My wife and I are looking to acquire a house in Oakdale and have appointed a Oakdale conveyancing firm. Within the past 48 hours our conveyancer has sent a preliminary report and documents to look through in anticipation of exchanging contracts shortly. Virgin Money have this morning contacted us to inform me that there is now an issue as our Oakdale solicitor is not on their conveyancing panel. What do we do from here?
Where you are buying a property with the assistance of a mortgage it is conventional for the purchasers' solicitors to also represent the mortgage company. In order to act for a bank or building society a law firm has to be on that lender's conveyancing panel. An application has to be made by the law firm to the lender to become a member of the lender's panel and there are increasingly strict criteria which the firm has to satisfy and indeed some lenders now require their panel members to be part of the Law Society’s Conveyancing Accreditation Scheme. Your solicitor should contact your lender and see if they can apply for membership of their conveyancing panel, but if that is not viable they will instruct their own lawyers to represent them. You are not legally obliged to appoint a law firm on the lender’s conveyancing panel and you may continue to use your own Oakdale solicitors, in which case your legal fees may increase, and it will likely delay the transaction as you have another set of people involved.
Would the conveyancing practitioners highlighted through your ’find a lawyer’ tool handle right to buy conveyancing in Oakdale?
We do have numerous conveyancing firms carrying out right to buy transactions Do contact us to obtain a conveyancing quote.
My colleague suggested that if I am buying in Oakdale I should ask my conveyancer to perform a Neighbourhood, Planning and Local Amenity Search. Can you explain what the purpose of this search is?
This is a search is occasionally quoted for as part of the standard Oakdale conveyancing searches. It is not a small report of more than thirty pages, listing and setting out important information about Oakdale around the property and the people living there. It includes an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the local Housing Market, Council Tax Banding, the demographics of People living in the area, the dominant type of Housing, the Average Property Price, Crime details, Local Education with maps and statistics, Local Amenities and other useful data about Oakdale.
About to purchase a new build flat in Oakdale. Conveyancing is a frightening process at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build conveyancing.
Here are examples of a selection of leasehold new build enquiries that you may expect your new-build leasehold conveyancing in Oakdale
There must be mutual enforceability of lessee’s covenants. Will the freehold then be transferred for a nominal consideration (not exceeding £100) to the Management Company? The Vendor must covenant to keep unsold units in good repair until long leases are granted therefore. The Landlord must covenant to assume the management if the Management Company goes into liquidation or otherwise defaults in running the management scheme. Forfeiture - bankruptcy or liquidation must not apply under this provision.
My offer on semi in Oakdale was accepted, the seller does nevertheless have a dependent purchase. The sellers have submitted an offer on a property, however it’s not yet tied up, and has viewings of other apartments booked. I have instructed a nearby conveyancing lawyer in Oakdale. What do I do now? When should I get the mortgage application with Nottingham going with Nottingham?
It is understandable to have concerns where there is an associated chain given your reluctance to be too out of pocket prematurely (home loan application is in the region of £1k, then survey, Oakdale conveyancing search charges, etc). The first thing to do is check that your conveyancing practitioner is on the Nottingham approved list. Concerning the next stages this very much dictated by the circumstances of your case, desire for this property and on the state of the market. In a rising market many purchasers will apply for the mortgage with Nottingham and pay for the survey and only if it comes back ok would they request their solicitor to proceed with searches.