I am one month into the sale of my house in Bicester and the EA has just text me to advise that the purchasers are swapping solicitor. The excuse is that the lender will only work with solicitors on their approved list. Why would a leading lender only engage with certain law firms rather the firm that they want to appoint to handle their conveyancing in Bicester ?
Banks have always had an approved set of law firms that can represent them, but in the last few years big names such as Santander, have considered and reduced their conveyancing panel– in some cases removing conveyancing firms who have acted for them for more than 15 years.
Banks blame a rise in fraud as the reason for the reduction – criteria have been stiffened as a smaller panel is easier to oversee. No lender will say how many solicitors have been dropped, claiming the information is commercially sensitive, but the Law Society claims that it is hearing daily from firms that have been removed from panels. Plenty of firms do not even realise they have been dropped until contacted by a borrower who has instructed them as might be the situation in your buyers' case. Your buyers are not going to have any impact on this.
is it true that all Bicester solicitors on the Yorkshire BS conveyancing panel are overseen by the SRA?
As a firm of solicitors, in order to be on the Yorkshire BS approved list of solicitors they would need to be governed by the SRA. Many banks do allow licenced conveyancers on their panel and in such a situation the firms would be regulated by the CLC.
I am buying a property in Bicester. A rare aspect is that the roof has a solar panel. Solicitors conducting should look into this right? Will my lender RBS be concerned?
Given that your lender is RBS your lawyer must comply with the formal instructions set out in Section two of UK Finance Lenders’ Handbook for RBS. The Council of Mortgage Lenders’ Handbook contains minimum specifications for solar panel roof-space leases, and property lawyers are required to report to RBS where a lease fails to meet these provisions. The provisions relate to the installation of panels on properties in England and Wales and is not limited to Bicester.
My wife and I are at the point of viewing houses in Bicester and I am about to put in an offer. Is it advisable to have my lawyer on ‘stand by’? I will be getting a mortgage with Nationwide.
You should start obtaining conveyancing quotes from solicitors ASAP. After you have chosen your lawyer and once your offer is accepted you can instruct them to work for you and forward their details on to the selling agent. As you are seeking a mortgage with Nationwide, ask your prospective lawyers if they are on the Nationwide conveyancing panel otherwise they can't do the mortgage legal work.
A relative recommended that if I am buying in Bicester I should ask my conveyancer to perform a Neighbourhood, Planning and Local Amenity Search. Can you explain what the purpose of this search is?
This is a search is occasionally quoted for as part of the standard Bicester conveyancing searches. It is not a small report of about 40 pages, listing and detailing important information about Bicester around the property and the people living there. It includes an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the local Housing Market, Council Tax Banding, the demographics of People living in the area, the dominant type of Housing, the Average Property Price, Crime details, Bicester Education with maps and statistics, Local Amenities and other useful data about Bicester.
I have recentlydiscovered that Action Conveyancing have been shut down. They carried out my conveyancing in Bicester for a purchase of a leasehold apartment 9 months ago. How can I establish that my home is not still registered in the name of the previous owner?
The easiest way to check if the property is registered to you, you can carry out 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 Bicester conveyancing specialists.
I am selling my home. My past conveyancers has retired. It would be helpful to have a recommendation of a conveyancing firm. Im based in Bicester if that makes a difference.
You should use our search tool to help you find a solicitor for your conveyancing in Bicester. We have connected thousands of home buyers and sellers with lender approved solicitors to ensure that the legalities of their house move runs with a minimum of fuss.
I have just appointed agents to market my garden flat in Bicester. Conveyancing lawyers have not yet been instructed, but I have recently received a half-yearly maintenance charge demand – Do I pay up?
Your conveyancing lawyer is likely to suggest that you should discharge the invoice as usual because all ground rent and maintenance invoices should be apportioned as part of the financial calculations for completion monies, so you will be reimbursed by the purchaser for the period running from after the completion date to the subsequent invoice date. Most management companies will not acknowledge the buyer unless the service charges have been paid and are up to date, so it is important for both buyer and seller for the seller to show that they are up to date. Having a clear account will assist your cause and will leave you no worse off financially.
I bought a 1 bedroom flat in Bicester, conveyancing formalities finalised December 1995. Can you let me have an estimated range of the fair premium for a lease extension? Comparable flats in Bicester with a long lease are worth £186,000. The average or mid-range amount of ground rent is £55 yearly. The lease finishes on 21st October 2079
With only 53 years remaining on your lease the likely cost is going to be between £27,600 and £31,800 plus legals.
The suggested premium range that we have given is a general guide to costs for renewing a lease, but we cannot give you a more accurate figure without more detailed due diligence. Do not use this information in a Notice of Claim or as an informal offer. There are no doubt other concerns that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. Neither should you move forward placing reliance on this information before seeking the advice of a professional.