Some advice if I may. My Oakwood conveyancer is assuring me that she is duty bound toconduct Oakwood conveyancing searches asthe firm are on the Santandersolicitor panel. These Oakwood searches cost a lot of money can this be avoided?
You have limited options available to you. As you are obtaining a home loan with a lender your solicitor has to comply with their conditions as set out in their version of the CML Conveyancing Handbook. Your conveyancing practitioner would have previously signed the Terms and Conditions of your lender’s conveyancing panel appointment which obliges them to comply with the CML Handbook requirements . Even if you were a cash buyer you would be ill advised not to carry out Oakwood conveyancing searches.
I am helping my mother sell her flat in Oakwood. Will the conveyancing solicitor order an energy assessment or it is for the seller to coordinate?
After the abolition of HIPs, EPC’s was kept a required element of selling a property. An EPC should be to hand prior to the property being advertised. It is not as aspect of the sale process that lawyers ordinarily arrange. Where you are instructing a Oakwood conveyancing practitioner they may be willing to arrange EPC’s due to their contacts with reputable Oakwood assessors
When it comes to mortgage companies such as HSBC, do Oakwood lawyers have to pay a fee to be on the list of approved solicitors?
We are unaware of any lender fees to register on their panel, although some do levy an administration fee to deal with the processing of the conveyancing panel submission.
I can not fathom if my mortgage offer requires a lease extension. I have telephoned my Oakwood bank branch on various occasions and was told it wasn't a problem and they will lend. My Oakwood conveyancing solicitor - who is on the lender conveyancing panel- called and was told they would not lend in accordance with their published requirements. Who do I believe?
Provided that the lawyer is on the mortgage company approved list, she or he must follow the Council of Mortgage Lenders’ Handbook provisions for the bank. Unless your lawyer obtains specific confirmation in writing that the mortgage company will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the bank to contact your lawyer in writing confirming that they will accept the number of years remaining.
I need some quick conveyancing in Oakwood as I am under a deadline to complete inside 4 weeks. Fortunately I do not need a mortgage. Is it possible to avoid the conveyancing searches to save money and time?
If.Given you are not taking a mortgage you have the choice not to have searches conducted although no law firm would advise that you don't. With lots of history conveyancing in Oakwood the following are instances of what can show up and adversely impact market value: Enforcement Notices, Overdue Charges, Overdue Grants, Unadopted Roads,...
Are there restrictive covenants that are commonly picked up as part of conveyancing in Oakwood?
Covenants that are restrictive in nature can be picked up when reviewing land registry title as part of the process of conveyancing in Oakwood. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
I decided to have a survey completed on a property in Oakwood in advance of appointing conveyancers. I have been advised that there is a flying freehold aspect to the house. Our surveyor has said that some lenders will refuse to grant a mortgage on this type of premises.
It varies from the lender to lender. Bank of Scotland has different requirements from Nationwide. Should you wish to telephone us we can check with the relevant lender. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Oakwood. Conveyancing may be slightly more expensive based on your lender's requirements.
Our conveyancer in Oakwood has uncovered a a problem with the lease for the property we are buying in Oakwood. The seller’s lawyers have put forward title insurance as a solution. We are happy with insurance and will cover the costs. Our solicitor has advised that as he is on the lender conveyancing panel he must check that the lender is happy with this solution. Are we the client or is the lender?
The short answer to your last question is that, notwithstanding the potential for a conflict of interest, you and the mortgage company are the client. A precondition to being on the lender approved panel is to comply with the UK Finance Lenders’ Handbook requirements. The UK Finance Lenders’ Handbook conditions require your lawyer to disclose issues such as defects will the lease so that the mortgage company can be afforded the opportunity to check with their valuer as to the extent that the value of the property is affected . Should you refuse to allow your lawyer to make the appropriate notification then your lawyer will have no choice but to discontinue acting for you.