We are purchasing a purpose built flat in Cowley with a residential mortgage from Britannia.We have a Cowley conveyancing practitioner but Britannia informed us she’s not listed on their approved list of member firms. It seems we are left with little choice but to instruct a Britannia panel firm or retain our local solicitor and pay for one of their panel ones to act for them. We feel as though this is unjust; is there anything we can do?
No, not really. The mortgage issued to you contains terms and conditions, one of which will be that conveyancers must be on the Britannia approved list. Until recently, most banks had large numbers of law firms on their panels: a borrower could choose 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 Britannia
What is the difference between a licensed conveyancer and conveyancing solicitor in Cowley
There are many registered licenced Conveyancers in Cowley and Solicitor partnerships in Cowley who can assist with your conveyancing We would stress that both are regulated professionals specialising in the legal work in the home buying process. The two can conduct associated property related work such as remortgage conveyancing, enfranchisement and transfer of equity conveyancing.
I have been told by my conveyancer that lack of planning permission insurance is required on my purchase. What is the typical level of cover needed for conveyancing in Cowley?
The appropriate level of lack of planning permission indemnity insurance depends on your lender. It would differ for example between Lloyds TSB Bank and Norwich and Peterborough Building Society. Conveyancing solicitors as opposed to members of the public take out such insurances.
I have decided to exercise my right to buy my property in Cowley off the council. I have a mortgage agreed with Virgin Money. Conveyancing is not something I have any knowledge of. Can I proceed without a solicitor easily? I think we can but we keep being told I should use one. Any advice?
It is not advisable to proceed with a house purchase without a solicitor. The council's solicitor are not acting for you. You need a solicitor for a number reasons. One of which is to verify what plans the Council have for repairs and refurbishment for the next five years. Many leaseholders have been stung for contributions of thousands of pounds. In any event, if you are getting a mortgage with Virgin Money, you will need to appoint a solicitor on the Virgin Money conveyancing panel.
What will a local search inform me concerning the house we're buying in Cowley?
Cowley conveyancing often commences with the applying for local authority searches directly from your local Authority or through a personal search company for example Searches UK The local search plays a central part in most Cowley conveyancing purchase; that is if you wish to avoid any nasty once you have moved into your property. The search will supply information 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.
How does conveyancing in Cowley differ for new build properties?
Most buyers of new build or newly converted property in Cowley contact us having been asked by the housebuilder to sign contracts and commit to the purchase even before the premises is finished. This is because builders in Cowley tend to acquire the site, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are accustomed to new build conveyancing in Cowley or who has acted in the same development.
Why can't I complete my conveyancing in Cowley on May bank holiday?
Because on completion the money needs to pass between the banks of the buyer and seller's property lawyer and currently this can only occur on a business day. So you can't complete on a weekend either.