The housing market in Oxford is hotting up. What can I do to speed up matters?
In the event that the seller is applying time constraints for your conveyancing it is advisable to make sure that your conveyancer is familiar with the area as they will benefit local contacts and intelligence. It is even conceivable that they would have conducted previoushomes in the same neighbourhood. Therefore consider using a Oxford conveyancing lawyer. In addition, double check that the lawyer is on the on the approved list for your mortgage company. It is said that nearly one in five of Oxford conveyancing deals are suspended or jeopardised after discovering a purchaser’s conveyancer was not on their banks panel. In many cases this discovery resulted in the legal transfer of property being frustrated by almost three weeks. It is claimed that this issue impacts approximately 100,000 home moves every year. Many Oxford conveyancing practices can not act for certain lenders so do check as early as possible.
My wife and I have recently appointed a conveyancing solicitor in Oxford. I I would like to check if they are accepted on the Lloyds TSB Bank approved list of lawyers. Could you help?
The first thing to do is phone your conveyancer and ask them whether they are on the lender panel. Alternatively please call Lloyds TSB Bank who may be able to assist.
I am being told by my conveyancer that absentee landlord insurance is needed on my purchase. What is the level of cover for Oxford conveyancing?
The right level of absentee landlord indemnity insurance should be dictated by who your lender. It would differ for example between Barclays and Coventry Building Society. Conveyancing lawyers as opposed to borrowers take out such policies.
We expect to receive a DIP from Barclays this week so we can work out what to offer on a property we like as otherwise we are dependent on web based calculators (which aren't taking into account credit checks etc). Do Barclays recommend any Oxford solicitors on the Barclays conveyancing panel, or is it better to find our own lawyer?
You will need to appoint Oxford solicitors independently although you'll need to choose one on the Barclays conveyancing panel. The solicitor represents both you and Barclays through the process.
After weeks of negotiation I have agreed a price on a house in Oxford. My mortgage broker recommended their conveyancers. I paid an advanced payment of £150. A few days later, the lawyer contacted me to say that they were not on the Skipton 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 Skipton 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.
As co-executor for the estate of my father I am disposing of a residence in Monmouth but I am based in Oxford. My solicitor (who is 300 miles from meneeds me to execute a stat dec ahead of the transaction finalising. Can you recommend a conveyancing lawyer in Oxford to attest and place their company stamp on the document?
strictly speaking you are not likely to need to have the documents witnessed by a conveyancing solicitor. Normally any notary public or solicitor will suffice regardless of whether they are Oxford based
Last February I purchased a leasehold property in Oxford. Do I have any liability for service charges for periods before completion of my purchase?
In a situation where the service charge has already been demanded from the previous owner and they have not paid you would not usually be personally liable for the arrears. Strange as it may seem, your landlord may still be able to take action to forfeit the lease. It is an essential part of leasehold conveyancing for your conveyancer to be sure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.
If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).
I acquired a garden flat in Oxford, conveyancing formalities finalised 10 years ago. Can you let me have an estimate of the premium that my landlord can legally expect in return for granting a renewal of my lease? Similar flats in Oxford with a long lease are worth £202,000. The average or mid-range amount of ground rent is £55 invoiced every year. The lease terminates on 21st October 2080
With just 56 years remaining on your lease the likely cost is going to be between £29,500 and £34,000 plus plus your own and the landlord's "reasonable" professional fees.
The suggested premium range that we have given is a general guide to costs for extending a lease, but we cannot give you a more accurate figure in the absence of comprehensive due diligence. Do not use the figures in tribunal or court proceedings. 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. You should not take any other action based on this information before getting professional advice.
How much experience do your Oxford conveyancing solicitors have with Help To Buy, Shared Equity and similar schemes?
Oxford conveyancing lawyers help thousands of buyers move home every year and supported lots of clients through the Help To Buy scheme. The chances are that whatever makes your case unique Oxford conveyancers have worked on recent similar cases.