Much to our surprise we have been notified by our mortgage broker that my East Oxford solicitor is not on the mortgage company Conveyancing panel. How can I be sure whether this is correct?
The first thing you need to do is to contact your East Oxford conveyancer. It is reasonable to expect your lawyer to inform you what has happened. Where they are not on the panel they could put your in touch with solicitors on the conveyancing panel for your bank.
I am under pressure from the owner of a property in East Oxford to sign contracts within four weeks. What can I do to speed up matters?
First, If the seller is applying time constraints for your conveyancing it is highly recommended that your solicitor is familiar with the location as they will make use of local contacts and knowledge. It is even conceivable that they may have transacted previoushomes in the same street. Therefore consider using a East Oxford conveyancing firm. In addition, double check that the lawyer is on the member panel. It is estimated that nearly one in five of East Oxford conveyancing transactions are frustrated or derailed after discovering a purchaser’s lawyer was not on their banks list of approved solicitors. In many cases this discovery resulted in the conveyancing being held up by an average of three weeks. It is understood that this issue affects in the region of one hundred thousand home sales annually. Many East Oxford conveyancing firms can not act for certain banks so do check as early as possible.
I am selling my home in East Oxford. Will my conveyancing practitioner have to be required to be on the Skipton conveyancing panel in order to deal with paying off my mortgage?
Ordinarily, even if your lawyer is not on the Skipton conveyancing panel they can still act for you on your sale. It might be that the lender will not release the original deeds (if applicable and increasingly irrelevant) until after the mortgage is paid off. You should speak to your lawyer directly before you start the process though to ensure that there is no problem as lenders are changing their panel criteria fairly frequently currently.
I am purchasing a property in East Oxford. One unusual aspect is that the roof has a solar panel. Solicitors conducting should look into this right? Will my lender Nottingham be concerned?
As you are obtaining a mortgage with Nottingham your lawyer must follow the formal requirements outlined in Section two of UK Finance Lenders’ Handbook for Nottingham. The Council of Mortgage Lenders’ Handbook includes minimum conditions for solar panel roof-space leases, and lawyers are required to report to Nottingham where a lease fails to satisfy these requirements. The requirements relate to the installation of panels on properties countrywide and is not restricted to East Oxford.
I have paid off my mortgage with Aldermore. I assume I don't need a East Oxford solicitor on the Aldermore panel to remove the mortgage at the Land Registry. Am I right?
If you have finished paying off your Aldermore mortgage, they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the Aldermore mortgage from the register. Aldermore, and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:
- but are not moving to another property
- where Aldermore has sent the Land Registry the discharge electronically, and
- Aldermore has instructed the Land Registry to do so
I am due to exchange contracts on my house. I had a double glazing fitted in November 2007, but did not receive a FENSA certificate or Building Regulation Certificate. My purchaser’s lender, Coventry BS are being a right pain. The East Oxford solicitor who is on the Coventry BS conveyancing panel is recommending indemnity insurance as a solution but Coventry BS are requiring a building regulation certificate. Why do Coventry BS have a conveyancing panel if they don't accept advice from them?
It is probably the case that Coventry BS have referred the matter to their valuer. The reason why Coventry BS may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing was correctly and safely installed. The indemnity insurance merely protects against enforcement action which is very unlikely anyway.
We're FTB’s - agreed a price, yet the estate agent told us that the owners will only issue a contract if we use the agent's chosen solicitors as they want a ‘quick sale’. We would rather use a high street solicitor with experience of conveyancing in East Oxford
We suspect that the seller is unaware of this request. If they desire ‘a quick sale', taking such a hostile approach to a serious purchaser is is going to put the whole deal at risk. Avoid the agents and go straight to the owners and make the point that (a)you are keen to buy (b)you are excited to move forward, with mortgage lined up © you are unencumbered (d) you wish to move quickly (e)but you are going to instruct your preferred East Oxford conveyancing firm - as opposed tothose that will earn the estate agent a introducer fee or meet his conveyancing thresholds set by senior management.
Completion is due on our sale of a £350,000 flat in East Oxford next Thursday. The managing agents has quoted £396 for Landlord’s certificate, insurance certificate and previous years statements of service charge. Is the landlord entitled to charge such fees for a flat conveyance in East Oxford?
East Oxford conveyancing on leasehold apartments normally involves the purchaser’s solicitor submitting questions for the landlord to address. Although the landlord is not legally bound to respond to these enquiries the majority will be content to assist. They are at liberty to charge a reasonable administration fee for responding to enquiries or supplying documentation. There is no set fee. The average costs for the paperwork that you are referring to is £350, in some transactions it exceeds £800. The management information fee invoiced by the landlord must be accompanied by a summary of rights and obligations in respect of administration fees, otherwise the charge is technically not due. In reality you have little choice but to pay whatever is demanded if you want to sell the property.
I inherited a ground floor flat in East Oxford, conveyancing was carried out 3 years ago. Can you shed any light on how much the price could be for a 90 year extension to my lease? Equivalent properties in East Oxford with a long lease are worth £260,000. The ground rent is £50 per annum. The lease terminates on 21st October 2100
With just 75 years unexpired we estimate the premium for your lease extension to range between £8,600 and £9,800 plus legals.
The suggested premium range that we have given is a general guide to costs for extending a lease, but we are not able to supply the actual costs in the absence of detailed investigations. You should not use the figures in a Notice of Claim or as an informal offer. There may be other concerns that need to be considered and clearly you should be as accurate as possible in your negotiations. You should not move forward placing reliance on this information before getting professional advice.