I am getting a offer of a home loan from Nat West. I intend to enlist the help of a Licensed Conveyancer in Oxford. Does the Nat West Solicitor panel exclude Licensed Conveyancers?
The Nat West approved solicitor list is, like many other lenders, represented by the Council or Mortgage Lenders or BSA, open to Licensed Conveyancers regulated by the CLC.
There are a variety of conveyancing solicitors in Oxford but how do I know who I should use?
We would encourage you not to go for the cheapest Oxford conveyancing quote. You really do get what you pay for when it comes to property lawyers. A cheap quote may mean that the conveyancing solicitor is handling a lot of jobs at one time and you won’t get the quality of service and the attention that you need. It is, however, wise to use a conveyancer who has a fixed fee on a no sale, no fee basis. This way, you go into the conveyancing with your eyes wide open.
I am expecting a AIP from Santander this week so we can work out what to offer on a property we like as otherwise we only have online calculators to go by (which aren't taking into account credit checks etc). Do Santander recommend any Oxford solicitors on the Santander conveyancing panel, or is it better to go independently?
You will need to appoint Oxford solicitors independently although you'll need to choose one on the Santander conveyancing panel. The solicitor represents both you and Santander through the process.
I was told four weeks ago that my mortgage has been agreed to by Skipton. Is it usual for Skipton to only issue the offer once my solicitor in Oxford is approved on their conveyancing panel? Skipton have asked my solicitor to see a copy of their Professional Indemnity Insurance Schedule.
A lender would not issue an offer until they have details of a lawyer on their panel. It can take a few weeks for Skipton to deal with your lawyer's application to be on the Skipton conveyancing panel. There's no guarantee that your solicitor will be accepted.
What will a local search tell me about the property my wife and I buying in Oxford?
Oxford conveyancing often starts with the ordering local authority searches directly from your local Authority or through a personal search organisations such as Searches UK The local search plays a central role in most Oxford conveyancing purchase; as long as you don’t want any unpleasant once you have moved into your new home. The search will provide data on, amongst other things, details on planning applications applicable to the premises (whether granted or refused), building control history, any enforcement action, restrictions on permitted development, nearby road schemes, contaminated land and radon gas; in all a total of 13 topic areas.
It has been three months since my purchase conveyancing in Oxford took place. I have checked the Land Registry site which shows that I paid £200,000 when infact I paid £160,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the property from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
I am purchasing my first flat in Oxford with the aid of help to buy. The developers would not budge the price so I negotiated 6k of extras instead. The house builders rep suggested that I not to tell my conveyancer about this deal as it may adversely affect my loan with the lender. Is this normal?.
All lenders require a Disclosure of Incentives Form from the builder 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.
Due to the encouragement of my in-laws I had a survey completed on a house in Oxford ahead of instructing lawyers. I have been advised that there is a flying freehold element to the house. The surveyor advised that some mortgage companies tend refuse to give a loan on this type of property.
It varies from the lender to lender. HSBC has different instructions for example to Halifax. If you call us we can check with the relevant mortgage company. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Oxford. Conveyancing will be smoother if you use a solicitor in Oxford especially if they are acquainted with such properties in Oxford.