The Croydon conveyancing firm that I recently instructed on my purchase in Croydon have without warning shut down. I chose them because I had to have a lawyer on the Bank of Ireland conveyancing panel and my preferred Croydon lawyer was not. I gave my credit card details for them to take £195 for searches. What do I do now?
Assuming that you have an Estate Agent in the equation then inform them straight away so that they advise the vendors that there may be a slight delay due to the problems encountered. Hopefully they will be sympathetic and urge their lawyer to send a new set of papers to your new solicitors. You should appoint new lawyers that are on the Bank of Ireland conveyancing panel and notify the lender. If you have paid over any money, it will hopefully be held by the SRA as money in an intervened firm's bank accounts is transferred to the SRA. Then, the SRA or the intervention agent looks at the intervened firm's accounts to work out who the money belongs to. To claim your money you will need to contact the SRA. If the SRA cannot return money you are owed from the firm's bank accounts, or if they can only return part of the money, you can apply to the Compensation Fund for a grant. Your new solicitors may be able to assist.
My wife and I own a 4 bedroom Victorian house in Croydon. Conveyancing practitioner represented me and Aldermore. I happened to do a free search for it on the Land Registry database and I saw a couple of entries: the first freehold, the second leasehold under the exact same address. If a house is not a freehold shouldn't I have been informed?
You need to assess the Freehold register you have again and check the Charges Register for mention of a lease. The best way to be sure that you are also the registered owner of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Croydon and other areas of the country and poses no real issues for owners other than when they remortgage they have to account for both freehold and leasehold interests when dealing with purchasers. You can also enquire as to the position with your conveyancing lawyer who conducted the conveyancing.
How does conveyancing in Croydon differ for newly converted properties?
Most buyers of new build property in Croydon contact us having been asked by the housebuilder to exchange contracts and commit to the purchase even before the premises is finished. This is because house builders in Croydon tend to acquire the site, 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 property lawyers 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 accustomed to new build conveyancing in Croydon or who has acted in the same development.
I am looking for a flat up to £195,000 and identified one near me in Croydon I like with open areas and transport links in the vicinity, however it's only got 51 years unexpired on the lease. There is not much else in Croydon for this price, so just wondered if I would be making a mistake buying a short lease?
Should you require a mortgage the shortness of the lease will likely be an issue. Discount the offer by the expected lease extension will cost if it has not already been discounted. If the existing owner has owned the premises for a minimum of 2 years you may request that they start the process of the extension and pass it to you. An additional ninety years can be extended on to the existing lease term with a zero ground rent applied. You should consult your conveyancing solicitor about this matter.
I'm refinancing my current house to a BTL loan with Bank of Scotland and I will use the rest of the raised equity towards another property. The area we are interested in is Croydon. Will your conveyancers be able to act for the two lenders and link together the conveyances?
Do use our comparison tool on this page to check that the solicitors are approved by both banks. Having checked that they are your lawyer will be able to connect the two conveyancing matters but you should have a chat with you lawyer and make clear your expectations and needs.
I need to appoint a conveyancing solicitor for leasehold conveyancing in Croydon. I happened to land on a site which seems to have the perfect offering If it is possible to get all the legals done via email that would be ideal. Should I be wary? What are the potential pitfalls?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?