At what point does exchange of contracts happen for domestic conveyancing in Bromley and am I required to attend the lawyers office?
If you are round the corner to our conveyancing solicitors in Bromley you are welcome to come in to sign documents. However, the law practices we recommend supply a national conveyancing service and give as equally comprehensive and professional a job for you when dealing with you electronically. The signing of the property agreement is not the critical part. Signing on the dotted line simply enables the firm to officially exchange when the time is right, which is ordinarily shortly after signing. The exchange process is is usually a five minute process, although where a lengthy "chain" is in play, since the process requires the relevant party's solicitor (not necessarily a conveyancing solicitor in Bromley)to be in the office at the appropriate time.
Do the Building Society Association intend to launch a searchable register to list practices on the Earl Shilton BS conveyancing panel for example in Bromley?
We are not aware of any intention on the part of the BSA to develop such a search facility.
Will my solicitor be asking questions concerning flooding during the conveyancing in Bromley.
The risk of flooding is if increasing concern for conveyancers dealing with homes in Bromley. There are those who purchase a house in Bromley, completely expectant that at some time, it may be flooded. However, aside from the physical destruction, where a house is at risk of flooding, it may be difficult to get a mortgage, adequate building insurance, or dispose of the premises. There are steps that can be taken during the course of a house purchase to forewarn the purchaser.
Conveyancers are not best placed to impart advice on flood risk, but there are a numerous searches that may be initiated by the buyer or on a buyer’s behalf which should figure out the risks in Bromley. The standard property information forms sent to a purchaser’s lawyer (where the solicitors are adopting what is known as the Conveyancing Protocol) incorporates a standard question of the vendor to discover whether the premises has suffered from flooding. In the event that flooding has previously occurred which is not revealed by the owner, then a buyer may issue a compensation claim as a result of such an misleading reply. A buyer’s conveyancers may also order an enviro search. This will reveal if there is any known flood risk. If so, additional inquiries should be initiated.
I purchased my apartment on 3 May and the transaction details is not yet on the land registry website. Should I be concerned? My conveyancing solicitor in Bromley advises it will be registered inside ten days. Are properties in Bromley uniquely lengthy to register?
There is nothing unique when it comes to conveyancing in Bromley registration formalities. Rather than based on location, timeframes can differ according to the party submitting the application, whether there are errors and if the Land registry have to notify any interested parties. At present roughly 80% of such applications are fully addressed within two weeks but occasionally there can be longer delays. Registration takes place once the new owner has moved in to the property therefore 'speed' is not always top priority but where there is a degree of urgency associated with the registration then you or your lawyers should communicate with the Registry to express the reasoning for an expedited registration.
I am buying my first flat in Bromley with a loan from Santander. The builders refused to move on the amount so I negotiated 6k of fixtures and fittings instead. The estate agent advised me not disclose to my solicitor about this extras as it may affect my loan with Santander. Is this normal?.
All lenders require a Disclosure of Incentives Form from the developer of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
Am I better off to instruct a Bromley conveyancing solicitor who is local to the property I am purchasing? An old friend can handle the legal formalities however his firm is located 400miles away.
The primary upside of using a local Bromley conveyancing practice is that you can visit the firm to execute paperwork, deliver your identification documents and pester them if necessary. They will also have local insight which is a benefit. However nothing is more important than finding someone that will do a good and efficient job. If other friends have used your friend and in the main were impressed that should trump using an unknown Bromley conveyancing solicitor just because they are round the corner.