In what way does my ID and proof of funds have anything to do with my conveyancing in South Croydon? Is this really necessary?
It is indeed that case that these requests have nothing to do with conveyancing in South Croydon. However these days you will not be able to complete any conveyancing deal without first providing proof of your identity. Ordinarily this takes the form of a either your passport or driving licence and a utility bill. Please note that if you are supplying your driving licence as evidence of identification it must be both the paper element and photo card part, one is not sufficient without the other.
Proof of the source of money is necessary in accordance with the Money Laundering Regulations. Please do not be offended when you are asked to produce this as your conveyancer must retain this information on file. Your South Croydon conveyancing practitioner will need to see evidence of proof of funds before they are able to accept any money from you into their client account and they may also ask further queries concerning the source of funds.
We are expecting a mortgage offer soon. The lender mentioned the loan came with free conveyancing. Is the implication that I have to use their panel solicitor as I would much rather appoint a high street conveyancing solicitor in South Croydon?
Do check but the chances are that appoint one of their panel lawyers where you want the "fee-free" deal. Speak to the bank to ask if they allow a cash alternative. It is not unheard for a lender to give a £250 cashback as a further option in which case you could put that amount towards your preferred conveyancing solicitor in South Croydon.
A colleague advised me that in buying a property in South Croydon there could be a number of restrictions affecting the ability to carry out external changes to a property. Is this right?
We are aware of a number of properties in South Croydon which have some sort of restriction or requirement of consent to external changes. Part of the conveyancing in South Croydon should determine what restrictions are applicable and advising you as part of a ROT that should be sent to you.
After months of negotiation I have agreed a price on an apartment in South Croydon. My financial adviser suggested a conveyancing practitioner. I paid an advanced payment of £200. Soon after, the lawyer called me sheepishly admitting that they were not on the Kent Reliance conveyancing panel. Am I right in thinking that I should be due a refund?
You should be able to recover this from the law firm if they were not on the Kent Reliance panel. They should have asked at the outset which lender you were obtaining a mortgage with. An important lesson to readers of this site is to check that the lawyers are on the appropriate lender panel.
I have finally had an offer on a flat in South Croydon accepted, the vendors do however have an associated purchase. The vendors have offered on on an apartment, however it’s not yet agreed to, and are looking at other properties in the pipeline. I have instructed a bricks and mortar conveyancing solicitor in South Croydon. What do I do now? At what stage should I apply for the mortgage with Lloyds?
It is understandable to have concerns where there is a chain as you are unlikely to want to be too out of pocket prematurely (mortgage application is approx one thousand pounds, then survey, South Croydon conveyancing search charges, etc). The first thing to do is ensure that your conveyancing practitioner is on the Lloyds approved list. Concerning the subsequent 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 some buyers would apply for a home loan with Lloyds and pay for the valuation and only if it comes back ok would they pay their property lawyer to move forward with the conveyancing in South Croydon.
How does conveyancing in South Croydon differ for new build properties?
Most buyers of new build or newly converted property in South Croydon contact us having been asked by the housebuilder to sign contracts and commit to the purchase even before the residence is constructed. This is because builders in South Croydon usually 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.
My father has urged me to appoint his conveyancing solicitors in South Croydon. Should I choose my own conveyancer?
There are no two ways about it the best way to find a conveyancing practitioner is to have feedback from friends or relatives who have used the solicitor that you are considering.