We are hoping to purchase a 1 bedroom flat in Headington with a mortgage. We have a Headington conveyancer, however the mortgage company advise he's not on their "panel". We have to appoint one of the bank panel conveyancing practices or keep our Headington solicitor and pay for one of their panel firms to act for them. We consider that this is unjust; are we not able to require that the bank use our Headington lawyer ?
No, not really. Your mortgage offer is subject to its terms and conditions, one of which will be that lawyers will on the lender’s conveyancing panel. Until recently, most lenders had large numbers of law firms on their panels: a borrower could choose 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 Headington conveyancing lawyer to apply to be on the conveyancing panel.
Please help. My Headington solicitor is informing me me that he is legally obliged toorder Headington conveyancing searches becausethe firm are on the Santanderapproved lawyer panel. Do I not have any options here?
You have limited options available to you. Given that you are taking out a loan with a mortgage company your conveyancing practitioner has to comply with their conditions as set out in their version of the CML Conveyancing Handbook. Your solicitor would have previously signed the Terms and Conditions of your bank’s conveyancing panel appointment which obliges them to follow the Council of Mortgage Lenders’ Handbook provisions . Even if you were a cash buyer you would be ill advised not to carry out Headington conveyancing searches.
It is a dozen years since I acquired my house in Headington. Conveyancing lawyers have now been retained on the sale but I can't locate the title documents. Will this jeopardise the sale?
Don’t worry too much. Firstly there is a chance that the deeds will be retained by the mortgage company or they may stored with the conveyancers who acted in the purchase. Secondly in most cases the property will be recorded at the land registry and you will be able to prove you own the property by your conveyancing lawyers acquiring current official copies of the land registers. Most conveyancing in Headington involves registered property but in the rare situation where your property is unregistered it is more tricky but is resolvable.
Given that I will soon part with hundreds of thousands of pounds on 3 bedroom house in Headington I would like to talk to a solicitor about myconveyancing prior to giving the go ahead to the firm. Is this something that you can arrange?
This is something that we encourage - we would be delighted to talk to you we do not take any clients on without you speaking to the lawyer due to be conducting your conveyancing in Headington.There is no ‘factory style conveyancing’ - each client is an important individual, not a file number. The law firms that we put you in touch with believe that the fees you are quoted for your conveyancing in Headington should be the amount on the final invoice that you are charged.
I today plan to offer on a house that appears to be perfect, at a great price which is making it more attractive. I have since found out that it's a leasehold rather than freehold. I am assuming that there are issues purchasing a leasehold house in Headington. Conveyancing lawyers have are about to be appointed. Will they explain the issues?
Most houses in Headington are freehold and not leasehold. This is one of the situations where having a local conveyancer who is familiar with the area who can assist with the conveyancing process. We note that you are buying in Headington so you should seriously consider looking for a Headington conveyancing practitioner and check that they have experience in dealing with leasehold houses. As a matter of priority you will need to check the unexpired lease term. Being a leaseholder you will not be entirely free to do whatever you want to the property. The lease comes with conditions for example obtaining the freeholder’sconsent to carry out alterations. It may be necessary to pay a maintenance charge towards the upkeep of the estate where the property is located on an estate. Your lawyer should advise you fully on all the issues.
I am the registered owner of a leasehold flat in Headington, conveyancing formalities finalised in 1995. Can you let me have an estimated range of the fair premium for a lease extension? Comparable flats in Headington with an extended lease are worth £211,000. The ground rent is £45 levied per year. The lease comes to an end on 21st October 2092
With only 67 years unexpired we estimate the price of your lease extension to range between £10,500 and £12,000 plus legals.
The suggested premium range above a general guide to costs for extending a lease, but we are not able to provide a more accurate figure in the absence of detailed due diligence. You should 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 clearly you should be as accurate as possible in your negotiations. Neither should you take any other action placing reliance on this information without first getting professional advice.
Would local authority consent be necessary to convert a house into two appartments in Headington? This has occurred to a house opposite to my house in Headington and was unaware of it happening until it was finished.
Planning Permission yes. Building Reg Approval yes.