I am getting a mortgage with Nat West. My intention is to instruct a Licensed Conveyancer in Four Oaks. Does the Nat West Conveyancing panel exclude Licensed Conveyancers?
The Nat West approved solicitor list is, like many other lenders, represented by the CML or BSA, open to Licensed Conveyancers regulated by the Council of Licensed Conveyancers.
Why do I have to pay up front for my conveyancing in Four Oaks?
Where you are retaining lawyers for conveyancing in Four Oaks your solicitor will request that you put them with funds to cover the search fees. This will be the total of the cost of the Local Authority Search. When the deposit is as part of the purchase price then this will be asked for shortly in advance of exchange of contracts. Any further balance that is needed will be payable shortly before completion.
A relative pointed out to me me that in buying a property in Four Oaks there may be various restrictions prohibiting external alterations to a property. Is this right?
We are aware of anumerous of properties in Four Oaks which have some sort of restriction or requirement of consent to perform external changes. Part of the conveyancing in Four Oaks should determine what restrictions are applicable and advising you as part of a ROT that should be sent to you.
I recently had an offer agreed on a house in Four Oaks. My mortgage broker suggested a lawyer. I paid an on account payment of £200. A few days later, the conveyancer contacted me to say that they were not on the Virgin Money 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 Virgin Money 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.
I had an offer accepted on a property in Four Oaks on 21/12/2018, valuation was booked 3 days after, received a clean bill of health. Solicitor instructed, so the only thing outstanding was my mortgage offer. Having made daily calls to Kent Reliance and chasing them on my offer, I have now been told that my offer will not be issued unless the lawyer is on the Kent Reliance conveyancing panel. Can the lender hold off the offer?
Mortgage companies tend not to not issue a mortgage until they have details of a lawyer on their panel. It can take a few weeks for Kent Reliance to deal with your lawyer's application to be on the Kent Reliance conveyancing panel. There's no guarantee that your solicitor will be accepted.
Are there restrictive covenants that are commonly picked up during conveyancing in Four Oaks?
Covenants that are restrictive in nature can be picked up when reviewing land registry title as part of the legal transfer of property in Four Oaks. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
I am looking for a flat up to £305k and identified one round the corner in Four Oaks I like with open areas and railway links in the vicinity, however it's only got 61 remaining years left on the lease. There is not much else in Four Oaks in this price bracket, so just wondered if I would be making a mistake acquiring a lease with such few years left?
Should you require a mortgage the remaining unexpired lease term may 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 owner has owned the premises for a minimum of 2 years you could ask them to start the process of the extension and then assign it to you. You can add 90 years to the current lease and have £0 ground rent by law. You should speak to your conveyancing lawyer regarding this.