My grandson is buying a newly built flat in Croydon with a home loan from HSBC. His conveyancer has said that there is a delay in receiving the ‘Disclosure of Incentive Form’. Who needs to receive the form?
The document is intended to provide information to the main parties engaged in the purchase. Therefore, it will be provided to your son’s lawyer who should be on the HSBC conveyancing panel as a standard part of the process, and to the valuer when asked. The developer will be required to start the process by downloading the form and completing it. The form will therefore need to be available for the valuer at the time of his or her site visit. The form should be sent to the HSBC conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.
Finally the sale completed on my house in Croydon last December yet the purchaser is Skype messaging every few hours complaining that their lawyer is waiting to hear from mysolicitor. What are the post completion sale formalities following completion?
Following your sale your conveyancer is obliged to forward the transfer documentation and all of the paperwork to the purchaser's lawyers. If applicable, your conveyancer should also send confirmation that the home loan has been redeemed to the purchasers solicitors. There is unlikely to be post completion steps unique to conveyancing in Croydon.
I am buying a terraced house in Croydon. Can I do my own conveyancing?
Leaving aside the complexities and merits of DIY conveyancing in Croydon you will have to appoint a solicitor on your lender's conveyancing panel to look after their interests. Most people therefore find it easier to let the solicitor act for them and the lender. Furthermore there is minimal cost savings to be made in you doing conveyancing for yourself and another lawyer conducting the conveyancing for the lender. Please feel free to use the search tool to find a lawyer on your lender panel in Croydon.
My wife and I are purchasing a flat in Croydon. I might seem paranoid but how we can trust a conveyancer? On completion day we will need to put money into their account. What protection do we have from them run away with our money?
Be assured that all money in a Solicitors client account is 100% safe, and even if your Solicitor ran off with it, the Law Society would reimburse you fully.
When it comes to mortgage companies such as UBS, do Croydon conveyancing practitioners have to pay a fee to be on the conveyancing panel?
We are not aware of any lender fees to be on their list of approved firms, although some do charge an administration charge to deal with the processing of the conveyancing panel submission.
We had chosen solicitors with offices in Croydon on the UBS solicitor panel. They have just invoiced me a further fee for handling the UBS mortgage. Is this a supplemental conveyancing fee specified by UBS?
As unfair as it may appear, as long as it’s in their Terms of Engagement or estimate then yes your conveyancer can charge a fee for this. The charge is not dictated by UBS but by your Croydon lawyer. Some firms on the UBS panel will levy an ‘acting for lender’ fee and others do not.
Is it necessary to pay for insurance to address the risk of chancel repairs when buying a residence in Croydon?
Unless a previous acquisition of the house completed post 12 October 2013 you may take it that lawyers delivering conveyancing in Croydon to remain recommending a chancel search and or chancel repair liability policy.
Yesterday I discovered that there is a flying freehold issue on a property I put an offer in two weeks back in what should have been a quick, no chain conveyancing. Croydon is where the house is located. What do you suggest?
Flying freeholds in Croydon are unusual but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Croydon you would need to get your solicitor to go through the deeds very carefully. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Croydon 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.