Am I correct in assuming that the fact that my solicitor in Bromley is not listed on my bank's solicitor panel that there is a problem with the quality of his work?
That would most likely be an incorrect assumption to make. There are all sorts of perfectly plausible explanations. Just recently a report by the solicitors regulator indicated 76% of law firms surveyed had been removed from at least one lender panel. The most common reasons for removal are: (1) lack of transactions (2) the solicitor is a sole practitioner (3) as part of the HSBC panel reduction (4) regulatory contact by SRA (5) accidental removal. If you are concerned you should contact the Bromley conveyancing practice and enquire why they are no longer on the approved list for your lender.
My brother and I have recently bought a property in Bromley. We have noticed several problems with the house which we suspect were missed in the conveyancing searches. Do we have any recourse? What searches should? have been carried out as part of conveyancing in Bromley?
It is not clear from the question as what problems have arisen and if they are relate to conveyancing in Bromley. Conveyancing searches and investigations undertaken as part of the legal transfer of property are designed to help avoid problems. As part of the process, a seller completes a document called a Seller’s Property Information Form. If the information provided is misleading, you may have a misrepresentation claim against the seller for any losses that you have suffered. The survey should have identified any problems with the structure of the property. Assuming a detailed survey was carried out and the issues were not identified, you may have a claim against the surveyor. However, if you did not have a full survey, you may be responsible for fixing any defects that have now been noted. We would always encourage buyers to take every possible step to ensure they are completely aware of the condition of a property before purchase regardless of whether they are buying in Bromley.
How does conveyancing in Bromley differ for new build properties?
Most buyers of new build property in Bromley approach us having been asked by the developer to exchange contracts and commit to the purchase even before the house is constructed. This is because new home sellers in Bromley tend to purchase the land, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancing solicitors as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are accustomed to new build conveyancing in Bromley or who has acted in the same development.
Over the last few months I have been searching for a leasehold apartment up to £195,000 and identified one close by in Bromley I like with a park and railway links in the vicinity, however it's only got 49 remaining years left on the lease. There is not much else in Bromley for this price, so just wondered if I would be making a mistake purchasing a short lease?
If you require a home loan the shortness of the lease will likely be a potential deal breaker. Reduce the offer by the amount the lease extension will cost if it has not already been discounted. If the current owner has owned the property for at least 2 years you can ask them to commence the lease extension formalities and then assign it to you. An additional ninety years can be extended on to the existing lease term with a zero ground rent applied. You should speak to your conveyancing lawyer about this.
I’m about to sell my ground floor flat in Bromley. Conveyancing lawyers have not yet been instructed, however I have recently received a half-yearly service charge demand – should I leave it to the buyer to sort out?
It best that you pay the invoice as you normally would because all rents and maintenance payments should be allotted on completion, so you should recover the relevant percentage by the purchaser for the period running from after the completion date to the next payment date. Most management companies will not acknowledge the buyer until the service charges have been paid and are up to date, so it is important for both buyer and seller for the seller to show that they are up to date. Having a clear account will assist your cause and will leave you no worse off financially.
Having spent years of negotiations we simply can't agree with our landlord on how much the lease extension should cost for our flat in Bromley. Does the Leasehold Valuation Tribunal have jurisdiction to calculate the appropriate figures?
in cases where there is a absentee landlord or if there is disagreement about what the lease extension should cost, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the Leasehold Valuation Tribunal to assess the amount due.
An example of a Freehold Enfranchisement matter before the tribunal for a Bromley flat is Ravensbourne Lodge 4 Highland Road in February 2013. the Tribunal held that the amount payable for the freehold was £22,268
Is there a reason that Bromley conveyancing fees differ for leasehold and freehold properties?
When purchasing a leasehold property there is more work involved purely due to the fact that usually there are further parties involved in the form of the freeholder and/or Management Agents. As part of a lawyers enquiries they will check that all ground rent and service charges are paid up to date amongst other general leasehold matters. For this reason, the Sellers lawyers usually have to refer to the freeholder or Managing Agent for their replies to our questions. This may be time consuming and beyond the lawyers control