My wife and I are planning to acquire a 3 bedroom flat in Oakleigh Park with a mortgage. We have a Oakleigh Park conveyancer, but the bank advise he's not on their "panel". We have to appoint one of the lender panel conveyancing practices or keep our Oakleigh Park conveyancing practitioner as well as pay for one of their panel ones to represent them. We regard this is inequitable; can we not require that the lender use our Oakleigh Park solicitor ?
Unfortunately,no. The mortgage offered to you is subject to its terms and conditions, one of which will be that lawyers will on the bank’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. Another option that might be available is for your Oakleigh Park conveyancing lawyer to apply to be on the conveyancing panel.
We were just about to sign contracts for a leasehold flat in Oakleigh Park. We have hit a snag. Our mortgage offer with Skipton Building Society expires on 15/5/2024 but the owners are putting forward a completion date of 17/5/2024. Is it possible to extend the loan offer?
The best person to deal with your concern is your lawyer who will determine whether they better off negotiating with the bank, seller’s representatives, property agents or conceivably all three based on the history of your house move as of today.
I am told that my conveyancing solicitors will need to check that the building insurance for my purchase of a house in Oakleigh Park. My lender is Nationwide Building Society
Nationwide Building Society have specific requirements as set out in the UK Finance Lenders’ Handbook. As of 15/3/2024, the requirements read as follows :
My relative recommended that where I am buying in Oakleigh Park I should ask my conveyancer to carry out a Neighbourhood, Planning and Local Amenity Search. Can you explain what the purpose of this search is?
This is a search is usually included in the estimate for your Oakleigh Park conveyancing searches. It is not a small document of more than thirty pages, listing and detailing significant information about Oakleigh Park around the property and the people living there. It incorporates an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the Oakleigh Park Housing Market, Council Tax Banding, the type of People living in the area, the dominant type of Housing, the Average Property Price, Crime statistics, Local Education with plans and statistics, Local Amenities and other useful data concerning Oakleigh Park.
I am buying my first flat in Oakleigh Park with a loan from Nottingham Building Society. The builders refused to reduce the price so I negotiated 6k of extras instead. The estate agent advised me not reveal to my conveyancer about the extras as it may affect my loan with Nottingham Building Society. Do I keep my lawyer in the dark?.
All lenders require a Disclosure of Incentives Form from the developer 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.
Given that I am about to spend 450k on a house in Oakleigh Park I would like to talk to a lawyer about mytransaction in advance of appointing the firm. Is this something that you can arrange?
This is something that we recommend - it is our preference to talk to you we do not take any clients on without you speaking to the lawyer due to be carrying out your property ownership legalities in Oakleigh Park.There is no ‘factory style conveyancing’ - every client is unique person, not a file number. The solicitors that we put you in touch with believe that the fees you are provided with for your conveyancing in Oakleigh Park should be the figure that you are charged.