Can you clarify what the consequences are if my solicitor is expelled from the Aldermore Conveyancing panel ahead of completing my conveyancing in Oxford?
The first thing to point out is that, this is very unlikely to happen. In most cases even where a law firm is removed off of a panel the lender would allow the completion to go ahead as the lender would appreciate the difficulties that they would place you in if you have to instruct a new solicitor days before completion. In a worst case scenario where the lender insists that you instruct a new firm then it is possible for a very good lawyer to expedite the conveyancing albeit that you may pay a significant premium for this. The analogous situation is where a buyer instructs a lawyer, exchanges contracts and the law firm is shut down by a regulator such as the SRA. Again, in this situation you can find lawyers who can troubleshoot their way to bring the conveyancing to a satisfactory conclusion - albeit at a cost.
Me and my partner are purchasing a house in Oxford. It might be a silly question but how we can trust a lawyer? On the day of competition we will need to send money into their account. What is the protection we have from them run away with our money?
Be assured that all money in a Solicitors client account is 100% safe, and even if your Solicitor ran off with it, the Law Society would reimburse you fully.
I am expecting a OIP from Nationwide this week so we know how much we could potentially offer as otherwise we are dependent on web based calculators (which aren't taking into account credit checks etc). Do Nationwide recommend any Oxford solicitors on the Nationwide conveyancing panel, or is it better to find our own lawyer?
You will need to appoint Oxford solicitors independently although you'll need to choose one on the Nationwide conveyancing panel. The solicitor represents both you and Nationwide through the process.
I was told two weeks ago that my mortgage has been agreed to by Leeds Building Society. Is it usual for Leeds Building Society to only issue the offer once my solicitor in Oxford is approved on their conveyancing panel? Leeds Building Society have asked my solicitor to see a copy of their Professional Indemnity Insurance Schedule.
A lender would not issue an offer until they have details of a lawyer on their panel. It can take a few weeks for Leeds Building Society to deal with your lawyer's application to be on the Leeds Building Society conveyancing panel. There's no guarantee that your solicitor will be accepted.
Will commercial conveyancing searches reveal proposed roadworks that could impact a commercial estate in Oxford?
Its becoming the norm that commercial conveyancing solicitors in Oxford will perform a SiteSolutions Highways report as it dramatically cuts the time that conveyancers expend in looking into accurate data on highways that impact buildings and development assets in Oxford. The report provides definitive information on the adoption status of roads, footpaths and verges, as well as the implication of traffic schemes and the rights of way surrounding a commercial development sites in Oxford.
For each commercial conveyancing transaction in Oxford it is critical to investigate the adoption status of roads surrounding a site. Failure to identify developments where adoption procedures have not been addressed adequately can result in delays to Oxford commercial conveyancing deals as well as present a risk to future plans for the site. These searches are not conducted for residential conveyancing in Oxford.
Are there restrictive covenants that are commonly identified as part of conveyancing in Oxford?
Restrictive covenants can be picked up when reviewing land registry title as part of the process of conveyancing in Oxford. 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…’
How does conveyancing in Oxford differ for new build properties?
Most buyers of new build or newly converted property in Oxford come to us having been asked by the housebuilder to exchange contracts and commit to the purchase even before the residence is constructed. This is because builders in Oxford typically buy 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 conveyancing solicitors 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 Oxford or who has acted in the same development.