Me and my fiancee are acquiring our first home. Our conveyancing practitioner has messagedto enquire if we wish to order extra conveyancing searches. Unfortunately we have no idea as to what's necessary for conveyancing in Croydon
The scope of Croydon conveyancing searches should be triggered based entirely on the property, the location, the possibility of any of these risks, your familiarity of the region and risks, your overall attitude to risk. What matters is that you adequately comprehend what information each search could give you. You may then make a decision if you personally think you need that search. Should you be in doubt, ask your lawyer to guide you.
I have an AIP. The lender mentioned the mortgage came with free conveyancing. Does this mean I have to use their panel conveyancer as I would much rather appoint a Croydon based conveyancing firm?
You should check but the chances are that appoint one of their panel conveyancers if you want the "fee-free" offer. Speak to the bank to determine if they allow a cash alternative. Some lenders have previously offered a £250 cashback as an alternative in which case you could put that amount towards your preferred conveyancing solicitor in Croydon.
I have recentlybeen informed that Stirling Law have closed. They carried out my conveyancing in Croydon for a purchase of a freehold house 9 months ago. How can I establish that my home is not still registered in the name of the previous owner?
The quickest way to see if the premises is in your name, you can carry out 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 Croydon conveyancing specialists.
I'm buying a new build house in Croydon with a loan from Coventry Building Society. The builders would not reduce the price so I negotiated five thousand pounds worth of fixtures and fittings instead. The sale representative suggested that I not to tell my conveyancer about the extras as it would put at risk my mortgage with Coventry Building Society. Should I keep quiet?.
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.
My husband and I are 14 days into a leasehold purchase having been directed to a firm by the high street agent to do our conveyancing in Croydon. I am am extremely disappointed with the level of service. Could you you assist me in finding new solicitors?
A lawyer would have to be really poor in order to consider diss instructing them. Has your mortgage been sent? If so you will need to make them aware of the new contact details and get the loan are issued to the new lawyers. Your new conveyancer should be on the lenders approved list to avoid escalating expenses and delays. So that should be your first question of the new conveyancers. Our find a solicitor tool will assist you in finding a lender approved conveyancer for your home move in Croydon
My nephew is just in the process of moving house, he had his mortgage in principle. After the seller agreed the offer on the flat we contacted the mortgage institution to go forward with his. We were shocked to discover that mortgage companies do not accept all solicitor, they must be on their panel, is this correct?
Banks tend to imposes restrictions either the type or the number of conveyancing solicitors on their panel. Typical examples of such restriction(s) being that a firm must have two or more partners. In addition to restricting the type of firm, some have decided to limit the number of firms they use to represent them. You should note that lenders have no responsibility for the quality of advice provided by any Croydon solicitor on their panel. Mortgage fraud was a key driver in the rationalisation of conveyancing panels a few years ago and whilst there are differing views about the extent of solicitor involvement in some of that fraud. Statistics from the Land Registry reveal that thousands of law firms only carry out one or two conveyances a year. Those supporting conveyancing panel cuts ask why law firms should have the right to be on a Lender panel when clearly, conveyancing is not their speciality. To put it another way; would you want a conveyancing solicitor to represent you if you were charged with a crime? Presumably not.