I am selling my house in Bexley and the EA has just text me to say that the buyers are swapping solicitor. I am told that this is due to the fact that the lender will only work with solicitors on their approved list. On what basis would a major mortgage company only work with specific lawyers rather the firm that they want to select to handle their conveyancing in Bexley ?
Lenders have always had panels of law firms they are content to work with, but in recent years big names such as Santander, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have worked with them for decades.
Lending institutions point to the increase in fraud as the reason for the reduction – criteria have been narrowed as a smaller panel is easier to keep an eye on. No lender will say how many solicitors have been dropped, claiming the information is commercially sensitive, but the Law Society says it is hearing daily from firms that have been removed from panels. Plenty of firms do not even realise they have been dropped until contacted by a borrower who has instructed them as might be the situation in your buyers' case. The purchasers are unlikely to have any impact on this.
Will my conveyancer be raising questions concerning flooding during the conveyancing in Bexley.
Flooding is a growing risk for conveyancers dealing with homes in Bexley. Plenty of people will acquire a house in Bexley, completely expectant that at some time, it may suffer from flooding. However, aside from the physical damage, where a property is at risk of flooding, it may be difficult to get a mortgage, suitable insurance cover, or dispose of the property. Steps can be carried out as part of the conveyancing process to forewarn the purchaser.
Solicitors are not qualified to offer advice on flood risk, however there are a number of searches that may be undertaken by the buyer or on a buyer’s behalf which will figure out the risks in Bexley. The standard completed inquiry forms given to a buyer’s lawyer (where the solicitors are adopting what is known as the Conveyancing Protocol) includes a usual inquiry of the owner to find out whether the property has ever been flooded. In the event that flooding has previously occurred and is not notified by the owner, then a purchaser could commence a claim for damages as a result of such an incorrect reply. A purchaser’s solicitors will also conduct an enviro search. This will indicate whether there is a recorded flood risk. If so, more detailed inquiries should be conducted.
Me and my brother have a 4 bedroom Edwardian house in Bexley. Conveyancing practitioner acted for me and Coventry Building Society. I did a free Land Registry search last week and there are a couple of entries: the first freehold, the second leasehold under the exact same property. I'd like to know for sure, how can I find out??
You need to assess the Freehold register you have again and check the Charges Register as there may be mention of a lease. The best way to be sure that you are also the registered proprietor of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Bexley and other areas of the country and poses no real issues for owners other than when they sell they have to account for both freehold and leasehold interests when dealing with mortgage companies. You can also question the position with your conveyancing solicitor who completed the work.
I've recently found out that there is a flying freehold element on a property I have offered on last month in what was supposed to be a straight forward, no chain conveyancing. Bexley is the location of the property. What do you suggest?
Flying freeholds in Bexley are unusual but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Bexley you must be sure that your lawyer goes through the deeds thoroughly. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Bexley may decide 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 premises.
Completion is due on the sale of our £425,000 flat in Bexley in nine days. The management company has quoted £420 for Certificate of Compliance, building insurance schedule and 3 years statements of service charge. Is it legal for a freeholder to charge an administration fee for a flat conveyance in Bexley?
Bexley conveyancing on leasehold flats nine out of ten times results in administration charges raised by landlords agents :
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Answering pre-contract questions
Where consent is required before sale in Bexley
Copies of the building insurance and schedule
Deeds of covenant upon sale
Registering of the assignment of the change of lessee after a sale
We have reached the end of our tether in trying to purchase the freehold in Bexley. Can this matter be resolved via the Leasehold Valuation Tribunal?
Where there is a absentee landlord or if there is dispute about the premium for a lease extension, under the Leasehold Reform, Housing and Urban Development Act 1993 it is possible to make an application to the Leasehold Valuation Tribunal to determine the price.
An example of a Lease Extension decision for a Bexley premises is 103a Footscray Road in January 2014. The tribunal determines that the premium payable for the extended lease should be £34,500 according to the expert witness valuation calculation This case affected 1 flat.