My partner and I are hoping to purchase a property in Oundle and have instructed a Oundle conveyancing practice. Within the last couple of days our lawyer has sent a preliminary report and documents to look through with the expectation that exchange is imminent. National Westminster Bank have this afternoon contacted us to inform me that there is now an issue as our Oundle conveyancer is not on their conveyancing panel. Is this a problem?
Where you are buying a property needing a mortgage it is usual for the purchasers' solicitors to also represent the mortgage company. 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 are not legally obliged to appoint a law firm on the bank's conveyancing panel as you are at liberty to use your preferred Oundle lawyers, in which case your legal fees may increase, and it may delay matters as you have another set of people involved.
My husband and I are nearing an exchange on a property in Oundle and my parents have sent the 10% deposit to my lawyer. I am now told that as the deposit has not arrived from me my property lawyer needs to make a notification to my lender. Apparently, in also acting for the bank he must inform them that the balance of the purchase price is coming from anyone other than me. I informed the lender concerning my parents' contribution when I applied for the home loan, so is it really necessary for him to raise this?
Your conveyancer is legally required to check with lender to ensure that they understand that the balance of the purchase price is not from your own funds. The solicitor can only notify this to your bank if you permit them to, failing which, your lawyer must cease to continue acting.
Can I be sure that the Oundle conveyancing solicitor on the Kent Reliance panel is any good?
When it comes to conveyancing in Oundle seeking recommendations is a sensible starting point. Before you go ahead, check if they offer a no sale no fee offer. Also, you often get what you pay for - a firm which quotes more, will often provide a better service than one advertising the lowest fees. We would always suggest that you speak with the lawyer carrying out your transaction.
I am selling my apartment. I had a double glazing fitted in May 2006, but did not receive a FENSA certificate or Building Regulation Certificate. My buyer's lender, Santander are being problematic. The Oundle solicitor who is on the Santander conveyancing panel is recommending indemnity insurance as a solution but Santander are insisting on a building regulation certificate. Why do Santander have a conveyancing panel if they don't accept advice from them?
It is probably the case that Santander have referred the matter to their valuer. The reason why Santander may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing was correctly and safely installed. The indemnity insurance merely protects against enforcement action which is very unlikely anyway.
Barclays have agreed my mortgage in principle, my bid on a property in Oundle has been accepted, what happens next?
Your estate agent will wish to be advised as to your lawyer's details (ensure that the solicitors are on the bank’s approved list). Call up Barclays or your financial adviser and complete any outstanding paperwork. Barclays will appoint a valuer who will get in touch with the estate agent or owners to arrange a time for the valuation to happen. Once carried out (assuming no problems) it takes about a fortnight for the mortgage offer to be issued. Barclays will issue the offer to you and your solicitors. The transaction will then take it’s course according the nature and complexity of the conveyancing in Oundle.
Just had an offer accepted on a new build flat in Oundle. Conveyancing is necessary evil at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build legal work.
Set out below are examples of a few leasehold new build questions that you should expect your new-build leasehold conveyancing in Oundle
-
There must be mutual enforceability of lessee’s covenants. The Lease must contain a provision on behalf of the Vendor to pay the service charges in respect of unoccupied units in order to ensure that all services can be provided. Will the freehold then be transferred for a nominal consideration (not exceeding £100) to the Management Company? Will control of the Management Company (if any) be handed over to purchasers on completion of the last sale or earlier?
Yesterday I discovered that there is a flying freehold issue on a property I have offered on last month in what should have been a straight forward, no chain conveyancing. Oundle is the location of the property. What do you suggest?
Flying freeholds in Oundle are rare but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Oundle you would need to get your solicitor to go through the deeds very carefully. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Oundle may decide 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 property.
I am looking for a conveyancing lawyer in Oundle for my house move. Is it possible to check a solicitor's complaints history with the legal regulator?
One may read published Solicitor Regulator Association (SRA) determinations resulting from investigations started on or after 1 January 2008. Visit Check a solicitor's record. To find information about the period before 1 January 2008, or to check a solicitors history, telephone 0870 606 2555, 08.00 - 18.00 any week day save for Tuesday when lines open at 9.30am. For non-uk callers, dial +44 (0)121 329 6800. The regulator may recorded call for training reasons.