My property lawyer in Oakham is not on the Nationwide Building Society Conveyancing Panel. Can I still continue with my family solicitor notwithstanding that they are excluded from the Nationwide Building Society list of approved lawyers?
The limited options available to you here include:
- Complete the purchase with your preferred Oakham lawyers but Nationwide Building Society will need to retain a solicitor on their list of acceptable firms. This will result in additional total legal charges and result in delays.
- Get an alternative solicitor to to deal with the purchase, remembering to check they are Convince your solicitor to use their best endeavours to join the Nationwide Building Society conveyancing panel
This question may be naive but I am wet behind the ears as FTB of a ground floor flat in Oakham. Do I receive the keys to the house on completion from my solicitor? If so, I will appoint a local conveyancing solicitor in Oakham?
On the day of completion you do not need to go to the conveyancers office in Oakham. Your solicitors will electronically transfer the purchase money to the vendor’s lawyers, and once they have received this, you will be invited to collect the keys from the selling Agents and start moving into the property. Usually this occurs between 1 and 3pm.
I am purchasing a 4 bedroom semi-detached house in Oakham. Our aim is to an extension at the rear at the property.Will legal conveyancing on the property involve investigations to determine if these alterations were previously refused?
Your solicitor should check the registered title as conveyancing in Oakham can occasionally reveal restrictions in the title deeds which prohibit certain alterations or require the permission of another owner. Some additions need local authority planning consent and approval in compliance with building regulations. Some locations are designated conservation areas and special planning restrictions apply which frequently prevent or affect extensions. It would be wise to check these issues with a surveyor ahead of any purchase.
After months of negotiation I have agreed a price on a house in Oakham. My mortgage broker pressured me to appoint their solicitor. I paid an upfront payment of £175. Shortly after, the conveyancer contacted me sheepishly admitting that they were not on the Santander conveyancing panel. Am I right in thinking that I should be due a refund?
You should be able to recover this from the law firm if they were not on the Santander panel. They should have asked at the outset which lender you were obtaining a mortgage with. An important lesson to readers of this site is to check that the lawyers are on the appropriate lender panel.
My wife and I have a semi-detached Georgian house in Oakham. Conveyancing practitioner acted for me and Skipton Building Society. I did a free Land Registry search last week and there are two entries: one for freehold, the second leasehold with the exact same property. I thought I was buying a freehold how can I check?
You should assess the Freehold register you have again and check the Charges Register for 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 Oakham and other locations in the country and poses no real issues for owners other than when they buy they have to account for both freehold and leasehold interests when dealing with purchasers. You can also enquire as to the situation with your conveyancing lawyer who completed the work.
I'm converting the mortgage on my existing house to a buy to let mortgage with Coventry Building Society and I will use the rest of the raised equity as a deposit on another house. The location we are interested in is Oakham. Will your solicitors be able to act for the two banks and link together the transactions?
Make use of our comparison tool on this page to check that the conveyancers are approved by both mortgage companies. On the basis that they are the conveyancer should be able to connect the two deals but you should talk with you solicitor and make apparent your desired outcome and requirements.
I am attracted to a couple of maisonettes in Oakham which have approximately 50 years unexpired on the leases. Should I regard a short lease as a deal breaker?
There are plenty of short leases in Oakham. The lease is a right to use the premises for a period of time. As a lease gets shorter the value of the lease deteriorates and it becomes more expensive to acquire a lease extension. This is why it is generally wise to extend the lease term. More often than not it is difficult to sell a property with a short lease because mortgage companies may be reluctant to lend money on such properties. Lease enfranchisement can be a protracted process. We advise that you get professional help from a solicitor and surveyor with experience in this area.
I acquired a split level flat in Oakham, conveyancing was carried out 6 years ago. Can you shed any light on how much the price could be for a 90 year extension to my lease? Similar properties in Oakham with over 90 years remaining are worth £191,000. The average or mid-range amount of ground rent is £55 yearly. The lease runs out on 21st October 2078
With just 54 years unexpired the likely cost is going to be between £32,300 and £37,400 as well as professional fees.
The suggested premium range above a general guide to costs for renewing a lease, but we cannot give you a more accurate figure without more comprehensive investigations. Do not use this information in tribunal or court proceedings. There are no doubt additional concerns that need to be considered and clearly you should be as accurate as possible in your negotiations. Neither should you move forward placing reliance on this information before getting professional advice.
I bought a property in Oakham last 4/9/2023 and to date it is still not recorded with the Land Registry. It is part of a development site and my conveyancing practitioner told me that it can take 12 months to register. I have contacted the Land Registry directly and they say that the original application was cancelled due to questions not being addressed in time. Do I need to be concerned?
It is your conveyancer that you must turn to here in order to satisfy any concerns which have been raised as part of the registration formalities for your Oakham property. Normal Oakham conveyancing practice includes an undertaking on the part of the previous owner’s property lawyer that they will help resolve any requirements raised by HMLR so it may be a case of taking action to enforce that undertaking in some way.