My fiance and I are hoping to purchase a property in Ottershaw and have appointed a Ottershaw conveyancing firm. Within the last couple of days our solicitor has forwarded the sale agreement to be signed with a detailed report with the expectation that exchange is imminent. Nationwide Building Society have this afternoon contacted us to inform me that there is now an issue as our Ottershaw conveyancer is not on their conveyancing panel. Is this a problem?
When purchasing a property with the benefit of a mortgage it is usual for the purchasers' lawyers to also act for the purchaser's lender. In order to act for a bank or building society a law firm has to be on that lender's conveyancing panel. An application has to be made by the law firm to the lender to become a member of the lender's panel and there are increasingly strict criteria which the firm has to satisfy and indeed some lenders now require their panel members to be part of the Law Society’s Conveyancing Quality Scheme. Your solicitor should contact your mortgage company and see if they can apply for membership of their conveyancing panel, but if that is not viable they will instruct their own solicitors to act. You don't have to instruct a firm on the lender’s conveyancing panel as you are at liberty to use your preferred Ottershaw lawyers, in which case your legal fees may increase, and it may delay matters as you have another set of people involved.
In the event thatI was to purchase a simple residential housein Ottershaw for cash and dispense with a survey and no conveyancing searches how much could I expect to to save on my conveyancing in Ottershaw?
Any savings you would make will be limited to the disbursement for searches. The solicitor is obliged to do the vast majority of work - money laundering, communicating with your vendors lawyer, stamp duty return, register the property etc. A slight saving might be made by not having to register a mortgage however it will not be meaningful.
My fiance and I are buying a 2 bedroom apartment in Ottershaw with a homeloan from Leeds Building Society.We have a Ottershaw conveyancing lawyer but Leeds Building Society advised that he's not listed on their "panel". We have to appoint a Leeds Building Society panel solicitor or retain our high street solicitor and fork out for a Leeds Building Society panel lawyer to act for them. We feel as though this is unjust; Can we not simply insist that Leeds Building Society use our lawyer?
No, not really. The mortgage issued to you is subject to its terms and conditions, one of which will be that conveyancers will be on the Leeds Building Society conveyancing panel. in the past, most banks had large numbers of law firms on their panels: a borrower could choose 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 Leeds Building Society
I have recentlybecome aware that Wolstenholmes have been shut down. They carried out my conveyancing in Ottershaw for a purchase of a leasehold apartment 12 months ago. How can I be sure that my home is not still registered in the name of the previous owner?
The easiest method to see if the property is registered to you, 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 Ottershaw conveyancing specialists.
I've recently found out that there is a flying freehold element on a house I have offered on two weeks back in what was supposed to be a quick, chain free conveyancing. Ottershaw is where the house is located. What do you suggest?
Flying freeholds in Ottershaw are rare but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Ottershaw you must be sure that your lawyer goes through the deeds very carefully. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Ottershaw 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 residence.
My business partner and I are planning to take over a lease of an office on the high street. Can you recommend lawyers offering no-sale-no costs for commercial conveyancing in Ottershaw for less than £2000?
We are happy to recommend firms who have an in-depth of experience of commercial conveyancing in Ottershaw, including the disposal and purchase of businesses as well as simply property. Whether you are intending to buy or dispose of a shop, pub, restaurant, office, retail premises or a whole business we will put you in touch with the right firm. As for the costs these will vary based on the structure and heads of terms of the proposed transaction. Let us have your details or call us so that we may supply you with a fixed commercial conveyancing quote.