I am nearing exchange of contracts for my flat in Croydon and the estate agent has just e-mailed to advise that the buyers are switching solicitor. The reason given is that the bank will only engage with solicitors on their conveyancing panel. On what basis would a major lender only engage with specific lawyers rather the firm that they want to appoint to handle their conveyancing in Croydon ?
Mortgage companies have always had panels of law firms that can act for them, but in recent years big names such as Lloyds Banking Group, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have worked with them for more than 25 years.
Lenders blame a rise in fraud by way of justification for the cull – criteria have been tightened as a smaller panel is easier to maintain. Banks tend not to reveal how many solicitors have been dropped, claiming the information is commercially sensitive, but the Law Society claims that it is hearing daily from firms that have been removed from panels. Plenty of firms are unaware that they have been dropped until contacted by a borrower who has instructed them as might be the situation in your buyers' case. The buyers are unlikely to have any impact on this.
We are planning to acquire a flat and require a conveyancing solicitor in Croydon who is on the Leeds Building Society solicitor panel. Could you point me in the right direction as regards a solicitor?
Our service is limited to being a directory service for firms who wish to be listed as being on the approved conveyancing panel for Leeds Building Society . We don't recommend any particular firms conducting conveyancing in Croydon.
Despite weeks of looking the Title Certificate and documents to our house are lost. The solicitors who did the conveyancing in Croydon 5 years ago are no longer around. Will I be able to sell the house?
These day there are copies made of almost everything, and your conveyancer should be aware exactly where to find all the suitable paperwork so you can buy or sell your property without a hitch. If copies can’t be found, your conveyancer can put in place insurance or indemnities protecting you against future claims on the property.
How does conveyancing in Croydon differ for newly converted properties?
Most buyers of new build property in Croydon come to us having been asked by the seller to sign contracts and commit to the purchase even before the premises is finished. This is because developers in Croydon tend to acquire the land, 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 need to retain a conveyancing solicitor for purchase conveyancing in Croydon. I happened to stumble across a site which appears to be the perfect offering If there is a chance to get all this stuff completed via email that would be preferable. Should I be concerned? 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?
I've found a house that seems to be perfect, at a great price which is making it more attractive. I have just found out that the title is leasehold rather than freehold. I would have thought that there are issues purchasing a leasehold house in Croydon. Conveyancing lawyers have are about to be appointed. Will my lawyers set out the implications of buying a leasehold house in Croydon ?
The majority of houses in Croydon are freehold and not leasehold. This is one of the situations where having a local conveyancer who is familiar with the area who can help the conveyancing process. it is apparent that you are buying in Croydon in which case you should be looking for a Croydon conveyancing solicitor and check that they are used to dealing with leasehold houses. First you will need to check the unexpired lease term. Being a lessee you will not be entirely free to do whatever you want with the house. The lease will likely included provisions such as requiring the freeholder’sconsent to carry out alterations. It may be necessary to pay a contribution towards the upkeep of the communal areas where the property is located on an estate. Your conveyancer will report to you on the legal implications.
I am the proprietor of a first floor flat in Croydon. Given that I can not reach agreement with the landlord, can the Leasehold valuation Tribunal make a decision on the sum payable for a lease extension?
Where there is a absentee freeholder or where there is dispute about what the lease extension should cost, under the Leasehold Reform, Housing and Urban Development Act 1993 it is possible to make an application to the LVT to make a decision on the price payable.
An example of a Freehold Enfranchisement decision for a Croydon premises 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 affected 4 flats. The remaining number of years on the lease was 98 years.