We wish to acquire a newly converted flat in Oxford with a mortgage from Yorkshire Building Society.We like our Oxford conveyancing practitioner but Yorkshire Building Society informed us she’s not on their "panel". we are left little option but to use a Yorkshire Building Society panel lawyer or retain our preferred solicitor and fork out for one of their panel ones to represent them. This seems very unfair; Can we not simply insist that Yorkshire Building Society use our lawyer?
Unfortunately,no. The loan issued to you is subject to its various provisions, one of which will be that solicitors must be on the Yorkshire Building Society approved list. Until recently, most lenders had large numbers of solicitors on their panels: a borrower could find 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 lawyer to apply to be on the conveyancing panel for Yorkshire Building Society
Can I be sure that the Oxford conveyancing solicitor on the UBS panel is any good?
When it comes to conveyancing in Oxford obtaining recommendations is a sensible start. Before you go ahead, check if they offer a no sale no fee offer. Also, you often get what you pay for - a firm which quotes more, will often provide a better service than one advertising the lowest fees. We would always recommend that you speak with the lawyer handling your conveyancing.
I have a mortgage with Aldermore for my property in Oxford. Conveyancing was finalised 12 months ago. Should I wish to rent out the flat and do not currently have a buy-to-let mortgage do I need to remortgage to a buy-to-let mortgage or inform Aldermore?
You must advise Aldermore prior to letting out your property as this is likely to be a breach of Aldermore’s mortgage conditions. In many cases banks or building societies will allow you to rent out your former home without needing to switch to a buy-to-let mortgage but some lenders will add a surcharge to your mortgage rate to reflect the higher risk. You should contact Aldermore directly. You need not do this via a Aldermore conveyancing panel firm.
Lloyds have agreed my home loan in principle, my offer on a property in Oxford has been accepted, what happens next?
Your property agent will need to know who your solicitors are (be sure the conveyancers are on the bank’s panel). Call up Lloyds or the broker and finish off any outstanding forms. Lloyds will instruct a valuer who will get in contact with the estate agent or owners to schedule an appointment. Once carried out (assuming no problems) it takes approximately ten days for the mortgage offer to be issued. Lloyds will issue the offer to you and your property lawyers. The legal work will then take it’s course according the nature and complexity of the conveyancing in Oxford.
I need some expedited conveyancing in Oxford as I have an ultimatum to exchange contracts inside one month. Thankfully I do not require a mortgage. Is it possible to escape the need for conveyancing searches to save money and time?
As you are not taking a home loan you are at liberty not to do searches although no solicitor would suggest that you don't. Drawing on our experience of conveyancing in Oxford the following are instances of issues that can crop up and adversely affect market value: Enforcement Actions, Outstanding Fees, Outstanding Grants, Road Schemes,...
Me and my brother purchased a terraced Victorian house in Oxford. Conveyancing lawyer acted for me and Bank of Scotland. I did a free Land Registry search last week and there are a couple of entries: the first freehold, the second leasehold with the matching address. If a house is not a freehold shouldn't I have been informed?
You need to review the Freehold register you have again and check the Charges Register for mention of a lease. The best way to be sure that you are also the registered proprietor of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Oxford and other areas of the country and poses no real issues for owners other than when they remortgage they have to account for both freehold and leasehold interests when dealing with purchasers. You can also question the position with your conveyancing practitioner who carried out the work.
Is there anything unique about your site and alternative web based conveyancing brokers for conveyancing in Oxford?
At this site receive an accurate costs illustration via a Solicitor or Licensed Conveyancer that has a full understanding of the issues of your conveyancing in Oxford. Unlike many estate agents and many comparison sites we are not in the business of charging firms a commission if you instruct them for your conveyancing in Oxford
Should I choose a Oxford conveyancing lawyer in close proximity to the house I am buying? An old friend can deal with the conveyancing but her office is approximately 350miles drive away.
The benefit of a local Oxford conveyancing practice is that you can visit the firm to execute documents, deliver your ID and pester them if necessary. Having local Oxford know how is a benefit. However nothing is more important than finding someone that will pull out all the stops for you. If you know people who used your friend and in the main were impressed that must trump using an unknown Oxford conveyancing lawyer just because they are Oxford based.