I plan on purchasing an apartment in Oxford. My Conveyancer is not listed on the lender solicitor list. Can I still appoint my Oxford conveyancing solicitor notwithstanding that they are not on the mortgage company list of approved lawyers?
You have a number of choices available to you here
- Carry on with your preferred Oxford solicitor but your mortgage company will undoubtedly instruct a conveyancing practitioner on their conveyancing panel. The net result is additional charges and probable delay.
- Get a fresh solicitor to act in the purchase, making sure they are on the mortgage company conveyancing panel.
- Convince your lawyer to attempt to join the mortgage company panel
What does my ID and proof of funds have anything to do with my conveyancing in Oxford? Is this really warranted?
Oxford conveyancing solicitors and indeed property practitioners accross the UK have an obligation under money laundering regulations to check the identity of any client in order to ensure that clients are who they say they are.
Conveyancing clients are required to produce two forms of certified ID; proof of ID (typically a Passport or Driving Licence) and proof of address (typically a Bank Statement no older than three months).
Confirmation of the origin of monies is also required under the money laundering statutes as conveyancers are obliged to check that the funds you are utilising to purchase a property (whether it be the deposit for exchange or the full purchase amount where you are buying without a mortgage) has come from legitimate source (such as an inheritance) as opposed to the product of criminal activity.
What can a local search tell me about the house I am buying in Oxford?
Oxford conveyancing often starts with the ordering local authority searches directly from your local Authority or via a personal search organisations for instance PSG The local search is essential in every Oxford conveyancing purchase; that is if you wish to avoid any unpleasant surprises after you move into your new home. The search will provide information on, amongst other things, details on planning applications relevant to the premises (whether granted or refused), building control history, any enforcement action, restrictions on permitted development, nearby road schemes, contaminated land and radon gas; in all a total of thirteen subject areas.
I'm purchasing a new build house in Oxford with the aid of help to buy. The builders refused to budge the price so I negotiated 6k of fixtures and fittings instead. The property agent suggested that I not to tell my lawyer about this extras as it would adversely affect my mortgage with the bank. Do I keep my lawyer in the dark?.
All lenders require a Disclosure of Incentives Form from the builder of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
I have been on the look out for a flat up to £305k and found one near me in Oxford I like with amenity areas and station in the vicinity, however it's only got 49 remaining years left on the lease. There is not much else in Oxford in this price bracket, so just wondered if I would be making a mistake purchasing a lease with such few years left?
If you require a mortgage that many years will be an issue. Discount the price by the anticipated lease extension will cost if not already taken into account. If the current owner has owned the premises for at least 2 years you may ask them to commence the lease extension formalities and pass it to you. You can add 90 years to the existing lease term with a zero ground rent applied. You should speak to your conveyancing solicitor regarding this matter.
My boyfriend is purchasing a basement flat in Oxford. He was given a quote by the conveyancer suggested by the estate agents and it came to £1300 . It was 7 years ago I sold and purchased a home and it cost was £500. Have fees really increased to that extent?
We would recommend that you visit a few local Oxford conveyancing firms requesting prices. It is advisable to base your decision not only on cost, but on promptness and on how comprehensive the reply is.