My husband and I are looking to buy a flat in Banbury and have instructed a Banbury conveyancing practice. Within the past 48 hours our conveyancer has forwarded the sale agreement to be signed with a detailed report with a view to exchanging next week. National Westminster Bank have this morning contacted us to inform me that they have now hit a problem as our Banbury solicitor is not on their approved list of lawyers. Please explain?
When purchasing a property with the benefit of a mortgage it is standard for the purchasers' lawyers to also represent the purchaser's lender. In order to act for a bank or building society a law firm has to be on that lender's conveyancing panel. An application has to be made by the law firm to the lender to become a member of the lender's panel and there are increasingly strict criteria which the firm has to satisfy and indeed some lenders now require their panel members to be part of the Law Society’s Conveyancing Accreditation Scheme. Your property lawyer should contact your lender and see if they can apply for membership of their conveyancing panel, but if that is not viable they will instruct their own solicitors to act. You don't have to instruct a firm on the lender’s conveyancing panel and you may continue to use your own Banbury solicitors, in which case your legal fees may increase, and it will likely delay the transaction as you have another set of people involved.
We were just about to sign contracts for a leasehold flat in Banbury. We encountered a problem. Our mortgage offer with Platform Home Loans Ltd expires on 26/8/2025 but the vendors are putting forward a completion date of 28/8/2025. Can one prolong the mortgage expiry date?
The best person to address this issue is your solicitors who is in a position to assess if he or she is corresponding with the bank, owner’s representatives, estate agents or possibly all three taking into account the history of your house move as of today.
I have an AIP. The lender mentioned the mortgage came with free conveyancing. Is the implication that I have to use their panel lawyer as I would much rather instruct a Banbury based conveyancing firm?
Do check but the chances are that allocate you one of their panel lawyers should you accept the "fee-free" incentive. Contact the lender to determine if they make available a monetary alternative. Some lenders have previously offered a £250 cashback as an alternative in which case that money can go towards your preferred conveyancing solicitor near Banbury.
I have recentlydiscovered that Stirling Law have closed. They carried out my conveyancing in Banbury for a purchase of a freehold house 18 months ago. How can I be sure that the property is registered correctly in the name of the former proprietor?
The quickest way to check if the property is registered to you, you can make a search of the land registry (£3.00). You can either do this yourself or ask a law firm to do this for you. If you are not registered you can seek help from one of a number of Banbury conveyancing specialists.
I am buying a new build apartment in Banbury. Conveyancing is necessary evil at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build conveyancing.
Here is a sample of a selection of leasehold new build enquiries that you can expect your new-build leasehold conveyancing in Banbury
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Will control of the Management Company (if any) be handed over to purchasers on completion of the last sale or earlier? Please supply a car parking plan. The Lease must contain a provision on behalf of the Vendor to pay the service charges in respect of unoccupied units in order to ensure that all services can be provided. If there are lifts in the building, please confirm that the owners of flats on the ground and basement floors will not be required to contribute towards the cost of maintenance and renewal. Investor purchasers must be able to freely grant unsecured tenancies at market rents without requiring any consents.
How do I use your search app to get a fee calculation from a conveyancing solicitor in Banbury on the panel for my lender?
Step one is to pick a mortgage company such as Santander, Chelsea Building Society or Platform Home Loans Ltd then type in your location for instance Banbury. Conveyancing practices in Banbury and further afield should be identified.