I am buying a property mortgage free in South Norwood. I have been residing for the last dozen years in South Norwood. Conveyancing searches are exorbitant. Given that I have knowledge of the area and road very well should I not bother getting the solicitor to do all the conveyancing searches?
In the absence of a home loan, then almost all of the South Norwood conveyancing searches are optional. Your conveyancer will try and steer you, perhaps strongly, that you should have searches completed, but he is duty bound to do this. Do take into account; if you are going to dispose of the house in the future, it may be of relevance to your future buyer what the searches determine. On occasion properties with apparent issues can still show up unexpected search results. A good conveyancing solicitor in South Norwood will be able to give you some helpful advice concerning this.
We are buying a flat and need a conveyancing solicitor in South Norwood who is on the Santander approved panel. Could you point me in the right direction as regards a conveyancing firm?
Our service is limited to being a directory service for firms who wish to be listed as being on the approved conveyancing panel for Santander . We don't recommend any particular firms conducting conveyancing in South Norwood.
we are a couple who intend to purchase a purpose built apartment in South Norwood with a loan from Lloyds TSB Bank.We like our South Norwood conveyancing practitioner but Lloyds TSB Bank advised that she’s not listed on their approved list of member firms. We have to appoint a Lloyds TSB Bank panel firm or keep our high street solicitor and fork out for one of their panel ones to represent them. This seems very unfair; Can we not simply insist that Lloyds TSB Bank use our lawyer?
No, not really. The home loan issued to you is subject to its various provisions, a common one being that solicitors will be on the Lloyds TSB Bank conveyancing panel. in the past, most mortgage companies had large numbers of law firms on their panels: a borrower could find one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. Another option that might be available is for your lawyer to apply to be on the conveyancing panel for Lloyds TSB Bank
I'm purchasing my first flat in South Norwood benefiting from help to buy. The sellers refused to move on the price so I negotiated five thousand pounds worth of extras instead. The estate agent told me not disclose to my conveyancer about the side-deal as it could 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've recently found out that there is a flying freehold issue on a house I have offered on two weeks back in what should have been a quick, no chain conveyancing. South Norwood is the location of the property. Can you offer any advice?
Flying freeholds in South Norwood are not the norm but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in South Norwood you would need to get your solicitor to go through the deeds diligently. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in South Norwood may ascertain 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 residence.
Am I right to be concerned about brokers that I am dealing with are suggesting a national conveyancing firm rather than a High Street South Norwood conveyancing practice?
As with many service providers, often recommendations from family and friends can be worth their weight in gold. Nevertheless there are lots of parties with a keen interest in a conveyancing transaction; estate agents, mortgage brokers and banks might all recommend lawyers to use. On occasion the solicitors might be known to one of the organisations as one of the best in their field, but sometimes there is an underlying commercial relationship behind the recommendation. You have the discretion to select your preferred conveyancer. However, bear in mind that the majority of mortgage providers specify a panel list of solicitors you must use for the mortgage aspect of your conveyancing.