My solicitor has identified a a problem with the lease for the property we are purchasing in Oxshott. The seller’s lawyers have offered title insurance as a solution. We are happy with insurance and will pay for it. Our property lawyer says that he must be satisfied that the bank is content with this solution. Who is the client here, us or the bank?
Even though you have a mortgage offer from the lender does not mean to say that the property will meet their requirements for the purposes of a mortgage. Your lawyer has to ensure that the lease has to comply with the UK Finance Lenders’ Handbook specifications. You and the bank are the client. The appropriate lender specifications have to be complied with.
Do the Building Society Association intend to launch a searchable register to list solicitors on the Coventry BS conveyancing panel for instance in Oxshott?
We would not expect to be advised of any intention on the part of the BSA to promote such a register.
Are there restrictive covenants that are commonly picked up as part of conveyancing in Oxshott?
Covenants that are restrictive in nature can be picked up when reviewing land registry title as part of the process of conveyancing in Oxshott. 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…’
Should I be wary by brokers that I am dealing with are recommending a web based conveyancing firm as opposed to a High Street Oxshott conveyancing firm?
As is the case with lots of professional services, often suggestions from family and friends can be very helpful. But there are numerous players in a conveyancing transaction; estate agents, financial adviser and lenders may suggest conveyancers to use. Sometimes the lawyers might be known to one of the organisations as being good in their field, but occasionally there might be a financial incentive behind the recommendation. You have the discretion to choose your own lawyer. You need to be aware that some mortgage providers specify a panel list of conveyancers you must use for the mortgage aspect of your conveyancing.
We are seeking to acquire a repossessed flat in Oxshott and the bank selling would like to complete within a month. Can a conveyancing practitioner complete in this timeframe? Am I best advised to use a local Oxshott firm or an online organisation that professes to offer speedy conveyancing?
Attend your Oxshott shopping parade. Go in to two or three solicitor’s offices and ask to see a conveyancing solicitor for a quote. Set out your needs and seek assurances on time frames. Select the firm that seems most efficient. You need to use a lawyer on the panel of solicitors approved by your lender.