Am I correct in assuming that the fact that my conveyancer in South Croydon is not listed on my mortgage company's solicitor panel that there is a problem with the standard of the firm’s work?
It would be unwise to jump to that conclusion. There are plenty of plausible explanations. A recent report by the solicitors regulator indicated 76% of law firms surveyed had been removed from at least one lender panel. The most common reasons for removal are: (1) low volume of transactions (2) the lawyer is a sole practitioner (3) as part of the HSBC panel reduction (4) regulatory contact by SRA (5) accidental removal. Should you be concerned you should simply call the South Croydon conveyancing firm and enquire why they are no longer on the approved list for your bank.
My god-son is about to exchange on a newly built flat in South Croydon with a mortgage from Bank of Ireland. His conveyancer has said that there is a delay in completing the ‘Disclosure of Incentive Form’. This document is news to me - what is it and who needs sight of it?
The form is intended to provide information to the main parties involved in the purchase. Therefore, it will be provided to your son’s lawyer who should be on the Bank of Ireland conveyancing panel as a standard part of the process, and to the surveyor 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 Bank of Ireland conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.
Should commercial conveyancing searches reveal proposed roadworks that may impact a commercial land in South Croydon?
Its becoming the norm that commercial conveyancing solicitors in South Croydon will conduct a SiteSolutions Highways report as it dramatically cuts the time that conveyancers spend in investigating accurate data on highways that impact buildings and development assets in South Croydon. The report provides definitive data on the adoption status of roads, footpaths and verges, as well as the implication of traffic schemes and the rights of way surrounding a commercial development sites in South Croydon.
For each commercial conveyancing transaction in South Croydon it is crucial to investigate the adoption status of roads surrounding a site. The absence of identifying developments where adoption procedures have not been addressed adequately can cause delays to South Croydon commercial conveyancing transactions as well as present a risk to future plans for the site. These searches are not ordered for residential conveyancing in South Croydon.
Yesterday I discovered that there is a flying freehold issue on a property I put an offer in a fortnight ago in what should have been a simple, no chain conveyancing. South Croydon is the location of the property. Is there any advice you can give?
Flying freeholds in South Croydon are unusual but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside South Croydon you must be sure that your lawyer goes through the deeds thoroughly. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in South 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.
I was advised by numerous selling agents in South Croydon to get a quote from a property lawyer using your seach tool. What’s the financial incentive for Estate Agents to offer your lawyers over and above a competitor’s?
We don’t make any commission for directing people in our direction. We found it would be just too difficult to pay a commission as members of the public would think, ‘How come the agent getting a kickback? Why aren’t I receiving any benefit too?’ We would prefer to grow our business on genuine recommendations.
Am I better off to go with a South Croydon conveyancing practitioner based in the vicinity that I am hoping to buy? An old friend can handle the legal formalities but they are based 200miles drive away.
The primary upside of using a local South Croydon conveyancing firm is that you can attend the office to sign paperwork, hand in your ID and pester them if necessary. They will also have local knowledge which is a bonus. However nothing is more important than finding someone that will do a good and efficient job. If if people you trust instructed your friend and the majority were happy that should outweigh using an unfamiliar South Croydon conveyancing lawyer just because they are South Croydon based.