I can't travel far from Upper Norwood. What is the rationale as to why all Upper Norwood solicitors are not on all bank panels?
Before the recession most lenders exhibited an approach to risk which differs from the current day. The FSA in 2010 carried out a thematic review into mortgage fraud which in summary warned lenders: know the lawyers on your panel. Accordingly, mortgage companies have since looked to extract more data from law firms regarding their operations and the staff employed by them and set certain criteria such as completing a minimum volume of transactions. Hundreds of firms have been removed from lender panels even though they had an exemplary track record, no complaints and no claims and didn't just 'dabble' in conveyancing. Many firms found it impossible satisfy the criteria of volume of transactions the lenders set.
Do the conveyancing solicitors listed on your site carry out auction conveyancing in Upper Norwood?
We know of a number of niche solicitors we can put you in touch with those conducting auction conveyancing. Upper Norwood is just one of the many areas of in which our lawyers have a presence.
What does my ID and proof of funds have anything to do with my conveyancing in Upper Norwood? Is this really warranted?
It is indeed that case that the requirement set out by your lawyer has nothing to do with conveyancing in Upper Norwood. However these days you will not be able to proceed with any conveyancing process in the absence providing proof of your identity. Ordinarily this takes the form of a either your passport or driving licence and a bank statement. Remember if you are providing your driving licence as proof of identification it needs to be both the paper part as well as the photo card part, one is not satisfactory without the other.
Proof of the origin of money is mandated in accordance with the Money Laundering Regulations. Please do not be offended when when this is requested of you as your conveyancer must have this information on record. Your Upper Norwood conveyancing practitioner will require evidence of proof of funds prior to accepting any money from you into their client account and they will also ask additional queries regarding the origin of monies.
Over the last few months I have been searching for a leasehold apartment up to £195,000 and identified one round the corner in Upper Norwood I like with open areas and transport links in the vicinity, the downside is that it only has 52 years unexpired on the lease. I can't really find anything else in Upper Norwood suitable, so just wondered if I would be making a mistake buying a lease with such few years left?
If you need a home loan the remaining unexpired lease term will likely be problematic. Discount the offer by the anticipated lease extension will cost if it has not already been discounted. If the existing owner has owned the premises for a minimum of 2 years you can request that they commence the lease extension formalities and then assign it to you. An additional ninety years can be extended on to the current lease term and have £0 ground rent by law. You should consult your conveyancing lawyer regarding this matter.
In searching the internet for the words cheap conveyancing in Upper Norwood it reveals numerous conveyancersin the area. With so much choice what is the best way to find the right conveyancer for me?
The preferential method of finding the right conveyancer is through a personal recommendation, so ask colleagues and relatives who have bought a property in Upper Norwood or the respected estate agent or financial adviser. Charges for conveyancing in Upper Norwood vary, so it's advisable to request a minimum of four estimates from different property lawyers. Be sure to secure confirmation what costs in the quote includes.
Are all Upper Norwood solicitors on every lender conveyancing panel?
You can use our search tool or you can go into your local lender branch in Upper Norwood. Chances are that they will be in a position to recommend some reputable conveyancing solicitors in Upper Norwood