I have just been advised by my lender that my Oldham property lawyer is not on the bank Conveyancing panel. How can I be sure that this is correct?
The first thing you need to do is to call your Oldham lawyer directly. You lawyer should inform you of the situation. If they are not on the panel they may recommend you to a Oldham conveyancing practice that is on the conveyancing panel for your lender.
My wife and I are soon to complete on the purchase of a property in Oldham but as a result of wreckage from the recent storms I have managed to agree compensation from the vendor in the sum of £3k taking the form of a adjustment in the price. This was going to be addressed as part of amending the contract but UBS are not allowing this. Why were they notified?
Your lawyer being on the UBS approved list is required to disclose to UBS of any amendments to the sale price. If you prohibit your property lawyer to disclose the price change to UBS then they would have to discontinue acting for you. In addition, UBS and you would have to appoint a new lawyer for your conveyancing in Oldham.
In what way does my ID and proof of funds have anything to do with my conveyancing in Oldham? Why is this being asked of me?
You are right in the requirement set out by your lawyer has nothing to do with conveyancing in Oldham. However these days you can not complete any conveyancing transaction without first supplying evidence of your identity. This usually takes the form of a either your passport or driving licence plus a council tax bill. Please note that if you are supplying your driving licence as proof of identification it must be both the paper part and photo card part, one is not acceptable without the other.
Evidence of your origin of funds is mandated under Money Laundering Regulations. Don’t be offended when when this is requested of you as your lawyer will need to have this information on file. Your Oldham conveyancing solicitor will need to see evidence of proof of funds prior to accepting any money from you into their client account and they should also ask additional questions concerning the origin of funds.
The formalities of my purchase has taken place for my property in Oldham. Conveyancing was satisfactory but I feel I should register my dissatisfaction about the lender. Who do I contact should I wish to lodge a complaint?
Almost all banks and building societies have complaints procedures. Your first port of call should be one of the lender’s branches or the Customer Services Department at head office. Ordinarily complaints to a lender are sorted out effectively and efficiently. However if you are not satisfied that the matter is not resolved you can write to Financial Ombudsman Service who will take matters further.
I can not work out if my lender obliges me to make sure the lease term for the flat is extended prior to the completion date. I have telephoned my Oldham bank branch on numerous occasions and was reassured it wasn't a problem and they will lend. My Oldham conveyancing solicitor - who is on the mortgage company conveyancing panel- called to say that they refuse to lend in accordance with their UK Finance Lenders’ Handbook minimum lease term requirements. I have no idea who is right.
Your conveyancer must follow the Council of Mortgage Lenders’ Handbook section two requirements for your bank. Unless your lawyer obtains specific confirmation in writing that the lender 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 remaining.
I have instructed a Oldham conveyancer having checked that they are on the Nationwide conveyancing panel. Does my lawyer arrange the survey of the property?
Nationwide will need an independent valuation of the property. Your lawyer will not arrange this. Usually Nationwide will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey. Your solicitor will not organise the survey but they may be able to put you in touch with a local one that they recommend. RICS offers a find a surveyor service (just google it) where you can search for a qualified surveyor by your Oldham postcode. As you are getting a mortgage with Nationwide, you could contact them to see if they have a list of approved surveyors in Oldham.
four months have gone by following my purchase conveyancing in Oldham took place. I have checked the Land Registry site which shows that I paid £150,000 when infact I paid £215,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the property from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
How can the Landlord & Tenant Act 1954 affect my business property in Oldham and how can your lawyers assist?
The 1954 Act gives a safeguard to commercial lessees, giving them the dueness to apply to court for a renewal lease and continue in occupation at the end of the lease term. There are limited grounds that a landlord can refrain from granting a lease renewal and the rules are complex. Fees are different for commercial conveyancing. Oldham is one of the many locations in which the firms we work with are based