My wife and I are intent on purchasing an apartment in Oakdale. My property lawyer has never been on on the bank solicitor list. Am I still permitted to continue with my Oakdale conveyancing solicitor even though they are excluded from the lender panel of approved conveyancing solicitors?
One will need to use a solicitor to complete the legal work required if you take out a loan to purchase your property. They will carry out all the relevant due diligence on the property, make sure that you’re properly registered as the owner and ensure that all the required mortgage paperwork is in place. One may appoint a Oakdale property lawyer of your choosing. Nevertheless, if the lawyer appointed is not a member of the mortgage company approved list supplemental fees will arise as separate legal representation will be required by them. Bank panel applications may be submitted, so where your lawyer has not previously applied for membership they should take the opportunity to apply.
Some advice if I may. My Oakdale lawyer is assuring me that he is legally obliged toconduct Oakdale conveyancing searches becausethe firm are on the Nat Westconveyancing panel. These Oakdale checks cost a lot of money can this be avoided?
Unfortunately both you and your lawyer have little choice here. As you are taking a mortgage with a bank your property lawyer has to comply with their conditions as set out in their version of the CML Conveyancing Handbook. Your conveyancer would have previously signed the Terms and Conditions of your lender’s conveyancing panel appointment which obliges them to comply with the Council of Mortgage Lenders’ Handbook specifications . Even if you were a cash buyer you would be ill advised not to carry out Oakdale conveyancing searches.
It is is a decade since I purchased my property in Oakdale. Conveyancing lawyers have now been retained on the sale but I can't track down my deeds. Will this cause complications?
You need not be too concerned. Firstly the deeds may be with your lender or they could still be with the lawyers who acted in your purchase. Secondly the likelihood is that the land will be registered at the land registry and you will be able to prove you own the property by your conveyancing lawyers procuring up to date copy of the land registers. Nearly all conveyancing in Oakdale relates to registered property but in the unlikely event that your property is unregistered it adds to the complexity but is resolvable.
Do I need to pop into the offices of the solicitor to sign the mortgage deed? If so, I will appoint a lawyer who conducts conveyancing in Oakdale so that I can pop in to their offices if required.
As opposed to 12 years ago, almost all lenders no longer oblige their conveyancing panel solicitor to witness the mortgagors signature. It will still be necessary for you to hand over ID documents and there are still manifest advantages to using a locally based practitioner, in your situation a conveyancing solicitor in Oakdale.
I own a terraced Edwardian property in Oakdale. Conveyancing practitioner represented me and Alliance & Leicester . I did a free Land Registry search last week and there are a couple of entries: the first freehold, another for leasehold under the exact same address. I thought I was buying a freehold how can I check?
You should review the Freehold register you have again and check the Charges Register as there may be 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 Oakdale and other areas of the country and poses no real issues for owners other than when they mortgage they have to account for both freehold and leasehold interests when dealing with buyers. You can also question the position with your conveyancing practitioner who completed the work.