My fiance and I are hoping to buy a purpose built flat in Oxford with a homeloan from Bank of Scotland.We have a Oxford conveyancing lawyer but Bank of Scotland informed us she’s not listed on their approved list of firms. It seems we are left with no choice but to instruct a Bank of Scotland panel solicitor or retain our local solicitor and pay for a Bank of Scotland panel lawyer to represent them. We feel as though this is unjust; is there anything we can do?
No, not really. The mortgage issued to you is subject to its terms and conditions, one of which will be that lawyers will be on the Bank of Scotland approved list. in the past, most lenders had large numbers of law firms on their panels: a borrower could find 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 Bank of Scotland
Can I be sure that the Oxford conveyancing solicitor on the Santander panel is any good?
When it comes to conveyancing in Oxford getting recommendations is a good 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 advise that you speak with the lawyer handling your transaction.
I currently have a mortgage with UBS for my property in Oxford. Conveyancing was finalised 12 months ago. If I am intending to rent out the flat and do not currently have a buy-to-let mortgage do I need to remortgage to a buy-to-let mortgage or inform UBS?
Your original mortgage agreement with UBS will provide that you need their approval in advance of renting your property as this is likely to be a breach of UBS’s mortgage conditions. In many cases banks or building societies will allow you to rent 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 UBS directly. It should not be necessary to do this via a UBS conveyancing panel solicitor.
Bank of Ireland have agreed my mortgage in principle, my offer on a apartment in Oxford has been accepted, what happens next?
The estate agent will need to be informed of your conveyancing practitioner's details (ensure that the lawyers are on the lender’s approved list). Telephone Bank of Ireland or the broker and finish off any outstanding paperwork. Bank of Ireland will sellect a valuer who will get in touch with the selling agent or owners to book a slot for the valuation to occur. Once conducted (assuming no problems) it takes on average a fortnight to get a mortgage offer. Bank of Ireland will issue 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 Oxford.
I require expedited conveyancing in Oxford as I have an ultimatum to exchange contracts within 4 weeks. Luckily I do not need a mortgage. Can I avoid the conveyancing searches to save fees and time?
As you are are a mortgage free buyer you have the choice not to have searches carried out although no lawyer would suggest that you don't. With plenty of history conveyancing in Oxford the following are examples of what can appear and therefore impact future saleability: Refused Planning Applications, Outstanding Fees, Overdue Grants, Railway Schemes,...
I own a renovated Victorian house in Oxford. Conveyancing practitioner represented me and Alliance & Leicester . I happened to do a free search for it on the Land Registry database and there are a couple of entries: one for freehold, another for leasehold with the matching address. I'd like to know for sure, how can I find out??
You should review 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 owner 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 mortgage they have to account for both freehold and leasehold interests when dealing with purchasers. You can also check the situation with the conveyancing solicitor who carried out the work.
Is there anything unique about your site and alternative internet conveyancing brokers for conveyancing in Oxford?
At this site secure a conveyancing costs illustration from a Solicitor or Licensed Conveyancer that appreciates the issues of your conveyancing in Oxford. Unlike many estate agents and many comparison sites we do not operate kick-back arrangements with solicitors. Some agents and online brokers 'recommend' solicitors who pay the most per referral, as opposed to the best value conveyancing in Oxford
Am I best advised to appoint a Oxford conveyancing lawyer based in the vicinity that I am buying? I have an old university friend who can execute the legal work however they are based 300miles away.
The primary upside of using a high street Oxford conveyancing firm is that you can attend the office to execute paperwork, present your identification documents and pester them if necessary. Having local Oxford know how is a benefit. That being said nothing is more important than finding someone that will do a good and efficient job. If you know people who instructed your friend and in the main were happy that must surpass using an unknown Oxford conveyancing lawyer solely due to them being round the corner.