When will exchange of contracts take place for sale conveyancing in Oakleigh Park and do I need to be at the solicitors office?
If you are local to our conveyancing solicitors in Oakleigh Park you are invited in to sign contracts. However, the lender approved solicitors we work with supply a countrywide conveyancing service and give as equally detailed and professional a job for you when dealing with you electronically. The executing of the sale agreement is not the point of no return. Signing on the dotted line simply enables the solicitor to address the formalities at the suitable time, which will usually be very shortly after signing. The exchange process is nowadays normally dealt with by telephone and can be very rapid, although where a long "chain" is involved, since the process requires the relevant party's solicitor (not necessarily a conveyancing solicitor in Oakleigh Park)to be in the office available at the end of the phone to exchange contracts.
We are purchasing a 3 bedroom apartment in Oakleigh Park with a residential mortgage from Virgin Money.We use our Oakleigh Park conveyancing practitioner but Virgin Money advised that his firm is not on their approved list of firms. we are left little option but to use a Virgin Money panel lawyer or keep our high street solicitor and pay for one of their panel ones to act for them. This seems very unfair; Can we not simply insist that Virgin Money use our lawyer?
No, not really. The mortgage issued to you contains terms and conditions, a common one being that lawyers needs to be on the Virgin Money solicitor panel. Until recently, most mortgage companies had large numbers of law firms on their panels: a borrower could find one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. A further alternative is for your solicitors to apply to be on the conveyancing panel for Virgin Money
I am being told by my solicitor that lack of right of way insurance is needed on my purchase. What is the level of cover for Oakleigh Park conveyancing?
The appropriate level of lack of right of way indemnity insurance depends on who your lender is. It would differ for example between Santander and The Royal Bank of Scotland. Conveyancing solicitors as opposed to members of the public take out such insurances.
Is there a list of Clydesdale panel conveyancers in Oakleigh Park on the Council of Mortgage Lender’s Website?
Unfortunately not yet. There is no such tool on the Council of Mortgage Lenders or Building Society Association sites. A small selection of lenders make their panel listings open the public over the internet. Where you are in need of a Oakleigh Park lawyer on the Clydesdale please use our facility.
The mortgage over my property is with Kent Reliance for my property in Oakleigh Park. Conveyancing has been completed months ago. If I am intending to rent out my property and do not currently have a buy-to-let mortgage do I need to remortgage to a BTL mortgage or inform Kent Reliance?
Your original mortgage agreement with Kent Reliance will provide that you need their approval prior to renting your property as this is likely to be a breach of Kent Reliance’s mortgage conditions. It may be that Kent Reliance will allow you to rent out your former home without needing to switch to a buy-to-let mortgage but some lenders will add a surcharge to your mortgage rate to reflect the higher risk. You should contact Kent Reliance directly. You need not do this via a Kent Reliance conveyancing panel lawyer.
I have justbeen informed that Stirling Law have closed. They conducted my conveyancing in Oakleigh Park for a purchase of a leasehold flat 10 months ago. How can I check that the property is not still registered in the name of the former proprietor?
The easiest way to see if the property is in your name, 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 Oakleigh Park conveyancing specialists.
How does conveyancing in Oakleigh Park differ for newly converted properties?
Most buyers of new build residence in Oakleigh Park contact us having been asked by the housebuilder to sign contracts and commit to the purchase even before the house is finished. This is because house builders in Oakleigh Park usually purchase the land, 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 used to new build conveyancing in Oakleigh Park or who has acted in the same development.
What does commercial conveyancing in Oakleigh Park cover?
Commercial conveyancing in Oakleigh Park incorporates a broad array of advice, offered by qualified solicitors, relating to business property. By way of example, this area of conveyancing can cover the sale or purchase of freehold business premises or, more usually, the transfer of existing leases or the drafting of new leasing arrangements. Commercial conveyancing solicitors can also offer advice on the sale of business assets, commercial mortgages and the termination of leases.