I am one month into the sale of my home in South Croydon and the EA has just telephoned to warn that the purchasers are appointing a new solicitor. The excuse is that the lender will only deal with solicitors on their conveyancing panel. On what basis would a big named mortgage company only deal with specific lawyers rather the firm that they want to appoint to handle their conveyancing in South Croydon ?
Mortgage companies have always had an approved set of law firms that can represent them, but in recent years big names such as Nationwide, have considered and reduced their conveyancing panel– in some cases removing conveyancing firms who have worked with them for many years.
Banks point to the increase in fraud by way of justification for the cull – criteria have been tightened as a smaller panel is easier to oversee. No lender will say how many solicitors have been dropped, claiming the information is commercially sensitive, but the Law Society claims that it is hearing daily from firms that have been removed from panels. Plenty of firms do not even realise they have been dropped until contacted by a borrower who has instructed them as might be the situation in your buyers' case. Your buyers are not going to have any impact on this.
Do the conveyancing solicitors that are recommend carry out auction conveyancing in South Croydon?
We know of a number of auction practitioners we can connect you with those conducting auction conveyancing. South Croydon is just one of the many areas of in which our lawyers have a presence.
How up to date is your database of South Croydon solicitors on the Barclays conveyancing panel? Do Barclays send you an updated list?
South Croydon conveyancing firms themselves provide us confirmation that they are on the Barclays conveyancing panel as opposed to being supplied with a list from Barclays directly.
This question may be naive but I am new to the home moving as a first time buyer of a ground floor flat in South Croydon. Do I pick up the keys to the premises on the completion date from my lawyer? If this is the case, I will appoint a High Street conveyancing solicitor in South Croydon?
There is no need to visit the lawyers office on the day of completion. Conveyancing lawyers for you will transfer the completion advance to the owner’s conveyancers, and once they have received this, you should be called to collect the keys from the property Agents and start moving into the property. Usually this happens between 1 and 3pm.
The mortgage over my property is with Lloyds for my property in South Croydon. Conveyancing has been completed 12 months ago. Should I wish to rent out the flat and do not currently have a buy-to-let mortgage do I need to remortgage to a BTL mortgage or inform Lloyds?
Lloyds must be informed of your intention before renting your property as this is likely to be a breach of Lloyds’s mortgage conditions. It may be that Lloyds will allow you to rent out your former home without needing to switch to a buy-to-let mortgage but some lenders will add a surcharge to your mortgage rate to reflect the higher risk. You should contact Lloyds directly. It should not be necessary to do this via a Lloyds conveyancing panel lawyer.
Aldermore have agreed my home loan in principle, my bid on a property in South Croydon has been agreed to, what happens next?
Your estate agent will want to be informed of your conveyancer's details (make sure the conveyancing practitioners are on the lender’s panel). Telephone Aldermore or the financial adviser and complete any outstanding paperwork. Aldermore will appoint a valuer who will get in touch with the selling agent or owners to arrange a slot for the valuation to take place. Once conducted (assuming no problems) it takes about a week for the mortgage offer to be issued. Aldermore will issue the offer to you and your conveyancing practitioners. The transaction will then take it’s course according the nature and complexity of the conveyancing in South Croydon.
I have been on the look out for a ground for flat up to £305k and identified one round the corner in South Croydon I like with a park and transport links nearby, however it only has 52 years on the lease. I can't really find anything else in South Croydon for this price, so just wondered if I would be making a grave error acquiring a lease with such few years left?
If you require a home loan that many years will be problematic. Reduce the offer by the anticipated lease extension will cost if not already taken into account. If the current proprietor has owned the property for at least 2 years you may ask them to commence the lease extension formalities and pass it to you. You can add 90 years to the current lease with a zero ground rent applied. You should consult your conveyancing solicitor about this matter.
Been looking for a conveyancing practitioner for leasehold sale conveyancing in South Croydon. I'm selling, simple no mortgage to pay off, no rush, no onward purchase. Received an estimate from a lawyer for nine hundred pounds including VAT which is a tad high given that its so straightforward. Is it possible to find less expensive fees for conveyancing in South Croydon?
Considering it’s a sale only, 475 + VAT would be about the lowest for sale conveyancing in South Croydon.