Is the fact that my conveyancer in South Croydon is not identified on my bank's conveyancing panel that there is a problem with the quality of the firm’s work?
It would not be wise to jump to that conclusion. There are all sorts of perfectly reasonable explanations. Just recently a report by the solicitors regulator revealed 76% of law firms surveyed had been removed from at least one lender panel. The most common reasons for removal are: (1) low volume of transactions (2) the solicitor is a sole practitioner (3) as part of the HSBC panel reduction (4) regulatory contact by SRA (5) accidental removal. Should you be concerned you should simply call the South Croydon conveyancing firm and ask them why they are no longer on the approved list for your lender.
I am the registered owner of a freehold property in South Croydon but still pay rent, why is this and what is this?
It is rare for properties in South Croydon and has limited impact for conveyancing in South Croydon but some freehold properties in England (particularly common in North West England) pay an annual sum known as a Chief Rent or a Rentcharge to a third party who has no other legal interest in the land.
Rentcharge payments are usually between £2.00 and £5.00 per year. Rentcharges date back many centuries, but the Rent Charge Act 1977 barred the establishment of fresh rentcharges from 1977 onwards.
Previous rentcharges can now be extinguished by making a lump sum payment under the Act. Any rentcharges that are still in existence in 2037 is to be extinguished.
My fiance and I are hoping to buy a 2 bedroom flat in South Croydon with a loan from Alliance & Leicester .We use our South Croydon conveyancing lawyer but Alliance & Leicester says she’s not on their approved list of firms. It seems we have no choice but to instruct a Alliance & Leicester panel firm or retain our high street solicitor and pay for one of their panel ones to represent them. This seems very unfair; Can we not simply insist that Alliance & Leicester use our lawyer?
Unfortunately,no. The home loan offered to you is subject to its various provisions, a common one being that lawyers will be on the Alliance & Leicester solicitor panel. in the past, most mortgage companies had large numbers of solicitors on their panels: a borrower could choose one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. A further alternative is for your lawyer to apply to be on the conveyancing panel for Alliance & Leicester
What does a local search inform me regarding the house my wife and I buying in South Croydon?
South Croydon conveyancing often starts with the submitting local authority searches directly from your local Authority or via a personal search company for instance Onsearch The local search plays an important role in most South Croydon conveyancing purchase; as long as you wish to avoid any unpleasant once you have moved into your new home. The search should provide data on, amongst other things, details on planning applications applicable to the premises (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 headings.
I've recently found out that there is a flying freehold issue on a property I have offered on two weeks back in what was supposed to be a simple, chain free conveyancing. South Croydon is the location of the property. What do you suggest?
Flying freeholds in South Croydon are rare 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 would need to get your solicitor to go 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 ascertain 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 premises.
I need to instruct a conveyancing solicitor for sale conveyancing in South Croydon. I have discover a web site which appears to be the ideal offering If it is possible to get all the legals done via web that would be preferable. Do I need to be concerned? What should out be looking out for?
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?