Nationwide will need an independent valuation of the property. Your lawyer will not arrange this. Usually Nationwide will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey. You may wish to consider appointing your own Bromley Common surveyor to carry out a survey or prepare a home buyers report on the property. It is up to you to satisfy yourself that the property is structurally sound before you buy it. If the survey or report reveals that building work is needed, you should tell your solicitor. You may wish to renegotiate with the seller.
Should our lawyer be raising enquiries about flooding during the conveyancing in Bromley Common.
The risk of flooding is if increasing concern for solicitors carrying out conveyancing in Bromley Common. Plenty of people will purchase a property in Bromley Common, fully aware that at some time, it may be flooded. However, leaving to one side the physical damage, if a property is at risk of flooding, it may be difficult to get a mortgage, satisfactory insurance cover, or sell the premises. There are steps that can be taken during the course of a property purchase to forewarn the purchaser.
Lawyers are not qualified to offer advice on flood risk, however there are a number of checks that can be carried out by the buyer or by their solicitors which can give them a better understanding of the risks in Bromley Common. The standard property information forms given to a buyer’s conveyancer (where the Conveyancing Protocol is adopted) includes a usual question of the seller to determine whether the property has ever been flooded. If flooding has previously occurred which is not disclosed by the seller, then a buyer may commence a claim for damages as a result of such an inaccurate reply. A buyer’s lawyers will also commission an environmental search. This should reveal if there is any known flood risk. If so, additional inquiries should be made.
It has been 4 months since my purchase conveyancing in Bromley Common completed. I have checked the Land Registry website which shows that I paid £175,000 when infact I paid £170,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the residence from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
My husband and I are acquiring a studio flat in Bromley Common. At the point of instructing our lawyer, they said that they were on all major UK bank panels. Our financial adviser contacted us just now to advise that they are not on the Principality approved list. If it turns out to be true, what should we do? Do we simply find a new conveyancing practitioner that is on their panel or do we cover the costs for dual representation, with Principality selecting their own approved property lawyer.
When purchasing a property with mortgage finance it is conventional for the buyer’s lawyers to also act for the purchaser's lender. In order to act for a bank or building society a lawyer has to be on that lender's conveyancing panel. An application has to be made by the conveyancer to the lender to become a member of the lender's panel and there are increasingly strict criteria which the lawyer has to fulfill. Some banks now require their panel firms to be part of the Law Society’s Conveyancing Accreditation Scheme. Your conveyancer should call Principality to find out if they can apply for membership of their conveyancing panel, but if that is not viable they will instruct their own solicitors to act. You don't have to instruct a firm on Principality's conveyancing panel and you may continue to use your own Bromley Common solicitors, in which case it will likely add costs, and it will likely delay the transaction as you have another set of people involved.