Me and my partner are purchasing a 2 bedroom apartment in Oxted with a mortgage. We would like to retain our Oxted solicitor, but the bank advise he's not on their "panel". It seems we have little choice but to appoint one of the mortgage company panel firms or continue with our Oxted property lawyer and pay for one of their panel firms to act for them. We consider that this is inequitable; are we not able to require that the mortgage company use our Oxted property lawyer ?
No, not really. The mortgage offered to you is subject to its terms and conditions, one of which will be that lawyers will on the bank’s conveyancing panel. Until recently, most lenders had large numbers of law firms on their panels: a borrower could choose one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. Another option that might be available is for your Oxted conveyancing solicitor to apply to be on the conveyancing panel.
Our Oxted conveyancer has identified an inconsistency between the information in the valuation report and what is revealed within the legal papers for the property. My solicitor says that he is duty bound to ensure that the bank is happy with this discrepancy and is content to go ahead. Is my solicitor’s course or action correct?
Your property lawyer must comply with the UK Finance Lenders’ Handbook conditions which do require that your lawyer disclose any incorrect assumptions in the lender’s valuation report and the legal papers. Should you refuse to allow your lawyer to make the appropriate notification then your lawyer will have no choice but to discontinue acting for you.
My wife and I have a semi-detached Georgian property in Oxted. Conveyancing practitioner represented me and Leeds Building Society. I did a free Land Registry search last week and there are two entries: the first freehold, another for leasehold under the exact same address. I'd like to know for sure, how can I find out??
You need to read 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 owner of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Oxted and other areas of the country and poses no real issues for owners other than when they buy they have to account for both freehold and leasehold interests when dealing with lenders. You can also check the situation with the conveyancing lawyer who conducted the work.
I am buying a new build flat in Oxted. Conveyancing is daunting 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 legal work.
Set out below is a sample of a selection of leasehold new build questions that you should expect your new-build leasehold conveyancing in Oxted
The Vendor must covenant to keep unsold units in good repair until long leases are granted therefore. Will control of the Management Company (if any) be handed over to purchasers on completion of the last sale or earlier? There must be mutual enforceability of lessee’s covenants. Where there is an Undertaking being granted there is the risk of forfeiture of the Headlease subject to relief if one or more of the Underlessees are willing to accept the original Head Lessee’s obligations as otherwise relief will be denied to the Underlessees. The only alternatives are the Head Lessor agreeing not to forfeit the Headlease or the Head Lessee guaranteeing to the Underlessees that it will not be in breach of the Headlease. Please supply a car parking plan.
What are the specific benefits to using a high street conveyancing practitioner in Oxted
Home movers in Oxted select a local conveyancer so that they can visit just in case they have questions, and to collect paperwork without using the Royal Mail.
There is a slight edge when using a conveyancing practitioner nearby to a premises you are purchasing, due to the familiarity of the area and possible local concerns - yet this is debatable. Many conveyancers are now online and may be anywhere in the world.