My financial adviser says he needs my East Oxford law firm’s panel member for the Lloyds conveyancing panel. Can you suggest how I obtain this. I have contacted my local East Oxford branch but they don't know it.
You are best placed to get this information from your East Oxford solicitor . They retain a central record lender panel numbers.
I am in a contract race with another prospective purchaser for a property in East Oxford. What can I do to speed up matters?
First, If you are under a tight deadline for your conveyancing it is highly recommended that your conveyancer is familiar with the area as they will benefit local relationships and know-how. It is possible that they may have conducted otherproperties in the same neighbourhood. Therefore consider using a East Oxford conveyancing solicitor. In addition, ensure that the lawyer is on the lender panel. It is claimed that 18% of East Oxford conveyancing deals are held up or derailed after finding out that a purchaser’s lawyer was not on their mortgage lender’s panel. This can often result in the legal process being frustrated by an average of three weeks. It is said that this issue affects in the region of one hundred thousand home sales annually. Many East Oxford conveyancing firms can not represent certain lenders so do check at the outset.
Can you clarify what the consequences are if my solicitor is expelled from the Principality Solicitor panel ahead of completing my conveyancing in East Oxford?
The first thing to point out is that, this is a very rare occurrence. In most cases even where a law firm is removed off of a panel the lender would allow the completion to go ahead as the lender would appreciate the difficulties that they would place you in if you have to instruct a new solicitor days before completion. In a worst case scenario where the lender insists that you instruct a new firm then it is possible for a very good lawyer to expedite the conveyancing albeit that you may pay a significant premium for this. The analogous situation is where a buyer instructs a lawyer, exchanges contracts and the law firm is shut down by a regulator such as the SRA. Again, in this situation you can find lawyers who can troubleshoot their way to bring the conveyancing to a satisfactory conclusion - albeit for a fee.
I opted to have a survey completed on a house in East Oxford prior to appointing lawyers. I have been informed that there is a flying freehold aspect to the house. My surveyor advised that some banks tend not grant a mortgage on this type of property.
It varies from the lender to lender. Santander has different instructions for example to Birmingham Midshires. If you call us we can look into this further via the appropriate mortgage company. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in East Oxford. Conveyancing will be smoother if you use a solicitor in East Oxford especially if they regularly deal with such properties in East Oxford.
How can the Landlord & Tenant Act 1954 affect my commercial premises in East Oxford and how can you help?
The particular law that you refer to affords a safeguard to commercial lessees, giving them the dueness to make a request to court for a new tenancy and continue in occupation when the lease comes to an end. There are certain specified grounds that a landlord can refrain from granting a lease renewal and the rules are complex. Fees are different for commercial conveyancing. East Oxford is one of the hundreds of areas of the UK in which our lawyers have offices
Can you provide any advice for leasehold conveyancing in East Oxford with the aim of saving time on the sale process?
- Much of the delay in leasehold conveyancing in East Oxford can be avoided where you appoint lawyers the minute your agents start marketing the property and ask them to put together the leasehold documentation which will be required by the purchasers’ lawyers. You may think that you are aware of the number of years remaining on your lease but it would be advisable double-check via your conveyancers. A purchaser's conveyancer will not be happy to advise their client to proceed with the purchase of a leasehold property the remaining number of years is under 75 years. It is therefore essential at an early stage that you consider whether the lease for your property needs extending. If it does, contact your solicitors before you put your home on the market for sale. If you have had any disputes with your landlord or managing agents it is very important that these are resolved prior to the flat being marketed. The buyers and their solicitors will be reluctant to purchase a property where there is a current dispute. You may have to bite the bullet and discharge any arrears of service charge or settle the dispute prior to the buyers completing the purchase. It is therefore preferable to have any dispute settled ahead of the contract papers being issued to the buyers’ solicitors. You will still have to reveal particulars of the dispute to the buyers, but it is clearly preferable to reveal the dispute as historic as opposed to ongoing. In the event that you altered the property did you need the Landlord’s consent? Have you, for example laid down wooden flooring? Most leases in East Oxford state that internal structural changes or addition of wooden flooring require a licence from the Landlord acquiescing to such works. Should you fail to have the approvals in place you should not contact the landlord without contacting your lawyer before hand.
I invested in buying a garden flat in East Oxford, conveyancing formalities finalised in 1995. Can you shed any light on how much the price could be for a 90 year extension to my lease? Equivalent flats in East Oxford with a long lease are worth £186,000. The average or mid-range amount of ground rent is £55 levied per year. The lease ends on 21st October 2077
You have 53 years unexpired we estimate the price of your lease extension to range between £27,600 and £31,800 plus professional fees.
The suggested premium range above a general guide to costs for renewing a lease, but we cannot give you the actual costs without more detailed investigations. Do not use this information in a Notice of Claim or as an informal offer. There are no doubt additional issues that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. Neither should you take any other action placing reliance on this information before getting professional advice.