It is not clear whether my mortgage offer obliges me to make sure the lease term for the flat is extended prior to the completion date. I have called into my local Dorchester building society branch on various occasions and was told it wasn't an issue and they would lend. My Dorchester conveyancing solicitor - who is on the lender conveyancing panel- telephoned and was told they will not lend in accordance with their specific requirements. Who do I believe?
The property lawyer has to follow the CML Handbook section two provisions for your lender. Unless your lawyer obtains specific confirmation in writing that the bank will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the bank to contact your lawyer in writing confirming that they will accept the number of years left on the lease.
I am due to exchange contracts on my flat. I had a double glazing fitted in August 2006, but did not receive a FENSA certificate or Building Regulation Certificate. My buyer's mortgage company, Yorkshire BS are being problematic. The Dorchester solicitor who is on the Yorkshire BS conveyancing panel is happy to accept ‘lack of building regulation’ insurance but Yorkshire BS are requiring a building regulation certificate. Why do Yorkshire BS have a conveyancing panel if they don't accept advice from them?
It is probably the case that Yorkshire BS have referred the matter to their valuer. The reason why Yorkshire BS may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing was correctly and safely installed. The indemnity insurance merely protects against enforcement action which is very unlikely anyway.
I was told two weeks ago that my mortgage has been agreed to by RBS. Is it usual for RBS to only issue the offer once my solicitor in Dorchester is approved on their conveyancing panel? RBS have asked my solicitor to see a copy of their PI Insurance.
Mortgage companies tend not to not issue a mortgage until they have details of a lawyer on their panel. It can take a few weeks for RBS to deal with your lawyer's application to be on the RBS conveyancing panel. There's no guarantee that your solicitor will be accepted.
I have been told that property searches are a common cause of obstruction in Dorchester conveyancing transactions. Is that correct?
The Council of Property Search Organisations (CoPSO) published findings of research by MoveWithUs that conveyancing searches do not feature within the common causes of delays during the legal transfer of property. Searches are unlikely to be the root cause of holding up conveyancing in Dorchester.
It has been 4 months since my purchase conveyancing in Dorchester took place. I have checked the Land Registry website which shows that I paid £175,000 when infact I paid £160,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the property from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
How does conveyancing in Dorchester differ for new build properties?
Most buyers of new build residence in Dorchester come to us having been asked by the housebuilder to sign contracts and commit to the purchase even before the residence is completed. This is because house builders in Dorchester typically acquire the land, 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 conveyancers 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 Dorchester or who has acted in the same development.
My business partner and I are intending to lease a unit on the high street. Can you recommend lawyers offering no-move-no charges for commercial conveyancing in Dorchester for under 2k?
We are happy to recommend firms who host a wealth of experience of commercial conveyancing in Dorchester, including the sale and purchase of businesses as well as simply premises. If you are intending to buy or sell a shop, pub, restaurant, office, retail unit or a whole business we can find you the right solicitor. Regarding the charges this will depend on the structure and terms of the deal. Let us have your details or telephone so as to enable us to provide you with a fixed commercial conveyancing calculation.
My partner and I intend to purchase our first home in Dorchester. Conveyancing practitioner already chosen. The broker pointed out that a survey is not necessary as the house was only built 16 yrs ago.
The bare minimum you need a Home Buyer's Report. As the property is more than ten years old the property will not benefit from a warranty, so you would be well advised not to take a risk. Where a property of this age shows no signs of defects a Home Buyer's report could be enough. The report should highlight any apparent problems and recommend additional investigation if relevant. If there are any signs of problems seek a comprehensive structural survey.