I instructed a Croydon based solicitor for my conveyancing in Croydon today. Reviewing the Terms and Conditions it is apparent thatwe are on the hook for fees even where the conveyance does not complete. Would I be best advised to choose a web based lawyer promising no-sale-no-fee conveyancing in Croydon?
It is usually ‘give and take’ in that if "No Sale No Fee" is offered then the fee levels will generally be higher to offset those conveyances that fail to complete. You should be mindful that these arrangements rarely cover disbursements such your Croydon conveyancing search charges.
Are the BSA intent on creating a search tool with a view to to identify practices on the Darlington Building Society conveyancing panel for instance in Croydon?
We would not expect to be advised of any plans on the part of the BSA to promote such a tool.
My husband and I are at the point of looking at flats in Croydon and I am now considering a potential offer. Is it too early to have a solicitor in place? I will be getting a mortgage with Bank of Ireland.
It would be prudent to start your search sooner rather than later. After you have chosen your lawyer and once your offer is accepted you can instruct them to work for you and pass their contact information on to the EA. Given that you are taking out a mortgage with Bank of Ireland, make sure you remember to check that your lawyer is on the Bank of Ireland conveyancing panel.
The formalities of my purchase has taken place for my property in Croydon. Conveyancing was satisfactory but I would like to complain about the lender. How does one go about formally complaining?
Most lenders 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 resolved very quickly. However if you are not satisfied that the matter is not resolved you can write to Financial Ombudsman Service, South Quay Plaza, 183 Marsh Wall, London E14 9SR with full details of your complaint.
TSB have agreed my mortgage in principle, my offer on a flat in Croydon has been agreed to, now what?
Your property agent will wish to know who your solicitors are (make sure the solicitors are on the bank’s panel). Call up TSB or your financial adviser and complete any outstanding paperwork. TSB will instruct a valuer who will get in contact with the selling agent or seller to book an appointment. Once conducted (assuming no problems) it takes about a fortnight for the mortgage offer to be issued. TSB will send the offer to you and your lawyers. The legal work will then take it’s course according the nature and complexity of the conveyancing in Croydon.
I'm purchasing a new build house in Croydon with a mortgage from The Mortgage Works. The developers would not move on the price so I negotiated £7000 of extras instead. The property agent suggested that I not reveal to my conveyancer about the deal as it will impact my mortgage with The Mortgage Works. 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.
Is it best to use a Croydon conveyancing lawyer in close proximity to the house I am buying? An old friend can handle the conveyancing however his firm is located a couple of hundredmiles away.
The primary upside of using a local Croydon conveyancing practice is that you can drop in to sign documents, present your ID and pester them where appropriate. They will also have local insight which is a plus. However it's more important to get someone that will pull out all the stops for you. If if people you trust instructed your friend and in the main were happy that must trump using an unfamiliar Croydon conveyancing lawyer just because they are round the corner.
Why do I have to provide my lawyer with a list of items of identification before I can commence with my conveyancing in Croydon?
Croydon property lawyers are duty bound by the Law Society, Solicitors Regulation Authority, HMLR and current Money Laundering Regulations to certify that the have checked the identity of their clients. It will also be a requirement of your mortgage offer. In addition they have to complete various forms, particularly those relating to stamp duty land tax and need to have details such as your full names, national insurance number and date of birth.