Unfortunately I am unable to travel far from East Croydon. I would like to know the understand why all East Croydon solicitors aren't included on all bank panels?
Pre- 2008 most banks exhibited an approach to risk which is different than today. The Financial Services Authority in 2010 instigated a thematic review into mortgage fraud which concluded: know the conveyancers on your panel. As a result, mortgage companies have since requiredmore data from law firms concerning their operations and the individuals who work for them and set certain criteria such as completing a minimum amount of transactions. Hundreds of firms have been excluded from lender panels even though they had an exemplary disciplinary record, no complaints and zero claims and didn't just 'dabble' in conveyancing. Many firms found it impossible satisfy the minimum volume of transactions the mortgage companies required.
At what point does exchange of contracts take place for domestic conveyancing in East Croydon and do I need to be at the lawyers office?
If you are round the corner to one of the conveyancing solicitors in East Croydon you are welcome to attend to sign contracts. However, the firms we recommend supply countrywide coverage for conveyancing and give just as detailed and professional a job for you when communicating with you electronically. The signing of the contract is not when everything is set in stone. A signed contract is necessary for the firm to exchange contracts when the time is right, which is ordinarily shortly after signing. The procedure 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 East Croydon)to be in the office available at the end of the phone to exchange contracts.
We had selected conveyancing lawyers based in East Croydon on the RBS solicitor approved list. They have just billed me a separate sum for dealing with the RBS mortgage. Is this a supplemental conveyancing fee set by RBS?
Unfortunately, so long as it is in their Terms of Engagement or Quote then yes your property lawyer is entitled to levy a fee for this. This charge is not dictated by RBS but by your East Croydon conveyancer. Numerous firms on the RBS panel will quote ’dealing with mortgage’ fee but plenty of practices include it on their overall fee.
I have decided to exercise my right to buy my property in East Croydon off the council. I have a mortgage agreed with Leeds Building Society. Conveyancing is not something I have any knowledge of. Can I proceed without a solicitor easily? I think we can but we keep being told I should have one. Any advice?
It is not advisable to proceed with a house purchase without a solicitor. The council's solicitor are not acting for you. You need a solicitor for a number reasons. One of which is to verify what plans the Council have for repairs and refurbishment for the next five years. Many leaseholders have been stung for contributions of thousands of pounds. In any event, if you are getting a mortgage with Leeds Building Society, you will need to appoint a solicitor on the Leeds Building Society conveyancing panel.
I had an offer accepted on a house in East Croydon on 1/11/2024, valuation was booked 2 days later, all came back fine. Solicitor appointed, so all that was missing was my mortgage offer. Having made daily calls to Aldermore and chasing them on my offer, I have now been told that my offer will not be issued unless the lawyer is on the Aldermore conveyancing panel. Can the lender hold off the offer?
A lender would not issue an offer until they have details of a lawyer on their panel. It can take a few weeks for Aldermore to deal with your lawyer's application to be on the Aldermore conveyancing panel. There's no guarantee that your solicitor will be accepted.
I'm purchasing a new build house in East Croydon with a mortgage from Nottingham Building Society. The developers refused to reduce the amount so I negotiated 6k of additionals instead. The sale representative told me not reveal to my solicitor about this deal as it will jeopardize my mortgage with the lender. Is this normal?.
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.
I am thinking of appointing a conveyancing practitioner in East Croydon for my home move. Is there any facility to see a solicitor's record with the legal regulator?
One can read published Solicitor Regulator Association (SRA) decisions resulting from investigations from 2008 onwards. Go to Check a solicitor's record. To find information Pre 2008, or to check a solicitors record, telephone 0870 606 2555, 08.00 - 18.00 any week day save for Tuesday when lines open at 9.30am. For callers outside the UK, dial +44 (0)121 329 6800. The SRA could monitor call for training reasons.
I am intending to sublet my leasehold apartment in East Croydon. Conveyancing solicitor who did the purchase is retired - so can't ask her. Is permission from the freeholder required?
Your lease governs the relationship between the landlord and you the leaseholder; in particular, it will set out if subletting is not allowed, or permitted but only subject to certain caveats. The rule is that if the lease contains no specific ban or restriction, subletting is permitted. Most leases in East Croydon do not contain an absolute prevention of subletting – such a clause would undoubtedly devalue the flat. Instead, there is usually simply a requirement that the owner notifies the freeholder, possibly sending a duplicate of the sublease.
I have attempted and failed to negotiate with my landlord for a lease extension without success. Can the Leasehold Valuation Tribunal adjudicate on such matters? Can you recommend a East Croydon conveyancing firm to act on my behalf?
in cases where there is a missing landlord or where there is dispute about the premium for a lease extension, under the relevant legislation you can apply to the First-tier Tribunal (Property Chamber) to calculate the sum to be paid.
An example of a Freehold Enfranchisement matter before the tribunal for a East Croydon residence is 29 Woodstock Road in April 2014. the Tribunal determined that the premiums to be paid into court in respect of the purchase of the freehold registered at HMLR under Title N0.SY3997 should be £7,217. This case related to 4 flats. The unexpired term was 98 years.