My husband and I are buying a 2 bedroom flat in West Croydon with a mortgage. We would like to retain our West Croydon conveyancer, however the lender advise she’s not on their "panel". We have to appoint one of the bank panel firms or retain our West Croydon property lawyer and pay for one of their panel ones to represent them. We consider that this is inequitable; is there anything we can do?
No, not really. Your mortgage offer is subject to its terms and conditions, one of which will be that lawyers will on the lender’s conveyancing panel. Until recently, most lenders had large numbers of law firms on their panels: a borrower could choose 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. A further alternative is for your West Croydon conveyancing solicitor to apply to be on the conveyancing panel.
What does my ID and proof of funds have anything to do with my conveyancing in West Croydon? What am I being asked for?
In order to comply with Money Laundering Regulations any West Croydon conveyancing firm will require evidence of your identity in all conveyancing transactions. This is normally satisfied by provision of a passport and an original bank statement or utility account evidencing where you reside.
In accordance with Money Laundering Regulations, conveyancing solicitors are obliged by law to ascertain not simply the ID of conveyancing clients but also the origin of monies that they receive in respect of any matter. An unwillingness to disclose this may result in your conveyancer cancelling their relationship with you, as clearly this will cause a conflict between the set Regulations and a refusal to disclose.
Your conveyancers will have an obligation to notify the appropriate authorities should they consider that any amounts received by them may contravene the Money Laundering Regulations.
My solicitor has informed me that breach of easement insurance is required on my purchase. What is the typical level of cover needed for conveyancing in West Croydon?
The appropriate level of breach of easement indemnity insurance should be dictated by who who your lender is. It would differ for example between Accord Mortgages Ltd and Virgin Money. Conveyancing solicitors as opposed to members of the public take out such insurances.
We have agreed to purchase a house in West Croydon. A rare aspect is that the roof has a solar panel. Solicitors conducting should look into this right? Will my lender Bank of Ireland be concerned?
Given that you are obtaining a mortgage with Bank of Ireland your lawyer must comply with the formal instructions outlined in Section 2 of UK Finance Lenders’ Handbook for Bank of Ireland. The Council of Mortgage Lenders’ Handbook includes minimum provisions for solar panel roof-space leases, and lawyers are required to report to Bank of Ireland where a lease does not satisfy these provisions. The provisions relate to the installation of panels on properties in England and Wales and is not limited to West Croydon.
I have decided to exercise my right to buy my property in West Croydon off the council. I have a mortgage offer with Kent Reliance. 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 use 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 Kent Reliance, you will need to appoint a solicitor on the Kent Reliance conveyancing panel.
How does conveyancing in West Croydon differ for new build properties?
Most buyers of new build property in West Croydon contact us having been asked by the seller to sign contracts and commit to the purchase even before the house is ready to move into. This is because new home sellers in West Croydon usually buy the real estate, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancing solicitors as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are used to new build conveyancing in West Croydon or who has acted in the same development.
I am selling my home. My former lawyers closed down. I am in need of a recommendation of a conveyancing firm. I happen to live in West Croydon if that makes a difference.
You should use our search tool to help you choose a solicitor for your conveyancing in West Croydon. We have connected thousands of home buyers and sellers with lender approved solicitors to ensure that the legalities of their house move goes smoothly.
Is it best to appoint a West Croydon conveyancing solicitor in close proximity to the house I am buying? An old friend can perform the conveyancing but her office is 200kilometers drive away.
The primary upside of using a high street West Croydon conveyancing firm is that you can attend the office to execute paperwork, present your identification documents and apply pressure on them if necessary. Having local West Croydon know how is a benefit. However nothing is more important than finding someone that will pull out all the stops for you. If if people you trust instructed your friend and they were impressed that must surpass using an unfamiliar West Croydon conveyancing lawyer solely due to them being round the corner.