I can't travel far from Ongar. I would like to know the reason why all Ongar lawyers aren't included on all lender panels?
Pre- 2008 most banks had an attitude to risk which is different from today. The financial regulator in 2010 carried out a thematic review into property fraud which concluded: know the lawyers on your panel. Consequently, mortgage companies have since soughtmore information from law firms regarding their processes and the individuals employed by them and set certain criteria such as completing a minimum number of transactions. Hundreds of firms have found themselves excluded from lender panels even though they had an exemplary track record, no complaints and zero claims and didn't just 'dabble' in conveyancing. Such firms were never going to satisfy the minimum volume of transactions the lenders required.
Having sold my house in Ongar last October yet the purchaser is Skype messaging me to moan that his lawyer is waiting to hear from mine. What are the post completion sale legalities following completion?
After completion of your sale your conveyancer is committed to deliver the transfer deeds and all of the paperwork to the purchaser's conveyancer. If applicable, your lawyer must also confirm that the mortgage has been discharged to the purchasers solicitors. There is unlikely to be post completion steps unique to conveyancing in Ongar.
Are all Ongar Conveyancing Quality Solicitors on the Aldermore conveyancing panel?
Some major lenders now make use of the accreditation scheme as the starting point for Panel approval such as HSBC and Santander. CQS membership however is no guarantee to lender panel acceptance. Nevertheless,the CML have indicated that it is likely to become a pre-requisite for firms wishing to remain on their approved list of conveyancing solicitors.
When it comes to mortgage companies such as Barclays, do Ongar conveyancing practitioners face a fee to be on the list of approved solicitors?
We are unaware of any mortgage company fees to be on their panel, although some do levy an administration fee to deal with the processing of the conveyancing panel submission.
Principality have agreed my home loan in principle, my offer on a apartment in Ongar has been accepted, what happens next?
The property agent will wish to know who your solicitors are (ensure that the property lawyers are on the bank’s approved list). Contact Principality or the financial adviser and finalise any relevant paperwork. Principality will sellect a valuer who will get in contact with the estate agent or vendor to book an appointment. Once carried out (assuming no problems) it takes about ten days for the mortgage offer to be issued. Principality will send the offer to you and your conveyancers. The legal work will then take it’s course according the nature and complexity of the conveyancing in Ongar.
Do I need to pay for insurance to protect me from financial exposure to chancel repairs when purchasing a property in Ongar?
Unless a previous purchase of the house took place post 12 October 2013 you could assume that conveyancing practitioners delivering conveyancing in Ongar to continue to recommend a chancel search and or chancel repair liability insurance.
I've recently found out that there is a flying freehold issue on a property I put an offer in last month in what should have been a straight forward, chain free conveyancing. Ongar is the location of the property. Can you offer any opinion?
Flying freeholds in Ongar are unusual but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Ongar you would need to get your solicitor to go through the deeds thoroughly. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Ongar may ascertain 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 premises.
I am looking into buying my first house which is in Ongar and I am already nervous. I couldn't find anything specific about Ongar. Conveyancing will be needed in due course but do you know about the Ongar area? or perhaps some other tips you can share?
Rather than looking online forget looking online you should go and have a look at Ongar. In the meantime here are some basic statistics that we found