We note that you have a post code search directory identifying law firms on the Kent Reliance conveyancing panel. Do firms pay you a commission if I retain them for our conveyancing in Banbury?
We are a listing service only for law firms wishing to communicate if they are on the Kent Reliance conveyancing panel or other lender panels. We do not charge referral fees to any conveyancer that you subsequently appoint for your conveyancing in Banbury.
We just had an offer accepted to buy with Coventry BS. I went into 3 or 4 local practices but am struggling to find a Banbury conveyancing firm on the Coventry BS panel. Can you assist?
Feel free to take advantage of the search tool on this site. Please choose the building society and type Banbury or your preferred area and you will discover numerous conveyancers based in Banbury or near you.
Forgive me if this question is silly but I am new to the process as FTB of a ground floor flat in Banbury. Do I collect the keys to the premises on completion from my solicitor? If so, I will instruct a local conveyancing solicitor in Banbury?
There is no need to visit the lawyers office on the day of completion. Your solicitors will electronically transfer the purchase money to the vendor’s solicitors, and shortly after the monies have arrived, you will be able to pick up the keys from the property Agents and start moving into the property. Usually this happens early afternoon.
I am the single recipient of my late father’s estate with all property in now in my sole name, including the house in Banbury. The Banbury property was put into my name in November. I plan to dispose of the property. I understand that there is a CML six month 'rule', which means that my proprietorship may be treated the same way as though I had purchased the house in November. Do I have to wait half a year to sell?
The CML handbook obliges conveyancers to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." Technically you might be impacted by that. How practical a view banks take of it, depend on the lender as this provision chiefly exists to identify subsales or the flipping of properties.
It is unclear whether my mortgage offer obliges me to make sure the lease term for the flat is extended prior to the completion date. I have telephoned my Banbury bank branch on a couple of occasions and was told it wasn't an issue and they would lend. My Banbury conveyancing solicitor - who is on the lender conveyancing panel- telephoned and was told they refuse to lend based on their UK Finance Lenders’ Handbook minimum lease term requirements. Who do I believe?
As long as the property lawyer is on the bank approved list, she or he must follow the Council of Mortgage Lenders’ Handbook conditions for the lender. Unless your lawyer obtains specific confirmation in writing that the mortgage company 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 bank to contact your lawyer in writing confirming that they will accept the number of years remaining.
I am selling my house. My previous lawyers have shut. I am in need of a recommendation of a conveyancing firm. Im based in Banbury if that makes a difference.
Do use our search tool to help you choose a solicitor for your conveyancing in Banbury. We have connected thousands of home buyers and sellers with lender approved solicitors to ensure that the legalities of their house move goes with a minimum of fuss.
Am I best advised to use a Banbury conveyancing lawyer based in the location that I am buying? An old friend can handle the legal formalities however his firm is located a couple of hundredmiles drive away.
The primary upside of using a local Banbury conveyancing practice is that you can pop in to sign paperwork, present your ID and pester them where appropriate. Having local Banbury know how is a plus. That being said nothing is more important than finding someone that will do a good and efficient job. If other friends have used your friend and on the whole were happy that must trump using an unfamiliar Banbury conveyancing solicitor solely due to them being local.
I am employed by a long established estate agency in Banbury where we have witnessed a number of leasehold sales put at risk as a result of short leases. I have been given inconsistent advice from local Banbury conveyancing firms. Could you confirm whether the vendor of a flat can initiate the lease extension process for the purchaser on completion of the sale?
As long as the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to commence the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the buyer need not have to sit tight for 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed prior to, or simultaneously with completion of the disposal of the property.
An alternative approach is to extend the lease informally by agreement with the landlord either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the purchaser.
I acquired a basement flat in Banbury, conveyancing formalities finalised half a dozen years ago. Can you work out an approximate cost of a lease extension? Comparable flats in Banbury with an extended lease are worth £260,000. The average or mid-range amount of ground rent is £45 charged once a year. The lease runs out on 21st October 2098
With only 74 years left to run we estimate the premium for your lease extension to be between £8,600 and £9,800 as well as plus your own and the landlord's "reasonable" professional fees.
The suggested premium range that we have given is a general guide to costs for extending a lease, but we cannot give you the actual costs without more comprehensive investigations. Do not use this information in tribunal or court proceedings. There are no doubt additional concerns that need to be taken into account and you obviously should be as accurate as possible in your negotiations. You should not take any other action placing reliance on this information without first seeking the advice of a professional.