Having sold my house in Oxfordshire last August yet the purchaser is texting me to say his conveyancer needs to hear from mine. What are the post completion sale formalities now that I have sold?
Following your sale your lawyer should send the transfer documentation and all additional paperwork to the purchaser's lawyers. Depending on the transaction, your lawyer should also confirm that the legal charge in favour of the lender has been paid off to the buyers solicitors. There are no post completion tasks just for conveyancing in Oxfordshire.
We are purchasing a apartment in Oxfordshire. I might seem paranoid but how we can trust a conveyancer? At some point we have to deposit funds into their account. What protection do we have from them run away with our money?
Be assured that all money in a Solicitors client account is 100% safe, and even if your Solicitor ran off with it, the Law Society would reimburse you fully.
I currently have a mortgage with RBS for my property in Oxfordshire. Conveyancing was finalised months ago. In the event that I decide to rent out my property and do not currently have a buy-to-let mortgage do I need to remortgage to a BTL mortgage or inform RBS?
RBS must be informed of your intention prior to renting your property as this is likely to be a breach of RBS’s mortgage conditions. It may be that RBS 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 RBS directly. You need not do this via a RBS conveyancing panel lawyer.
Nottingham have agreed my mortgage in principle, my offer on a apartment in Oxfordshire has been accepted, what are the next steps?
The property agent will wish to be advised as to your property lawyer's details (make sure the solicitors are on the bank’s approved list). Telephone Nottingham or the broker and complete any relevant documentation. Nottingham will instruct a valuer who will get in contact with the estate agent or seller to schedule an appointment. Once conducted (assuming no problems) it takes approximately a fortnight for the mortgage offer to be issued. Nottingham will issue the offer to you and your lawyers. The transaction will then take it’s course according the nature and complexity of the conveyancing in Oxfordshire.
Will my solicitor be raising questions regarding flooding during the conveyancing in Oxfordshire.
Flooding is a growing risk for solicitors dealing with homes in Oxfordshire. There are those who acquire a house in Oxfordshire, completely expectant that at some time, it may suffer from flooding. However, leaving to one side the physical damage, where a property is at risk of flooding, it may be difficult to obtain a mortgage, satisfactory insurance cover, or dispose of the property. There are steps that can be taken during the course of a house purchase to forewarn the buyer.
Solicitors are not best placed to offer advice on flood risk, however there are a number of checks that may be undertaken by the buyer or by their conveyancers which should give them a better appreciation of the risks in Oxfordshire. The conventional set of property information forms given to a purchaser’s lawyer (where the solicitors are adopting what is known as the Conveyancing Protocol) includes a standard question of the seller to find out whether the premises has ever been flooded. In the event that the premises has been flooded in past which is not revealed by the vendor, then a buyer could bring a compensation claim resulting from an misleading reply. A buyer’s lawyers may also carry out an enviro report. This will disclose if there is a recorded flood risk. If so, more detailed investigations will need to be initiated.
I am buying a new build house in Oxfordshire benefiting from help to buy. The sellers refused to reduce the price so I negotiated £7000 of extras instead. The property agent suggested that I not to tell my solicitor about this deal as it could jeopardize my mortgage with the bank. Should I keep quiet?.
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 opted to have a survey completed on a property in Oxfordshire before instructing solicitors. I have been informed that there is a flying freehold aspect to the house. The surveyor advised that some lenders will not grant a loan on a flying freehold home.
It depends who your proposed lender is. Lloyds has different instructions for example to Birmingham Midshires. If you e-mail us we can check with the relevant mortgage company. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Oxfordshire. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Oxfordshire to see if the conveyancing will be more expensive.
What is the best way of identifying a cost effective conveyancing in Oxfordshire?
First ask the people you trust who they would recommend. Option 2 is to look on the web for conveyancing in Oxfordshire. Call two or three from the list and ask them to send you their conveyancing quote and discuss your needs with the solicitor who will handle your conveyancing before you commit. Third is to make use of our search tool to assist you in finding the right solicitors taking into account your unique requirements including location,speed, complexity and who your intended mortgage company is.Do not be fooled by £99 conveyancing solicitors in Oxfordshire