I am nearing exchange of contracts for my apartment in Oakley and the estate agent has just called to advise that the purchasers are switching solicitor. The excuse is that the bank will only deal with property lawyers on their conveyancing panel. Why would a leading lender only engage with certain solicitors rather the firm that they want to choose for their conveyancing in Oakley ?
Mortgage companies have always had an approved set of law firms that can represent them, but in the last few years big names such as Lloyds Banking Group, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have worked with them for over 25 years.
Lenders point to the increase in fraud by way of justification for the cull – criteria have been stiffened as a smaller panel is easier to keep an eye on. No lender will say how many solicitors have been dropped, claiming the information is commercially sensitive, but the Law Society says it is hearing daily from firms that have been removed from panels. Plenty of firms do not even realise they have been dropped until contacted by a borrower who has instructed them as might be the situation in your buyers' case. The purchasers are unlikely to have any sway in the decision.
What can a local search tell me about the property we're buying in Oakley?
Oakley conveyancing often commences with the submitting local authority searches directly from your local Authority or through a personal search company such as Searches UK The local search plays an important part in most Oakley conveyancing purchase; as long as you don’t want any unpleasant once you have moved into your property. The search should supply data on, amongst other things, details on planning applications applicable to the property (whether granted or refused), building control history, any enforcement action, restrictions on permitted development, nearby road schemes, contaminated land and radon gas; in all a total of thirteen topic areas.
How does conveyancing in Oakley differ for new build properties?
Most buyers of new build or newly converted property in Oakley contact us having been asked by the builder to exchange contracts and commit to the purchase even before the property is built. This is because builders in Oakley typically acquire the real estate, 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 used to new build conveyancing in Oakley or who has acted in the same development.
Given that I am about to spend 450k on a terraced house in Oakley I wish to talk to a solicitor about myhome move prior to appointing the firm. Can this be arranged?
We could not agree more - it is our preference to talk to you we do not take any clients on without you first talking to the lawyer due to be carrying out your property ownership legalities in Oakley.There is no ‘factory style conveyancing’ - every client is an important person, not a file reference. The solicitors that we put you in touch with believe that the figure you are quoted for residential conveyancing in Oakley should be the amount on the final invoice that you are charged.
In surfing the web for the phrase cheap conveyancing in Oakley it shows results of many property lawyerslocally. How do I determine which is the suitable property lawyer for purchase transaction?
The ideal way of finding the right conveyancer is via trusted referral, so seek the guidance of friends and relatives who have bought a property in Oakley or the local estate agent or mortgage broker. Charges for conveyancing in Oakley vary, so it's sensible to request at least four estimates from different conveyancers. Make sure that you know what costs in the quote includes.