I am progressing with the sale of my ground floor flat in Oxfordshire and the EA has just telephoned to warn that the buyers are changing their conveyancer. The reason given is that the lender will only work with property lawyers on their conveyancing panel. Why would a leading lender only engage with certain solicitors rather the firm that they want to select to handle their conveyancing in Oxfordshire ?
UK lenders have always had an approved set of law firms that can represent them, but in recent years big names such as Yorkshire Building Society, have considered and reduced their conveyancing panel– in some cases removing conveyancing firms who have worked with them for more than 25 years.
Banks attribute this action to a rise in fraud by way of justification for the cull – criteria have been narrowed as a smaller panel is easier to maintain. Banks tend not to reveal how many solicitors have been dropped, claiming the information is commercially sensitive, but the Law Society says it is being contacted daily by practices that have been removed from panels. Some do not even realise they have been dropped until contacted by a borrower who has instructed them as might be the situation in your buyers' case. Your buyers are not going to have any sway in the decision.
Please help. My Oxfordshire solicitor is assuring me that he is legally obliged toconduct Oxfordshire conveyancing searches asthe firm are on the Virgin Moneyapproved lawyer panel. Is my conveyancer right?
You have limited options available to you. Given that you are taking out a loan with a mortgage company your lawyer has to comply with their conditions as set out in their version of the CML Conveyancing Handbook. Your conveyancer would have previously signed the Terms and Conditions of your bank’s conveyancing panel appointment which obliges them to follow the CML Handbook requirements . Even if you were a cash buyer you would be ill advised not to carry out Oxfordshire conveyancing searches.
Will our lawyer be making enquiries concerning flooding as part of the conveyancing in Oxfordshire.
Flooding is a growing risk for conveyancers conducting conveyancing in Oxfordshire. Plenty of people will purchase a house in Oxfordshire, fully expectant that at some time, it may be flooded. However, leaving to one side the physical destruction, if a property is at risk of flooding, it may be difficult to get a mortgage, adequate insurance cover, or dispose of the property. There are steps that can be taken as part of the conveyancing process to forewarn the purchaser.
Lawyers are not qualified to give advice on flood risk, however there are a various checks that may be carried out by the purchaser or on a buyer’s behalf which can give them a better appreciation of the risks in Oxfordshire. The standard completed inquiry forms sent to a purchaser’s solicitor (where the solicitors are adopting what is known as the Conveyancing Protocol) contains a usual question of the owner to determine if the premises has historically flooded. If the property has been flooded in past which is not notified by the seller, then a purchaser may commence a legal claim for losses as a result of such an misleading answer. The buyer’s conveyancers may also commission an enviro report. This will indicate whether there is any known flood risk. If so, additional investigations should be initiated.
Just had an offer accepted on a new build flat in Oxfordshire. Conveyancing is a frightening process at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build legal work.
Here are examples of a few leasehold new build questions that you may expect your new-build leasehold conveyancing in Oxfordshire
-
The Landlord must covenant to assume the management if the Management Company goes into liquidation or otherwise defaults in running the management scheme. Has the Lease plan been approved by the Land Registry and if not when will they be lodged for this purpose? Where service of notices and proceedings can be at the property demised please confirm that this can be amended to include simultaneous services at the Lessees’ solicitors’ offices where the Lessee from time to time is not resident in the UK - such solicitors may be varied by notice in writing to the Landlord from time to time but otherwise will be as previously specified. The Vendor must covenant to keep unsold units in good repair until long leases are granted therefore.
How easy is it to use your search app to find a conveyancing practitioner in Oxfordshire on the approved list for my lender?
1st select a bank such as Birmingham Midshires, Barnsley Building Society or TSB then specify your location e.g. Oxfordshire. Conveyancing firms in Oxfordshire and beyond will then be shown.
Online reading suggests that Oxfordshire solicitors are more expensive than licensed conveyancers in Oxfordshire when it comes to purchasing a house. So is it better if I use a conveyancer or a solicitor if I am purchasing a property in Oxfordshire.
When it comes to conveyancing in Oxfordshire the costs are unlikely to vary dramatically depending on whether the legal expert is a licenced conveyancer or solicitor.