I am in the process of selling my apartment in Bromley Common and the estate agent has just text me to warn that the buyers are changing their solicitor. The reason given is that the bank will only work with property lawyers on their conveyancing panel. Why would a leading mortgage company only deal with specific solicitors rather the firm that they want to appoint for their conveyancing in Bromley Common ?
Banks have always had panels of law firms they are content to work with, but in the past few years big names such as Nationwide, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have worked with them for many years.
Mortgage companies justify this action to a rise in fraud as the reason for the reduction – criteria have been stiffened as a smaller panel is easier to monitor. Banks tend not to reveal how many solicitors have been dropped, claiming the information is commercially sensitive, but the Law Society says it is being contacted daily by practices that have been removed from panels. Plenty of firms are unaware that they have been dropped until contacted by a borrower who has instructed them as might be the situation in your buyers' case. Your purchasers are not going to have any impact on this.
We have rather brash vendors who has recommended a lock out contract with a payment of 5k. Is it wise to enter into such agreements?
Exclusivity agreements are agreements between a home vendor and purchaser giving the buyer a ‘clear field’ to the sale of the property for a certain period of time. For all intents and purposes, a lock out is a document specifying that you will receive a contract at a later time which is the main conveyancing contract. It is generally used for buyer protection though in some cases, the proprietor may stand to benefit from such agreements as well. There are various positives and negatives to using them but you should to check with your lawyer but beware that it may result in costing you extra in conveyancing charges. In light of these reasons these agreements are avoided when it comes to conveyancing in Bromley Common.
I am looking to buy a house and require a conveyancing solicitor in Bromley Common who is on the Virgin Money solicitor. Could you point me in the right direction as regards a firm?
Our service is limited to being a directory service for firms who wish to listed as being on the approved conveyancing panel for Virgin Money in certain locations such as Bromley Common. We dont recommend any particular firm.
My colleague recommended that if I am purchasing in Bromley Common I should carry out a Neighbourhood, Planning and Local Amenity Search. What does it cover?
This is a search is occasionally included in the estimate for your Bromley Common conveyancing searches. It is a large document of more than thirty pages, listing and detailing significant information about Bromley Common around the property and the people living there. It incorporates an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the Bromley Common Housing Market, Council Tax Banding, the demographics of People living in the area, the dominant type of Housing, the Average House Prices, Crime statistics, Bromley Common Education with plans and statistics, Local Amenities and other useful data about Bromley Common.
Just had an offer accepted on a new build apartment in Bromley Common. Conveyancing is necessary evil at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build conveyancing.
Here is a sample of a few leasehold new build enquiries that you can expect your new-build leasehold conveyancing in Bromley Common
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There must be mutual enforceability of lessee’s covenants. Forfeiture - bankruptcy or liquidation must not apply under this provision. Investor purchasers must be able to freely grant unsecured tenancies at market rents without requiring any consents. Please confirm the Lease plans are architect prepared. Where service of notices and proceedings can be at the property demised please confirm that this can be amended to include simultaneous services at the Lessees’ solicitors’ offices where the Lessee from time to time is not resident in the UK - such solicitors may be varied by notice in writing to the Landlord from time to time but otherwise will be as previously specified.
What does commercial conveyancing in Bromley Common cover?
Commercial conveyancing in Bromley Common covers a wide array of services, offered by regulated solicitors, relating to business property. By way of example, this area of conveyancing can cover the sale or purchase of freehold business premises or, more usually, the transfer of existing business tenancies or the drafting of new leasing arrangements. Commercial conveyancing solicitors can also offer advice on the sale of business assets, commercial loans and the termination of leases.