My fiance and I are hoping to buy a home in Croydon and are in fact using a Croydon conveyancing firm. Within the past 48 hours our solicitor has sent a preliminary report and documents to look through with the expectation that exchange is imminent. Alliance & Leicester have this evening contacted us to advise us that they have now hit a problem as our Croydon solicitor is not on their conveyancing panel. What do we do from here?
Where you are buying a property needing a mortgage it is normal for the purchasers' lawyers to also represent the purchaser's lender. In order to act for a bank or building society a law firm has to be on that lender's conveyancing panel. An application has to be made by the law firm to the lender to become a member of the lender's panel and there are increasingly strict criteria which the firm has to satisfy and indeed some lenders now require their panel members to be part of the Law Society’s Conveyancing Accreditation Scheme. Your solicitor should contact your lender and see if they can apply for membership of their conveyancing panel, but if that is not viable they will instruct their own lawyers to represent them. You are not legally obliged to appoint a law firm on the lender’s conveyancing panel and you may continue to use your own Croydon solicitors, in which case it will likely add costs, and it may delay matters as you have another set of people involved.
Me and my fiancee are acquiring our first property. The solicitor has texted usto ask if we wish to purchase extra conveyancing searches. As novices we in the dark as to what's necessary for conveyancing in Croydon
The extent of Croydon conveyancing searches depends primarily on the property, the location, the possibility of any of these risks, your knowledge of the area and risks, your general approach to risk. What matters is that you properly appreciate what information each search could provide. You may then decide if you consider that you need that search. If unclear, ask the conveyancing practitioner to guide you.
I had intended to instruct a conveyancing solicitor in Croydon for our home move. Our broker informed us that our bank Bank of Ireland won't deal with them. Surely this is unfair competition?
Pre- 2008 most banks had a different appetite for risk. Almost all Croydon conveyancing firms would have been on most lender panels. The FSA in 2010 carried out a thematic investigation into mortgage fraud which concluded: know the conveyancing solicitors dealt with. Consequently, mortgage companies have regularly sought more information from law firms regarding their operations and the individuals who work for them as well as establishing certain criteria such a completing on a minimum number of conveyancing. Many Croydon conveyancing firms that have been excluded from lender panels have a 100% healthy track record, no complaints and no claims and didn't just 'dabble' in conveyancing. Croydon is one of the numerous locations where the conveyancers showing on our search results are on the panel for Bank of Ireland.
My wife and I are purchasing a house in Croydon. It might be a silly question but how we can trust a solicitor? At some point we have to put money into their account. What protection do we have from them run away with our money?
Be assured that all money in a Solicitors client account is 100% safe, and even if your Solicitor ran off with it, the Law Society would reimburse you fully.
My wife and I buying a detached bungalow in Croydon. The intention is to carry out a loft conversion at the property.Will legal due diligence on the property involve checks to see if these works were previously refused?
Your solicitor will check the registered title as conveyancing in Croydon will on occasion reveal restrictions in the title deeds which restrict certain changes or necessitated the permission of a 3rd party. Many additions call for local authority planning consent and approval in accordance building regulations. Many areas are designated conservation areas and special planning restrictions apply which frequently prevent or impact extensions. It would be prudent to check these issues with a surveyor before you commit yourself to a purchase.
The formalities of my purchase has taken place for my property in Croydon. Conveyancing was satisfactory but I feel I should register my dissatisfaction about the lender. How does one go about formally complaining?
Almost all banks and building societies have complaints procedures. Your first point of contact should be one of the lender’s branches or the Customer Services Team at head office. Ordinarily complaints to a lender are sorted out very quickly. If you feel the matter is not resolved you can write to Financial Ombudsman Service with full details of your complaint.
How does conveyancing in Croydon differ for new build properties?
Most buyers of new build or newly converted property in Croydon approach us having been asked by the housebuilder to sign contracts and commit to the purchase even before the property is constructed. This is because house builders in Croydon tend to purchase 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 today plan to offer on a house that appears to be perfect, at a great price which is making it all the more appealing. I have since discovered that the title is leasehold rather than freehold. I am assuming that there are issues buying a house with a leasehold title in Croydon. Conveyancing advisers have are about to be appointed. Will my lawyers set out the implications of buying a leasehold house in Croydon ?
Most houses in Croydon are freehold and not leasehold. In this scenario it’s worth having a local solicitor who is familiar with the area who can assist with the conveyancing process. We note that you are buying in Croydon so you should seriously consider looking for a Croydon conveyancing solicitor and be sure that they are used to advising on leasehold houses. As a matter of priority you will need to check the unexpired lease term. As a tenant you will not be entirely free to do whatever you want with the house. The lease will likely included provisions such as obtaining the landlord’sconsent to carry out changes to the property. It may be necessary to pay a maintenance charge towards the maintenance of the estate where the house is located on an estate. Your lawyer should report to you on the legal implications.
After months of dialogue we simply can't agree with our landlord on how much the lease extension should cost for our flat in Croydon. Does the Leasehold Valuation Tribunal have jurisdiction to calculate the appropriate figures?
Absolutely. We can put you in touch with a Croydon conveyancing firm who can help.
An example of a Freehold Enfranchisement matter before the tribunal for a Croydon residence is 29 Woodstock Road in April 2014. the Tribunal determined that the premiums to be paid into court in respect of the purchase of the freehold registered at HMLR under Title N0.SY3997 should be £7,217. This case related to 4 flats. The unexpired residue of the current lease was 98 years.