I am one month into the sale of my house in Oxford and the estate agent has just telephoned to warn that the purchasers are changing their law firm. The excuse is that the lender will only engage with solicitors on their approved list. Why would a big named mortgage company only engage with specific law firms rather the firm that they want to select to handle their conveyancing in Oxford ?
Mortgage companies have always had an approved set of law firms that can act for them, but in recent years big names such as Yorkshire Building Society, have considered and reduced their conveyancing panel– in some cases removing conveyancing firms who have acted for them for more than 25 years.
Banks justify this action to a rise in fraud by way of justification for the pruning – criteria have been narrowed as a smaller panel is easier to maintain. Banks tend not to reveal how many solicitors have been dropped, claiming the information is commercially sensitive, but the Law Society claims that it is hearing daily from firms that have been removed from panels. Plenty of firms do not even realise they have been dropped until contacted by a borrower who has instructed them as might be the situation in your buyers' case. Your buyers are not going to have any sway in the decision.
I am refinancing my property in Oxford, does my lawyer need to be on the Aldermore Conveyancing panel?
In theory, you could use a solicitor that is not on the Aldermore conveyancing panel, but Aldermore would require one of their panel solicitors to be instructed to act in their interests, and you'd have to pay for this - so most people instruct a panel solicitor. It's also easier, as otherwise you'd have to deal with two solicitors for the same conveyancing matter.
We are close to exchanging contracts on the sale of our home in Oxford and according to the buyers it appears that there is a possibility that the property was built on contaminated land. Any local conveyancer would know this is not the case. For the life of me I don't know why the purchasers are using a nationwide conveyancing practice rather than a conveyancing solicitor in Oxford. We have lived in Oxford for six years we know that this is a non issue. Is it a good idea to contact our local Authority to get confirmation that there is no issue.
It sounds as though you may have a conveyancing lawyer currently acting for you. Are they able to advise? You should enquire of your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out health insurance to cover that same illness)
I am looking for a ground for flat up to £245,000 and identified one round the corner in Oxford I like with a park and transport links in the vicinity, the downside is that it's only got 51 years unexpired on the lease. I can't really find anything else in Oxford suitable, so just wondered if I would be making a mistake purchasing a short lease?
Should you require a mortgage the shortness of the lease will likely be a potential deal breaker. Reduce the offer by the amount the lease extension will cost if not already taken into account. If the current proprietor has owned the property for at least twenty four months you can ask them to commence the lease extension formalities and pass it to you. You can add 90 years to the existing lease term and have £0 ground rent by law. You should consult your conveyancing lawyer concerning this matter.
As co-executor for the will of my grandmother I am disposing of a residence in Newport but live in Oxford. My solicitor (who is 300 kilometers from merequires that I execute a statutory declaration ahead of completion. Can you recommend a conveyancing solicitor in Oxford who can witness this legal document for me?
Technically speaking you should not need to have the documents attested by a conveyancing solicitor. Ordinarily any notary public or solicitor will suffice regardless of whether they are Oxford based
I only have Seventy years unexpired on my lease in Oxford. I am keen to extend my lease but my landlord is can not be found. What options are available to me?
If you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for for permission to dispense with the service of the initial notice. This will enable the lease to be lengthened by the Court. However, you will be required to demonstrate that you or your lawyers have made all reasonable attempts to track down the lessor. For most situations an enquiry agent may be helpful to conduct investigations and prepare a report to be used as evidence that the freeholder can not be located. It is wise to seek advice from a conveyancer both on investigating the landlord’s disappearance and the vesting order request to the County Court overseeing Oxford.
Leasehold Conveyancing in Oxford - A selection of Queries Prior to buying
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For most Oxford leaseholds the cost for major works are not included within service charges, although there some managing agents in Oxford ask leaseholders to contribute towards a sinking fund and this is used to offset against larger repairs or maintenance. How long is the Lease? The majority of Oxford leasehold apartments will be liable to pay a service bill for the upkeep of the building set by the freeholder. If you purchase the property you will have to meet this liability, normally quarterly throughout the year. This can differ from several hundred pounds to thousands of pounds for buildings with lifts and large common areas. In all likelihood there will be a ground rent to be met annual, ordinarily this is not a exorbitant amount, say approximately £50-£100 but you need to enquire as occasionally it could be many hundreds of pounds.