My lawyer has discovered a a problem with the lease for the apartment we are purchasing in Bromley. The other side have suggested defective title insurance as a solution. We are content with insurance and will cover the costs. Our lawyer has advised that he must check that the bank is willing to move forward with this solution. Who is the client here, us or the mortgage company ?
The short answer to your last question is that, notwithstanding the potential for a conflict of interest, you and the mortgage company are the client. Your lawyer must comply with the UK Finance Lenders’ Handbook requirements. The UK Finance Lenders’ Handbook conditions require your lawyer to disclose issues such as defects with the lease so that the bank can be afforded the opportunity to check with their valuer as to the extent that the value of the property is affected. Should you refuse to allow your lawyer to make the appropriate notification then your solicitor will have no choice but to discontinue acting for you.
We had chosen solicitors based in Bromley on the UBS solicitor approved list. They have just billed me an additional sum for dealing with the UBS mortgage. Is this a supplemental conveyancing fee set by UBS?
Provided it is contained in their Terms and Conditions or estimate then yes your lawyer may charge a fee for this. The charge is not set by UBS but by your Bromley solicitor. Some firms on the UBS panel will levy an ‘acting for lender’ fee and others do not.
I have decided to exercise my right to buy my property in Bromley off the council. I have a mortgage agreed with Bank of Ireland. Conveyancing is new to me. Can I proceed without a solicitor easily? I think we can but we keep being told I should have one. Any advice?
It is not advisable to proceed with a house purchase without a solicitor. The council's solicitor are not acting for you. You need a solicitor for a number reasons. One of which is to verify what plans the Council have for repairs and refurbishment for the next five years. Many leaseholders have been stung for contributions of thousands of pounds. In any event, if you are getting a mortgage with Bank of Ireland, you will need to appoint a solicitor on the Bank of Ireland conveyancing panel.
The formalities of my purchase has taken place for my property in Bromley. Conveyancing was of an acceptable standard but I would like to complain about the lender. How do I make a complaint?
Almost all banks and building societies have complaints procedures. Your first point of contact should be one of the lender’s branches or the Customer Services Team at head office. In most cases complaints to a lender are resolved effectively and efficiently. If you feel the matter is not resolved you can write to Financial Ombudsman Service who will take matters further.
I require fast conveyancing in Bromley as I am faced with pressure to exchange contracts in less than one month. Luckily I do not need a mortgage. Can I avoid the conveyancing searches to save fees and time?
As you are are a mortgage free purchaser you are at liberty not to have searches conducted although no lawyer would advise that you don't. With lots of history conveyancing in Bromley the following are examples of issues that can arise and therefore impact future saleability: Refused Planning Applications, Outstanding Charges, Overdue Grants, Railway Schemes,...
I've recently found out that there is a flying freehold element on a house I put an offer in two weeks back in what should have been a simple, chain free conveyancing. Bromley is the location of the property. Can you shed any light on this issue?
Flying freeholds in Bromley are not the norm but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Bromley you would need to get your solicitor to go through the deeds thoroughly. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Bromley may ascertain that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold residence.
Am I right to be wary about brokers that I am dealing with are encouraging me to use a national conveyancing firm as opposed to a High Street Bromley conveyancing company?
As is the case with many service providers, often referrals from family and friends can be most helpful. But there are numerous players in a conveyancing transaction; estate agents, financial adviser and banks may recommend solicitors to instruct. On occasion the lawyers might be known to one of the organisations as experts in their field, but sometimes there is an underlying financial incentive behind the endorsement. You are free to choose your preferred conveyancer. You need to be aware that the majority of banks specify a panel list of solicitors you are obliged to use for the lender aspect of your transaction.
Last November I purchased a leasehold house in Bromley. Do I have any liability for service charges for periods before my ownership?
In a situation where the service charge has already been demanded from the previous owner and they have not paid you would not usually be personally liable for the arrears. Strange as it may seem, your landlord may still be able to take action to forfeit the lease. A critical element of leasehold conveyancing for your conveyancer to ensure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.
If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).
I have had difficulty in negotiating a lease extension in Bromley. Can this matter be resolved via the Leasehold Valuation Tribunal?
Most definitely. We can put you in touch with a Bromley conveyancing firm who can help.
An example of a Freehold Enfranchisement decision for a Bromley residence is Ravensbourne Lodge 4 Highland Road in February 2013. the Tribunal held that the amount payable for the freehold was £22,268