My partner and I are nearing an exchange on a property in Bromley and my parents have sent the ten percent deposit to my solicitor. I am now told that as the deposit has been received from someone other than me my property lawyer needs to disclose this to my mortgage company. Apparently, in also acting for the lender he must advise them that the balance of the purchase price is coming from anyone other than me. I informed the mortgage company about my parents' contribution when I applied for the mortgage, so is it really appropriate for this now to delay the deal?
The lawyer is duty bound to check with mortgage company to ensure that they are aware that the balance of the purchase price is not from your own funds. Your solicitor can only reveal this to your mortgage company if you permit them to, failing which, your lawyer must cease to continue acting.
If you had a top tip for choosing a conveyancing solicitor in Bromley what would it be?
Do not opt for the cheapest Bromley conveyancing costs illustration. You really do get what you’re paying for when it comes to conveyancing solicitors. A cheap quote may mean that the conveyancing solicitor is handling a lot of jobs at one time and you won’t get the quality of service and the attention that you need. It is, however, wise to use a conveyancer who has a fixed fee on a no sale, no fee basis. This way, you go into the conveyancing with your eyes wide open.
I am purchasing a 3 bedroom semi in Bromley. We would like to carry out a loft conversion at the property.Will legal work on the property involve checks to ascertain if these works are permitted?
Your property lawyer will review the registered title as conveyancing in Bromley will on occasion reveal restrictions in the title documents which prevent certain changes or necessitated the consent of another owner. Certain extensions need local authority planning permissions and approval in accordance building regulations. Some locations are designated conservation areas and special planning restrictions apply which often prevent or impact extensions. You should check these issues with a surveyor before you commit yourself to a purchase.
We have agreed to purchase a house in Bromley. One unusual aspect is that the roof has a solar panel. Solicitors conducting should look into this right? Will my lender HSBC be concerned?
As you are obtaining a mortgage with HSBC your lawyer must check the formal instructions outlined in Section 2 of UK Finance Lenders’ Handbook for HSBC. The CML Handbook contains minimum conditions for solar panel roof-space leases, and conveyancing practitioners are required to report to HSBC where a lease fails to satisfy these specifications. The provisions relate to the installation of panels on properties nationwide and is not limited to Bromley.
A colleague suggested that where I am buying in Bromley I should carry out a Neighbourhood, Planning and Local Amenity Search. Can you explain what the purpose of this search is?
This is a search is usually quoted for as part of the standard Bromley conveyancing searches. It is not a small document of about 40 pages, listing and detailing important information about Bromley around the property and the people living there. It incorporates an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the local Housing Market, Council Tax Banding, the type of People living in the area, the dominant type of Housing, the Average House Prices, Crime statistics, Local Education with plans and statistics, Local Amenities and other useful data concerning Bromley.
I'm buying my first flat in Bromley benefiting from help to buy. The developers would not budge the amount so I negotiated 6k of fixtures and fittings instead. The estate agent suggested that I not inform my solicitor about this side-deal as it will put at risk my mortgage with the bank. Do I keep my lawyer in the dark?.
All lenders require a Disclosure of Incentives Form from the builder 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.
I am looking for a leasehold apartment up to £305k and identified one near me in Bromley I like with amenity areas and transport links in the vicinity, however it only has 51 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 buying a lease with such few years left?
If you require a home loan the remaining unexpired lease term will be problematic. Discount the price by the amount the lease extension will cost if not already taken into account. If the existing owner has owned the premises for a minimum of 2 years you may request that they start the process of the extension and then assign it to you. An additional ninety years can be extended on to the existing lease with a zero ground rent applied. You should speak to your conveyancing lawyer regarding this matter.
I am looking into buying my first house which is in Bromley and I am already nervous. I couldn't find anything specific about Bromley. Conveyancing will be needed in due course but do you know about the Bromley area? or perhaps some other tips you can share?
Rather than looking online forget looking online you should go and have a look at Bromley. In the meantime here are some basic statistics that we found