we are a couple who are hoping to buy a 1 bedroom flat in Oxford with a residential mortgage from The Royal Bank of Scotland.We would like to retain our Oxford conveyancing lawyer but The Royal Bank of Scotland says his firm is not on their "panel". It seems we have no choice but to instruct a The Royal Bank of Scotland panel firm or retain our local solicitor and fork out for one of their panel ones to represent them. We feel as though this is unjust; Can we not simply insist that The Royal Bank of Scotland use our lawyer?
No, not really. The loan offered to you is subject to its terms and conditions, one of which will be that solicitors must be on the The Royal Bank of Scotland approved list. Until recently, most lenders 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 The Royal Bank of Scotland
How can we know in advance if a Oxford conveyancing solicitor on the Santander panel is any good?
When it comes to conveyancing in Oxford obtaining recommendations is a sensible start. 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 which is cheap as chips. We would always recommend that you speak with the solicitor carrying out your transaction.
I currently have a mortgage with Bank of Ireland for my property in Oxford. Conveyancing was finalised months ago. If I am intending to rent out my property and do not currently have a buy-to-let mortgage do I need to remortgage to a buy-to-let mortgage or inform Bank of Ireland?
You must advise Bank of Ireland prior to renting your property as this is likely to be a breach of Bank of Ireland’s mortgage conditions. In many cases banks or building societies will permit you to let out your former home without needing to switch to a buy-to-let mortgage but some lenders will add a surcharge to your mortgage rate to reflect the higher risk. You should contact Bank of Ireland directly. You need not do this via a Bank of Ireland conveyancing panel solicitor.
Skipton have agreed my mortgage in principle, my offer on a property in Oxford has been agreed to, what are the next steps?
The estate agent will need to be informed of your solicitor's details (be sure the lawyers are on the lender’s approved list). Contact Skipton or the broker and complete any outstanding documentation. Skipton will appoint a valuer who will get in touch with the selling agent or seller to book a time for the valuation to happen. Once conducted (assuming no problems) it takes on average ten days to receive the mortgage offer. Skipton will issue the offer to you and your property lawyers. The transaction will then take it’s course according the nature and complexity of the conveyancing in Oxford.
I require quick conveyancing in Oxford as I have pressure to exchange contracts in less than one month. A mortgage is not required. Can I escape the need for conveyancing searches to save fees and time?
If.Given you are are a cash purchaser you are at free not to do searches although no lawyer would recommend that you don't. Drawing on years of experience of conveyancing in Oxford the following are examples of what can be revealed and therefore impact the marketability of the property: Enforcement Notices, Overdue Charges, Overdue Grants, Road Schemes,...
Me and my brother purchased a 4 bedroom Victorian property in Oxford. Conveyancing practitioner acted for me and HSBC Bank. I did a free Land Registry search last week and I saw two entries: the first freehold, the second leasehold under the exact same property. I'd like to know for sure, how can I find out??
You should read the Freehold register you have again and check the Charges Register as there may be mention of a lease. The best way to be sure that you are also the registered proprietor of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Oxford and other areas of the country and poses no real issues for owners other than when they remortgage they have to account for both freehold and leasehold interests when dealing with lenders. You can also check the position with your conveyancing practitioner who conducted the work.
Is there anything unique about your site and alternative online quote calculators when it comes to conveyancing in Oxford?
At this site secure an accurate costs illustration via a Solicitor or Licensed Conveyancer that appreciates the issues for your conveyancing in Oxford. Unlike many estate agents and brokerage sites we do not operate commission arrangements with solicitors. Some agents and online brokers 'recommend' solicitors that pays the most commission, not the best value conveyancing in Oxford
Am I best advised to appoint a Oxford conveyancing lawyer in close proximity to the house I am purchasing? We have a good friend who can conduct the legal work however his firm is located 400kilometers away.
The benefit of a high street Oxford conveyancing firm is that you can drop in to execute paperwork, deliver your ID and apply pressure on them if necessary. They will also have local knowledge which is a bonus. However it's more important to get someone that will do a good and efficient job. If if people you trust instructed your friend and they were content that should trump using an unfamiliar Oxford conveyancing lawyer just because they are based in the area.