When it comes to mortgage companies such as Principality, do Kidlington solicitors have to pay a fee to be on the list of approved solicitors?
We are not aware of any bank fees to register on their panel, although some do charge an administration charge to deal with the processing of the conveyancing panel application.
Two weeks ago we had a mortgage agreed in principle with RBS. Kidlington conveyancing practitioners were instructed. How long does it take for RBS to forward the offer to the lawyer?
Some lenders take longer than others. Have RBS completed the valuation? Have you advised RBS as to your lawyers' details and checked that your lawyers are on the RBS conveyancing panel? Sometimes it can take as long as six weeks for a mortgage offer to be issued.
I was told three weeks ago that my mortgage has been agreed to by Nottingham. Is it usual for Nottingham to only issue the offer once my solicitor in Kidlington is approved on their conveyancing panel? Nottingham have asked my solicitor to see a copy of their PI Insurance.
A lender would not issue an offer until they have details of a lawyer on their panel. It can take a few weeks for Nottingham to deal with your lawyer's application to be on the Nottingham conveyancing panel. There's no guarantee that your solicitor will be accepted.
How does conveyancing in Kidlington differ for newly converted properties?
Most buyers of new build property in Kidlington come to us having been asked by the builder to exchange contracts and commit to the purchase even before the residence is finished. This is because house builders in Kidlington usually purchase the site, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancing solicitors as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are accustomed to new build conveyancing in Kidlington or who has acted in the same development.
I've recently found out that there is a flying freehold element on a property I put an offer in last month in what was supposed to be a quick, chain free conveyancing. Kidlington is the location of the property. What do you suggest?
Flying freeholds in Kidlington are rare but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Kidlington you would need to get your solicitor to go through the deeds thoroughly. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Kidlington may determine that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold residence.
We're FTB’s - agreed a price, but the property agent advised that the owners will only go ahead if we instruct their preferred conveyancers as they are insisting on a ‘quick sale’. My instinct tells me that we should use a family solicitor who is familiar with conveyancing in Kidlington
It is highly unlikely the owners are behind this. If they require ‘a quick sale', alienating a serious buyer is likely to cause more damage than good. Contact the sellers directly and explain that (a)you are serious purchasers (b)you are excited to move forward, with finances arranged © you have nothing to sell (d) you intend to proceed fast (e)but you intend to use your preferred Kidlington conveyancing solicitors - not the ones that will provide their estate agent a commission or hit his conveyancing targets demanded by corporate headquarters.
Expecting to sign contracts shortly on a studio apartment in Kidlington. Conveyancing solicitors assured me that they will have a report out to me within the next couple of days. What should I be looking out for?
Your report on title for your leasehold conveyancing in Kidlington should include some of the following:
-
The landlord’s rights to access the flat. You should be made aware that your landlord has rights of access as well as be informed how much notice must be provided. What options are available to the landlord where you breach a clause of your lease? Additions to the property Are you allowed to have a pet in the flat? Your lawyers should enable you to have an understanding of the building insurance obligations
I bought a split level flat in Kidlington, conveyancing having been completed half a dozen years ago. Can you let me have an estimate of the premium that my landlord can legally expect in return for granting a renewal of my lease? Corresponding properties in Kidlington with an extended lease are worth £222,000. The ground rent is £50 per annum. The lease expires on 21st October 2096
You have 71 years left to run we estimate the premium for your lease extension to span between £9,500 and £11,000 as well as legals.
The suggested premium range that we have given is a general guide to costs for renewing a lease, but we cannot give you the actual costs in the absence of comprehensive due diligence. You should not use this information in tribunal or court proceedings. There may be additional issues that need to be considered and you obviously should be as accurate as possible in your negotiations. Neither should you move forward based on this information without first seeking the advice of a professional.
I need to switch lawyers as my Kidlington lawyer is not on the bank's panel of conveyancing solicitors. Is it practical to instruct different lawyers?
If you haven't yet appointed a solicitor to commence the conveyancing and at this stage simply received quotes, you're perfectly free to choose a different solicitor to carry out your work for you. The best way is to get recommendations from friends or family who have actually used the solicitor or conveyancer in Kidlington that you're thinking of instructing.