I can't travel far from Oldham. I would like to know the reason why all Oldham conveyancers aren't automatically on all bank panels?
Pre- 2008 most mortgage companies exhibited an approach to risk which differs from the current day. The FSA in 2010 carried out a thematic review into mortgage fraud which concluded: know the lawyers on your panel. Accordingly, banks have subsequently looked to extract more data from law firms about their processes and the individuals who work for them and set certain criteria such as completing a minimum volume of transactions. Hundreds of firms have found themselves removed from lender panels even though they had an exemplary disciplinary record, no complaints and zero claims and didn't just 'dabble' in conveyancing. Such firms found it impossible meet the criteria of volume of transactions the mortgage companies insisted on.
I am purchasing a property without a mortgage in Oldham. I have been living for the previous Seventeen years in Oldham. Conveyancing searches are a lot of money. As I have knowledge of the area and road intimately should I not bother getting the solicitor to do all the conveyancing searches?
Provided that you do not need a home loan, then the vast majority of the Oldham conveyancing searches are optional. Your lawyer will 'advise', no-doubt strongly, that you should have searches carried out, but she has a professional duty to do this. One thing to bear in mind; if you are intend to dispose of the house at a future date, it will likely be be of importance to your future buyer what the searches disclose. There are plenty of instances where premises with functional issues can still reveal adverse search results. A good conveyancing solicitor in Oldham will provide you some helpful guidance concerning this.
Does a directory service exist listing Leeds Building Society panel conveyancers in Oldham on the UK Finance Lenders’ Handbook Website?
Unfortunately not yet. There is no such tool on the CML or Building Society Association sites. A small selection of lending institutions make their panel listings available on the web. If you are in need of a Oldham conveyancer on the Leeds Building Society please use our facility.
I'm at the point of looking at flats in Oldham and I am now considering a potential offer. Should I already have a lawyer appointed at this stage? I will be getting a home loan with Barclays.
You should start requesting conveyancing quotes from solicitors ASAP. After you have chosen your lawyer and once your offer is accepted you can instruct them to work for you and pass their contact information on to the selling agent. Given that you are obtaining a mortgage with Barclays, make sure you remember to check that your lawyer is on the Barclays conveyancing panel.
I've read lots of mortgage guides, I note that it is considered advisable to get your house surveyed prior to buying it. When I asked my local Oldham solicitor - who is on the RBS conveyancing panel - on this she said they don't do this and I need to contract an independent surveyor. Is that normal?
RBS will need an independent valuation of the property. Your lawyer will not arrange this. Usually RBS 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. You may wish to consider appointing your own Oldham surveyor to carry out a survey or prepare a home buyers report on the property. It is up to you to satisfy yourself that the property is structurally sound before you buy it. If the survey or report reveals that building work is needed, you should tell your solicitor. You may wish to renegotiate with the seller.
Are there restrictive covenants that are commonly identified during conveyancing in Oldham?
Covenants that are restrictive in nature can be picked up when reviewing land registry title as part of the process of conveyancing in Oldham. 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…’
My husband and I are new to the buying process - had an offer accepted, yet the property agent informed us that the vendor will only go ahead if we use the agent's preferred conveyancers as they want an ‘expedited deal’. Our preferred option is to instruct a family conveyancer used to conveyancing in Oldham
It is improbable the sellers are driving this. Should the seller require ‘a quick sale', taking such a hostile approach to a motivated purchaser is not the way to achieve this. Bypass the agents and go straight to the sellers and explain that (a)you are keen to buy (b)you are excited to move forward, with finances in place © you do not need to sell (d) you wish to move quickly (e)however you will continue to instruct your preferred Oldham conveyancing lawyers - not the ones that will earn their estate agent a referral fee or hit his conveyancing targets demanded by senior management.
What can I do to discover who owns a property in Oldham?
Provided the property is registered with HMLR, and you have sufficient information of the location of the property, you will be able to view results from the the Land Registry of the registered proprietor for a for less than a fiver.