We are buying a 1 bedroom apartment in Bexley with a mortgage. We have a Bexley solicitor, but the lender advise he's not on their "panel". It seems we have no choice but to select one of the mortgage company panel firms or continue with our Bexley property lawyer as well as pay for one of their panel lawyers to represent them. We regard this is unjust; is there anything we can do?
No, not really. The mortgage offered to you is subject to its terms and conditions, one of which will be that lawyers will on the bank’s conveyancing panel. Until recently, most lenders had large numbers of law firms on their panels: a borrower could choose one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. Another option that might be available is for your Bexley conveyancing solicitor to apply to be on the conveyancing panel.
When will exchange of contracts occur in domestic conveyancing in Bexley and do I need to be at the solicitors office?
Where you are round the corner to our conveyancing solicitors in Bexley you are invited in to sign contracts. That being said, the firms we work with supply countrywide coverage for conveyancing and provide as equally diligent and professional a job for you when communicating with you electronically. The executing of the contract is not the point of no return. Signing on the dotted line is just a prerequisite for the firm to officially exchange when the time is right, which will usually be very shortly after signing. The exchange process is nowadays normally dealt with by telephone and can be very rapid, although where a lengthy "chain" is in the mix, since the process requires the relevant party's solicitor (not necessarily a conveyancing solicitor in Bexley)to be in the office available at the end of the phone to exchange contracts.
I have recentlydiscovered that Arc property Solicitors have closed. They conducted my conveyancing in Bexley for a purchase of a leasehold flat 18 months ago. How can I establish that my home is registered correctly in the name of the previous owner?
The easiest way to check if the property is in your name, you can make a search of the land registry (£3.00). You can either do this yourself or ask a law firm to do this for you. If you are not registered you can seek help from one of a number of Bexley conveyancing specialists.
In my capacity as executor for the will of my father I am selling a house in Neath but live in Bexley. My lawyer (who is 300 kilometers awayhas requested that I sign a statutory declaration before the transaction finalising. Could you suggest a conveyancing practitioner in Bexley who can witness and place their company stamp on the document?
strictly speaking you are not likely to be required to have the documents attested by a conveyancing solicitor. Normally any notary public or solicitor will suffice regardless of whether they are Bexley based
I am looking at a two apartments in Bexley which have in the region of 50 years remaining on the lease term. Do I need to be concerned?
There are no two ways about it. A leasehold apartment in Bexley is a wasting asset as a result of the reducing lease term. The nearer the lease gets to its expiry date, the more it adversely affects the marketability of the premises. The majority of buyers and lenders, leases with less than 75 years become less and less marketable. On a more positive note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the property for two years (unlike a Section 13 notice for purchasing the freehold, when leaseholders can participate from day one of ownership). When successful, they will have the right to an extension of 90 years to the current term and ground rent is effectively reduced to zero. Before moving forward with a purchase of a residence with a short lease term remaining you should talk to a solicitor specialising in lease extensions and leasehold enfranchisement. We are are happy to put you in touch with Bexley conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. More often than not it is possible to negotiate informally with the freeholder to extend the lease. You may find he or she is happy to negotiate informally and willing to consider your offer straight off, without having to involve anyone else. This will save you time and money and it could help you reach a lower price on the lease. You need to ensure that any new terms represent good long-term value compared with the standard benefits of the Section 42 Notice and that onerous clauses are not inserted into any redrafting of the lease.
I have given up trying to purchase the freehold in Bexley. Can this matter be resolved via the Leasehold Valuation Tribunal?
in cases where there is a absentee freeholder or where there is disagreement about what the lease extension should cost, under the relevant legislation it is possible to make an application to the Leasehold Valuation Tribunal to decide the premium.
An example of a Lease Extension matter before the tribunal for a Bexley flat 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.