Why would I appoint a Banbury conveyancing firm given that national conveyancers are cheap by comparison?
Its a good idea to shop around for conveyancing costs in Banbury and you should seek a competitive estimate but don’t be focused with getting the cheapest Banbury conveyancer. Identifying the right conveyancer can be the distinction between a seamless and a frustrating house move. It is important that you ensure that you have expert guidance from a trusted lawyer. An e-mail can never replace a telephone conversation and can never replicate a face to face appointment. The firms that we work with will appoint you a qualified and experienced conveyancing solicitor who can deal with your conveyancing from start to finish, giving the sort of continuity that you are unlikely to received from an internet conveyancer. Our lawyers will contact you regularly to update you on headway making sure that you are ensuring that you are updated at regular intervals. Should it ever be necessary to phone the office you will be sure who to ask for and they will be sure you're not left wondering what's going on.
We are getting closer to an exchange on a flat in Banbury and my mum and dad have transferred the 10% deposit to my conveyancer. I am now informed that as the deposit has been received from someone other than me my conveyancer needs to disclose this to my mortgage company. Apparently, in also acting for the lender he must inform them that the balance of the purchase price is coming from anyone other than me. I advised the lender regarding my parents' contribution when I applied for the home loan, so is it really necessary for this now to hold matters up?
Your lawyer is obliged to check with lender to make sure that they are aware that the balance of the purchase price is not from your own funds. The solicitor can only notify this to your mortgage company if you permit them to, failing which, your lawyer must cease to continue acting.
I purchased a freehold property in Banbury yet charged rent, why is this and what is this?
It’s unusual for properties in Banbury and has limited impact for conveyancing in Banbury 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 have existed for hundreds of years, but the Rent Charge Act 1977 barred the creation of fresh rentcharges from 1977 onwards.
Previous rentcharges can now be redeemed by making a lump sum payment under the Act. Any rentcharges that are still in existence post 2037 is to be dispensed with completely.
Is there a search tool that I can utilise to investigate if the solicitor handling my conveyancing in Banbury is on the mortgage lender’sconveyancing panel? I am looking to avoid the situation of having one lawyer for me and one for Halifax thus paying £175.00 in additional legal charges.
Feel free to take advantage of the search tool on this site. Pick the lender and type ‘Banbury’ or your preferred area and you will be presented with numerous solicitors located in Banbury or near you.
Is it correct that all Banbury CQS (Conveyancing Quality Scheme) solicitors are on the Coventry BS conveyancing panel?
It is true that some lenders now use the accreditation scheme as the starting point for Panel membership such as HSBC and Santander. CQS accreditation however is no guarantee to lender panel acceptance. Nevertheless,the CML have indicated that it is likely to become a pre-requisite for solicitors wishing to join their approved list of conveyancing solicitors.
It is not clear whether my bank requires a lease extension. I have called my Banbury building society branch on numerous occasions and was told it wasn't an issue and they will lend. My Banbury conveyancing solicitor - who is on the mortgage company conveyancing panel- telephoned to say that they will not lend in accordance with their UK Finance Lenders’ Handbook minimum lease term requirements. I have no idea who is right.
The conveyancer has to follow the CML Handbook Part 2 requirements for your bank. Unless your lawyer obtains specific confirmation in writing that the bank will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the mortgage company to contact your lawyer in writing confirming that they will accept the number of years left on the lease.
Our offer on a house in Banbury has been agreed to, but there is a chain. The owners have offered on somewhere, but it’s not yet agreed to, and are looking at other properties in the pipeline. I have chosen a bricks and mortar conveyancing solicitor in Banbury. What should be my next step? When do I get the mortgage application with Virgin Money going?
It is normal to have concerns where there is a chain as you are unlikely to want to be too out of pocket prematurely (home loan application is in the region of one thousand pounds, then valuation, Banbury conveyancing search costs, etc). First, you must ensure that your conveyancing practitioner is on the Virgin Money conveyancing panel. Concerning the subsequent phase this very much dictated by the circumstances of your transaction, desire for the property and on the state of the market. In a buoyant market the majority of home buyers would apply for the mortgage with Virgin Money and pay for the valuation and only if it was satisfactory would they request their conveyancing practitioner to press on with the conveyancing in Banbury.
I used Stirling Law several years ago for my conveyancing in Banbury. I now require my papers but the law firm has closed. What do I do?
Do call the Solicitors Regulatory Authority (SRA) to help locate 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 Banbury of the conveyancing firm of solicitors you previously used, the name of conveyancing solicitor with whom you had dealings, and the date on which you last had dealings with the firm.