Is there a reason why leasehold purchase conveyancing in Croydon costs more?
In summary, leasehold conveyancing in Croydon and South London usually involve more hours of investigation compared to freehold transactions. This includes reviewing the lease, communicating with the landlord about serving applicable notices, procuring current service charge and management information, securing the landlord’s consents and reviewing management accounts. The obligations on both the landlord and the tenant in the lease need to be studied by the buyer’s conveyancing team and read from beginning to end – no matter how many different leaseholders have owned the lease since it was first granted.
My uncle passed away last year and as sole heir and executor I was left the property in Croydon. The house had a small mortgage remaining of approximately £8000. I want to have the title changed into my name whilst I re-mortgage to Skipton, pay off the mortgage. Is this possible?
Where you intend to re-mortgage then Skipton will insist on your using a conveyancer on the Skipton conveyancing panel. Here is link to the Land Registry online guidance around what to do when a property owner dies. This will help you to understand the registration process behind changing the details re the registered title. in your case it would appear that you are effectively purchasing the property from the estate. Your Skipton conveyancing panel solicitor pays the new mortgage money into the estate, the estate pays off the old mortgage, the charge is released and you become the owner and the Skipton mortgage is registered as a charge at the Land Registry.
I'm the single beneficiary of my late mum's will with all property in now in my sole name, including the my former home in Croydon. Conveyancing formalities meant that the Land Registry date was in March. I want to move. I do know about the CML 6 month 'rule', meaning my property ownership will be considered the same way as if I'd bought the house in March. Will no one buy the property for half a year?
The CML handbook mandates solicitors to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." Technically you may be impacted by that. How sensible a view lenders take of it, depend on the mortgage company as this clause primarily exists to pick up on subsales or the quick reselling of property.
Does a directory service exist listing TSB panel solicitors in Croydon on the Council of Mortgage Lender’s Website?
No. There is no such facility on the Council of Mortgage Lenders or Building Society Association sites. A small selection of banks make their panel listings available over the internet. If you are seeking to appoint a Croydon solicitor on the TSB please make the most of our facility.
We expect to receive a DIP from HSBC this week so we know how much we could potentially offer as otherwise we only have online calculators to go by (which aren't taking into account credit checks etc). Do HSBC recommend any Croydon solicitors on the HSBC conveyancing panel, or is it better to go independently?
You will need to appoint Croydon solicitors independently although you'll need to choose one on the HSBC conveyancing panel. The solicitor represents both you and HSBC through the process.
I decided to have a survey completed on a property in Croydon prior to retaining solicitors. I have been told that there is a flying freehold element to the property. The surveyor has said that some banks will refuse to grant a loan on this type of premises.
It depends who your proposed lender is. Santander has different instructions for example to Halifax. Should you wish to telephone us we can check via the relevant mortgage company. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Croydon. Conveyancing may be slightly more expensive based on your lender's requirements.
My father-in-law has urged me to appoint his conveyancing solicitors in Croydon. Should I use them?
Much as we are happy to recommend a Croydon conveyancing lawyer it’s preferable to find a conveyancing lawyer is to seek recommendations from friends or relatives who have actually previously instructed the solicitor that you are are thinking of instructing.
What could I expect to pay for conveyancing in Croydon?
The total sum levied for Croydon conveyancing charges are likely to be calculated at:
- a set amount; or
- an hourly rate (i.e. the time spent on the particular case).
These days very few Croydon conveyancing practices invoice by the clock