Me and my partner are purchasing a leasehold flat in Bromley Common. My Solicitor is not listed on the lender conveyancing panel. Can I still continue with my Bromley Common conveyancing solicitor notwithstanding that they are not on the mortgage company panel of approved conveyancing solicitors?
You have a number of alternatives available to you here
- Carry on with your chosen Bromley Common property lawyer but your lender will undoubtedly use a conveyancing practitioner from their conveyancing panel. This will result in additional charges and probable delay.
- Appoint a new lawyer to conduct the conveyancing, obviously checking they are on the mortgage company conveyancing panel.
- Convince your lawyer to apply to join the bank panel
I purchased a freehold house in Bromley Common yet charged rent, why is this and what is this?
It’s unusual for properties in Bromley Common and has limited impact for conveyancing in Bromley Common but some freehold properties in England (particularly common in North West England) pay an annual sum known as a Chief Rent or a Rentcharge to a third party who has no other legal interest in the land.
Rentcharge payments are usually between £2.00 and £5.00 per year. Rentcharges have existed for many centuries, but the Rent Charge Act 1977 barred the establishment of new rentcharges post 1977.
Previous rentcharges can now be extinguished by making a one off payment under the Act. Any rentcharges that are still in existence post 2037 is to be dispensed with completely.
The Bromley Common conveyancing solicitors that I recently instructed on my purchase in Bromley Common have without warning shut down. They were on acting for me because I had to have a solicitor on the TSB conveyancing panel and my previous Bromley Common lawyer was not. I gave my credit card details for them to take one hundred and fifty pounds for searches. What do I do now?
If you have an estate agent involved then let them know straight away so that they can let the sellers know that there may be a slight delay due to the problems encountered. Most sellers would be sympathetic and urge their lawyer to send a new set of papers to your new solicitors. You should appoint new lawyers that are on the TSB conveyancing panel and notify the lender. If you have paid over any money, it will hopefully be held by the SRA as money in an intervened firm's bank accounts is transferred to the SRA. Then, the SRA or the intervention agent looks at the intervened firm's accounts to work out who the money belongs to. To claim your money you will need to contact the SRA. If the SRA cannot return money you are owed from the firm's bank accounts, or if they can only return part of the money, you can apply to the Compensation Fund for a grant. Your new lawyers may be able to help.
Is it correct that all Bromley Common CQS (Conveyancing Quality Scheme) solicitors are on the Virgin Money conveyancing list of approved solicitors?
It is true that some banks and building societies now make use of the accreditation scheme as the starting point for Panel membership such as HSBC and Santander. CQS membership however is no guarantee to lender panel acceptance. Nevertheless,the Council of Mortgage Lenders have indicated that it is likely to become a pre-requisite for firms wishing to remain on their panels.
Can you point me to a directory of Nationwide panel solicitors in Bromley Common on the UK Finance Lenders’ Handbook Website?
Unfortunately not yet. There is no such directory service on the Council of Mortgage Lenders or Building Society Association websites. A small selection of mortgage companies make their panel listings available over the internet. If you are looking for a Bromley Common conveyancer on the Nationwide please use our facility.
We previously selected conveyancing lawyers locally in Bromley Common on the Aldermore solicitor approved list. They have just invoiced me an additional sum for the legal aspects of the Aldermore mortgage. Is this a supplemental conveyancing fee set by Aldermore?
As unfair as it may appear, as long as it’s in their Terms and Conditions or estimate then yes your lawyer can levy a fee for this. This fee is not dictated by Aldermore but by your Bromley Common property lawyer. Numerous firms on the Aldermore panel will quote an ‘acting for lender’ fee but plenty of firms include it on their overall fee.
My husband and I are novice buyers - agreed a price, but the selling agent advised that the seller will only go ahead if we instruct the agent's preferred solicitors as they need a ‘quick sale’. My instinct tells me that we should use a family solicitor used to conveyancing in Bromley Common
It is improbable the sellers are driving this. Should the owner desire ‘a quick sale', turning down a serious purchaser is likely to cause more damage than good. Speak to the owners direct and explain that (a)you are motivated buyers (b)you are excited to move forward, with finances arranged © you have nothing to sell (d) you intend to proceed fast (e)but you intend to appoint your own,trusted Bromley Common conveyancing lawyers - not the ones that will provide their negotiator at the agency a introducer fee or meet his conveyancing thresholds pre-set by head office.
Can you offer any advice when it comes to finding a Bromley Common conveyancing practice to carry out our lease extension conveyancing?
When appointing a property lawyer for lease extension works (regardless if they are a Bromley Common conveyancing practice) it is essential that he or she should be familiar with the legislation and specialises in this area of work. We suggest that you make enquires with two or three firms including non Bromley Common conveyancing practices prior to instructing a firm. Where the conveyancing practice is ALEP accredited then so much the better. The following questions might be helpful:
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What are the legal fees for lease extension work? Can they put you in touch with clients in Bromley Common who can give a testimonial?
I have had difficulty in negotiating a lease extension in Bromley Common. Can the Leasehold Valuation Tribunal adjudicate on premiums?
Where there is a absentee landlord or where there is disagreement about what the lease extension should cost, under the relevant legislation it is possible to make an application to the LVT to decide the price payable.
An example of a Lease Extension case for a Bromley Common flat is 1 Southlands Court Southlands Road in September 2013. The Leasehold Valuation Tribunal determined that the premium to be paid by the tenant on the grant of a new lease, in accordance with section 56 and Schedule 13 of the Leasehold Reform, Housing and Urban Development Act 1993 was £30,541 This case was in relation to 1 flat. The unexpired term was 50.57 years.