My husband and I are hoping to buy a 1 bedroom apartment in Norbury with a mortgage. We would like to retain our Norbury lawyer, however the bank advise he's not on their "panel". We have to appoint one of the lender panel conveyancing practices or continue with our Norbury conveyancer and pay for one of their panel firms to act for them. We regard this is inequitable; is there anything we can do?
Unfortunately,no. The mortgage offered to you is subject to its terms and conditions, one of which will be that lawyers will on the lender’s conveyancing panel. Until recently, most lenders had large numbers of law firms 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. Another option that might be available is for your Norbury conveyancing lawyer to apply to be on the conveyancing panel.
Should conveyancers ask for money up-front when it comes to conveyancing in Norbury?
If you are buying a property in Norbury your lawyer will request that you place them with funds to cover the search fees. Ordinarily this is asked for to cover the fees of the Local Authority Search. When the deposit is payable against the purchase price then this should be required immediately before exchange of contracts. Any further balance that is due should be transferred shortly before completion.
There are plenty of conveyancing solicitors in Norbury but how do I know who I should use?
Do not opt for the lowest Norbury conveyancing costs illustration. You really do get what you’re paying for when it comes to conveyancing solicitors. A cheap quote may mean that the conveyancing solicitor is handling a lot of jobs at one time and you won’t get the quality of service and the attention that you need. It is, however, wise to use a conveyancer who has a fixed fee on a no sale, no fee basis. This way, you know exactly what you’ll have to pay in ahead of time.
I am due to exchange contracts on my house. I had a double glazing fitted in November 2008, but did not receive a FENSA certificate or Building Regulation Certificate. My purchaser’s lender, Santander are being a right pain. The Norbury solicitor who is on the Santander conveyancing panel is saying indemnity insurance will be fine but Santander are insisting on a building regulation certificate. Why do Santander have a conveyancing panel if they don't accept advice from them?
It is probably the case that Santander have referred the matter to their valuer. The reason why Santander may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing was correctly and safely installed. The indemnity insurance merely protects against enforcement action which is very unlikely anyway.
HSBC have agreed my mortgage in principle, my offer on a flat in Norbury has been accepted, now what?
Your property agent will wish to know who your solicitors are (be sure the conveyancers are on the bank’s approved list). Call up HSBC or the broker and finish off any relevant paperwork. HSBC will instruct a valuer who will get in contact with the selling agent or owners to book an appointment. Once carried out (assuming no problems) it takes about ten days to get a mortgage offer. HSBC will issue the offer to you and your solicitors. The legal work will then take it’s course according the nature and complexity of the conveyancing in Norbury.
I used Wolstenholmes a few years ago for my conveyancing in Norbury. I now require my papers however the law firm has closed. What do I do?
Do contact the Solicitors Regulatory Authority (SRA) to assist in tracking down your conveyancing files. They can be contacted on please contact on 0870 606 2555. Alternatively, you should use their online form to make an enquiry. You will need to provide the SRA with as much information as possible to assist their search, including the name and address in Norbury of the conveyancing firm of solicitors you previously hired, the name of conveyancing solicitor with whom you had dealings, and the date on which you last had dealings with the firm.
How does conveyancing in Norbury differ for newly converted properties?
Most buyers of new build residence in Norbury come to us having been asked by the housebuilder to exchange contracts and commit to the purchase even before the house is built. This is because new home sellers in Norbury usually purchase the real estate, 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 conveyancing solicitors 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 accustomed to new build conveyancing in Norbury or who has acted in the same development.