Do the Building Society Association intend to launch a searchable register to to identify firms on the Loughborough BS conveyancing panel for instance in Oakley?
Lexsure has not been advised of any intention on the part of the BSA to promote such a register.
We are getting a further advance on our home loan from HSBC as we intend to conduct renovations to our property in Oakley. Are we obliged to appoint a nearby Oakley solicitor on the HSBC conveyancing panel to handle the paperwork?
HSBC don't usually require firms on their approved list of lawyers to handle the formalities. If they do require any legal work then you would need to ensure that such a lawyer was on the HSBC panel.
I have today made my last payment due on my mortgage with Co-operative. I assume I don't need a Oakley property lawyer on the Co-operative panel to discharge the mortgage at the Land Registry. Please confirm.
If you have finished paying off your Co-operative 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 Co-operative mortgage from the register. Co-operative, 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 Co-operative has sent the Land Registry the discharge electronically, and
- Co-operative has instructed the Land Registry to do so
It is unclear whether my mortgage offer obliges me to make sure the lease term for the flat is extended prior to the completion date. I have telephoned my Oakley bank branch on various occasions and was told it does not affect the mortgage offer and they would lend. My Oakley conveyancing solicitor - who is on the bank conveyancing panel- telephoned to say that they will not lend in accordance with their published requirements. I simply don't know who is right.
Your solicitor must follow the Council of Mortgage Lenders’ Handbook Part 2 requirements for your bank. Unless your lawyer obtains specific confirmation in writing that the bank will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the mortgage company to contact your lawyer in writing confirming that they will accept the number of years left on the lease.
Should my lawyer be raising questions about flooding during the conveyancing in Oakley.
The risk of flooding is if increasing concern for lawyers specialising in conveyancing in Oakley. Some people will purchase a house in Oakley, completely expectant that at some time, it may suffer from flooding. However, aside from the physical damage, if a property is at risk of flooding, it may be difficult to get a mortgage, suitable insurance cover, or dispose of the property. Steps can be carried out during the course of a house purchase to forewarn the purchaser.
Solicitors are not qualified to impart advice on flood risk, but there are a number of checks that can be initiated by the purchaser or on a buyer’s behalf which can figure out the risks in Oakley. The conventional set of completed inquiry forms supplied to a purchaser’s solicitor (where the Conveyancing Protocol is adopted) contains a standard inquiry of the owner to determine if the premises has suffered from flooding. If flooding has previously occurred which is not revealed by the seller, then a buyer may bring a compensation claim as a result of such an inaccurate answer. The purchaser’s lawyers should also commission an environmental report. This will disclose if there is any known flood risk. If so, further inquiries will need to be initiated.
Are there restrictive covenants that are commonly identified as part of conveyancing in Oakley?
Covenants that are restrictive in nature can be picked up when reviewing land registry title as part of the process of conveyancing in Oakley. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
The estate agent has sent us the confirmation of our purchase of a new build flat in Oakley. 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.
Set out below are examples of a selection of leasehold new build enquiries that you can expect your new-build leasehold conveyancing in Oakley
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Where there is an Undertaking being granted there is the risk of forfeiture of the Headlease subject to relief if one or more of the Underlessees are willing to accept the original Head Lessee’s obligations as otherwise relief will be denied to the Underlessees. The only alternatives are the Head Lessor agreeing not to forfeit the Headlease or the Head Lessee guaranteeing to the Underlessees that it will not be in breach of the Headlease. Forfeiture - bankruptcy or liquidation must not apply under this provision. Please supply a car parking plan. 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. Will the freehold then be transferred for a nominal consideration (not exceeding £100) to the Management Company?
My husband and I are FTB’s - agreed a price, but the property agent told us that the seller will only issue a contract if we use their chosen conveyancers as they are insisting on a ‘quick sale’. We would rather use a local conveyancer accustomed to conveyancing in Oakley
It is improbable the sellers are driving this. If they want ‘a quick sale', alienating a genuine purchaser is is going to put the whole deal at risk. Contact the owners directly and explain that (a)you are motivated purchasers (b)you are ready to progress, with finances in place © you are chain free (d) you intend to proceed fast (e)but you are going to instruct your preferred Oakley conveyancing solicitors - not the ones that will give their estate agent a commission or hit his conveyancing thresholds set by HQ.