I do hope you can help me. My Bermondsey solicitor is advising me that she is duty bound toconduct Bermondsey conveyancing searches resulting from the fact thatthe firm are on the HSBCsolicitor panel. Is this really necessary?
Unfortunately both you and your lawyer have little choice here. As you are obtaining a mortgage with a lender your lawyer has to comply with their conditions as set out in their version of the CML Conveyancing Handbook. Your conveyancer would have previously signed the Terms and Conditions of your bank’s conveyancing panel appointment which obliges them to follow the Council of Mortgage Lenders’ Handbook conditions . Even if you were a cash buyer you would be ill advised not to carry out Bermondsey conveyancing searches.
I purchased a freehold house in Bermondsey yet invoiced for rent, why is this and what is this?
It is rare for properties in Bermondsey and has limited impact for conveyancing in Bermondsey 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 generation of fresh rentcharges from 1977 onwards.
Old rentcharges can now be redeemed by making a one off payment under the Act. Any rentcharges that are still in existence post 2037 is to be extinguished.
Is there a search tool that I can utilise to investigate if the solicitor handling my conveyancing in Bermondsey is on the mortgage lender’sapproved panel? I am looking to avoid the situation of having one lawyer for me and one for Norwich and Peterborough Building Society thus paying £175.00 in additional legal charges.
You should make the most of the find a lender approved solicitor tool on this site. Pick the lender and type ‘Bermondsey’ or your location and you will see numerous solicitors located in Bermondsey or nearest you.
Just had an offer accepted on a new build flat in Bermondsey. Conveyancing is a frightening process 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 legal work.
Set out below are examples of a selection of leasehold new build questions that you can expect your new-build leasehold conveyancing in Bermondsey
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Forfeiture - bankruptcy or liquidation must not apply under this provision. The Vendor must covenant to keep unoccupied units in good repair until long leases are granted therefore. There must be mutual enforceability of lessee’s covenants. Has the Lease plan been approved by the Land Registry and if not when will they be lodged for this purpose?
How do I use your search tool to select a conveyancing practitioner in Bermondsey on the panel for my bank?
1st choose a bank such as National Westminster Bank, Barnsley Building Society or Platform Home Loans Ltd then specify your location such as Bermondsey. Conveyancing practices in Bermondsey and across England and Wales will then be identified.
I work for a reputable estate agent office in Bermondsey where we have experienced a few leasehold sales put at risk as a result of short leases. I have received conflicting advice from local Bermondsey conveyancing solicitors. Could you clarify whether the vendor of a flat can instigate the lease extension formalities for the purchaser on completion of the sale?
Provided that the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to commence the lease extension process and assign the benefit of the notice to the purchaser. This means that the proposed purchaser can avoid having to wait 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment has to be done prior to, or at the same time as completion of the sale.
Alternatively, it may be possible to agree the lease extension with the freeholder either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the purchaser.
I inherited a first floor flat in Bermondsey. In the absence of agreement between myself and the landlord, can the Leasehold valuation Tribunal determine the sum payable for a lease extension?
You certainly can. We can put you in touch with a Bermondsey conveyancing firm who can help.
An example of a Freehold Enfranchisement matter before the tribunal for a Bermondsey property is 1-41 Royal Tower Lodge 40 Cartwright Street in April 2013. the tribunal adding the agreed value of capitalised ground rents and the reversion the price to be paid for the freehold was £1,187,000 This case related to 41 flats. The unexpired term as at the valuation date was 107 years.