We are buying a apartment in Croydon. I might seem paranoid but how we can trust a conveyancer? On the day of competition we have to put our life savings into their account. What protection do we have from them run away with our deposit?
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.
What is the difference between a licensed conveyancer and conveyancing solicitor in Croydon
There are many registered licenced Conveyancers in Croydon and Solicitor partnerships in Croydon to choose from We would stress that both are supervised by regulatory bodies with both specialising in the legal work in the home buying process. They may both also handle associated property related work such as remortgage conveyancing, enfranchisement and transfer of equity conveyancing.
My solicitor has informed me that chancel insurance is necessary on my purchase. What is the level of cover for Croydon conveyancing?
The appropriate level of chancel indemnity insurance should be dictated by who who your lender is. It would differ for example between Santander and Norwich and Peterborough Building Society. Conveyancing lawyers as opposed to borrowers take out such insurances.
I have been told that property searches are the primary cause of obstruction in Croydon conveyancing transactions. Is this right?
The Council of Property Search Organisations (CoPSO) has noted the findings of a review by MoveWithUs that conveyancing searches do not feature within the top 10 causes of delays in the conveyancing process. Local searches are not likely to be the root cause of holding up conveyancing in Croydon.
I'm buying my first flat in Croydon benefiting from help to buy. The builders refused to reduce the price so I negotiated five thousand pounds worth of fixtures and fittings instead. The house builders rep told me not reveal to my solicitor about the deal as it would put at risk my mortgage with Britannia. Should I keep quiet?.
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.
Due to the input of my in-laws I had a survey completed on a property in Croydon ahead of instructing conveyancers. I have been informed that there is a flying freehold overhang to the house. Our surveyor advised that some mortgage companies tend not give a loan on such a home.
It depends who your proposed lender is. HSBC has different instructions for example to Halifax. Should you wish to call us we can investigate further via the appropriate bank. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Croydon. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Croydon to see if the conveyancing will be more expensive.
Do I need to be concerned about third parties that I am dealing with are recommending a national conveyancing firm as opposed to a High Street Croydon conveyancing practice?
As with lots of professional services, often referrals from family and friends can be worth their weight in gold. Yet there are many players in a conveyancing matter; estate agents, financial adviser and lenders might all put forward conveyancers to select. Sometimes these solicitors might be known to one of the organisations as one of the best in their field, but occasionally there might be a financial incentive behind the recommendation. You are at liberty to choose your preferred conveyancer. However, bear in mind that many lenders specify a panel list of lawyers you must use for the lender related work in your house move.
I need to retain a conveyancing solicitor for freehold conveyancing in Croydon. I have chance upon a site which appears to be the ideal solution If it is possible to get all formalities done via phone 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?