I am not well enough to travel far from Norbury. What is the rationale as to why all Norbury lawyers aren't included on all bank panels?
Before the recession most lenders displayed an attitude to risk which is different than today. The financial regulator in 2010 conducted a thematic review into fraud which concluded: know the solicitors on your panel. As a result, banks have since requiredmore information from law firms regarding their operations and the staff employed by them and set certain criteria such as completing a minimum volume of transactions. Many firms have been excluded from lender panels even though they had an exemplary track record, no complaints and zero claims and didn't just 'dabble' in conveyancing. Such firms were never going to meet the criteria of amount of transactions the lenders set.
What is the first thing I need to know regarding purchase conveyancing in Norbury?
You may not hear this from too many lawyers but conveyancing in Norbury or throughout England and Wales is an adversarial process. In other words, when it comes to conveyancing there exists an abundance of opportunity for confrontation between you and others involved in the legal transfer of property. For instance, the seller, property agent and even potentially a mortgage company. Selecting a law firm for your conveyancing in Norbury is a critical decision as your conveyancer is your adviser, and is the ONLY party in the legal process whose interest is to protect your best interests and to keep you safe.
We are witnessing a definite ongoing adversarial element to conveyancing- someone must be blamed for the process being so protracted. You should always trust your lawyer ahead of all other players when it comes to the legal transfer of property.
When it comes to lenders such as Aldermore, do Norbury conveyancing practitioners incur a fee to be on the conveyancing panel?
We are not aware of any bank fees to register on their panel, although some do charge an administration charge to deal with the processing of the conveyancing panel application.
How can we tell if a Norbury conveyancing solicitor on the Virgin Money panel is any good?
When it comes to conveyancing in Norbury seeking recommendations is a sensible starting point. Before you go ahead, check if they offer a no sale no fee offer. Also, you often get what you pay for - a firm which quotes more, will often provide a better service than one which is cheap as chips. We would always recommend that you speak with the solicitor carrying out your transaction.
My husband and I have organised a further advance on our mortgage from Virgin Money as we intend to conduct alterations to our home in Norbury. Are we obliged to choose a bricks and mortar Norbury solicitor on the Virgin Money conveyancing panel to deal with the paperwork?
Virgin Money would not normally instruct firms on their approved list of lawyers to handle the formalities. If they do require any legal work then you would need to ensure that such a lawyer was on the Virgin Money conveyancing panel.
What will a local search tell me regarding the property my wife and I buying in Norbury?
Norbury conveyancing often commences with the submitting local authority searches directly from your local Authority or through a personal search organisations for example PSG The local search is essential in every Norbury conveyancing purchase; that is if you don’t want any unpleasant once you have moved into your new home. The search should provide data on, amongst other things, details on planning applications relevant to the property (whether granted or refused), building control history, any enforcement action, restrictions on permitted development, nearby road schemes, contaminated land and radon gas; in all a total of 13 topic areas.
My husband and I are FTB’s - had an offer accepted, yet the property agent advised that the vendor will only move forward if we instruct the agent's preferred conveyancers as they are insisting on an ‘expedited deal’. We would rather use a high street conveyancer who is accustomed to conveyancing in Norbury
We suspect that the seller is unaware of this request. Should the vendor want ‘a quick sale', alienating a genuine purchaser is is going to put the whole deal at risk. Speak to the owners direct and make the point that (a)you are motivated purchasers (b)you are excited to move forward, with mortgage lined up © you do not need to sell (d) you intend to proceed fast (e)but you intend to appoint your own,trusted Norbury conveyancing firm - as opposed tothose that will give the estate agent a commission or meet his conveyancing thresholds demanded by senior management.
I have recently placed an offer on an apartment in Norbury and the mortgage adviser that we are using suggested his conveyancing practitioner. He quoted £1000 excluding VAT and disbursements. Does this sound steep?
Don't just go on a single estimate. One should obtain like-for-like quotes for your conveyancing in Norbury. Then pick one that you are comfortable with and crucially, is on the approved panel of the bank that you have applied for a mortgage from.