I opted for a high street lawyer for our conveyancing in South Croydon recently. Looking through the terms of engagement I noteI am liable for fees even if the movefalls through. Should I ditch them and choose a web based conveyancing company promoting no-sale-no-fee conveyancing in South Croydon?
It is usually ‘give and take’ in that if "No Completion No Fee" is available then the fee levels will generally be higher to neutralise the conveyances that do not proceed. Do bear in mind that such promotions rarely cover disbursements by way of example South Croydon conveyancing search charges.
Completed the sale of my flat in South Croydon last August but my buyer keeps telephoning every few hours to say her solicitor needs to hear from mine. What are the post completion sale formalities now that I have sold?
After completion of your sale your lawyer should deliver the transfer deeds and all additional paperwork to the purchaser's conveyancer. If applicable, your lawyer should also send confirmation that the home loan has been repaid to the purchasers conveyancers. There are no post completion procedures specific conveyancing in South Croydon.
I am being told by my lawyer that lack of right of way insurance is needed on my purchase. What is the typical level of cover needed for conveyancing in South Croydon?
The right level of lack of right of way indemnity insurance depends on who your lender is. It would differ for example between National Westminster Bank and Skipton Building Society. Conveyancing practitioners as opposed to borrowers take out such policies.
I am buying a property in South Croydon. One unusual aspect is that the roof has a solar panel. Aldermore have issued a mortgage offer so presumably this is not a concern to them. Why is my solicitor raising questions about the panel?
As your lender is Aldermore your lawyer must check the formal instructions outlined in Part 2 of UK Finance Lenders’ Handbook for Aldermore. The Council of Mortgage Lenders’ Handbook contains minimum conditions for solar panel roof-space leases, and conveyancing practitioners are required to report to Aldermore where a lease does not comply with these specifications. The provisions relate to the installation of panels on properties countrywide and is not restricted to South Croydon.
After what feels like an age I have had an offer on an apartment in South Croydon accepted, but there is a chain. The vendors have offered on on an apartment, but it’s not been accepted yet, and have viewings of other properties in the pipeline. I have instructed a nearby conveyancing solicitor in South Croydon. What do I do now? When should I get the mortgage application with RBS going?
It is normal to have apprehensions where there is a chain as you are unlikely to want to be too out of pocket too early (home loan application is in the region of £1k, then survey, South Croydon conveyancing search fees, etc). First, you should check that your conveyancer is on the RBS conveyancing panel. As to the next stages this very much depends on the circumstances of your transaction, motivation for this property and on the state of the market. During a rising market many purchasers would apply for a home loan with RBS and pay for the valuation and only if it comes back ok would they pay their solicitor to press on with the conveyancing in South Croydon.
How does conveyancing in South Croydon differ for newly converted properties?
Most buyers of new build residence in South Croydon come to us having been asked by the developer to sign contracts and commit to the purchase even before the house is constructed. This is because new home sellers in South Croydon tend to acquire 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 conveyancers 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 used to new build conveyancing in South Croydon or who has acted in the same development.
I've recently found out that there is a flying freehold element on a property I put an offer in last month in what should have been a quick, chain free conveyancing. South Croydon is the location of the property. Can you shed any light on this issue?
Flying freeholds in South Croydon are not the norm but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in South Croydon you must be sure that your lawyer goes through the deeds very carefully. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in South Croydon may determine that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold residence.
I've recently bought a leasehold flat in South Croydon. Am I liable to pay service charges relating to a period prior to completion of my purchase?
Where the service charge has already been demanded from the previous lessee and they have not paid you would not usually be personally liable for the arrears. However, your landlord may still be able to take action to forfeit the lease. A critical element of leasehold conveyancing for your conveyancer to ensure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.
If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).
My wife and I have hit a brick wall in trying to purchase the freehold in South Croydon. Can this matter be resolved via the Leasehold Valuation Tribunal?
in cases where there is a missing landlord or if there is dispute about what the lease extension should cost, under the relevant statutes it is possible to make an application to the LVT to assess the amount due.
An example of a Freehold Enfranchisement decision for a South Croydon premises is The Woodlands 95 Purley Park Road in April 2009. The Tribunals own valuation produced the figure of £37,912. This case affected 6 flats. The number of years remaining on the existing lease(s) was 78.32 years.