My previous conveyancer has sent a quote for £1400 for freehold conveyancing in Dorchester. I’m selling a modern property for £125,000. This appears expensive. Is it above what I should be paying for conveyancing in Dorchester?
The estimate does seem a tad steep. If you shop around you might trim some of the cost by as much as £125. On the other hand, you maycome to rue opting for an a cheaper lawyer. If is important to check the solicitor can represent your bank. You can employ our search tool to get a quote a Dorchester conveyancing firm on the lender’s member panel which can often include conveyancing solicitors in Dorchester.
I am purchasing a newly constructed apartment in Dorchester and my conveyancer is advising me that she has to the bank to disclose incentives from the developer. I am nearing the developer’s deadline to exchange contracts and my preference is not to prolong matters. is my lawyer playing by the book?
You should not exchange unless you have been advised to do so by your solicitor. A precondition to being on a lender panel is to comply with the UK Finance Lenders’ Handbook conditions. The CML Conveyancing Handbook requires that your lawyer have the appropriate Disclosure of Incentive form completed by the developer and accepted by your lender.
I am purchasing a 4 bedroom semi-detached house in Dorchester. We would like to convert the garage to a playroom at the property.Will legal conveyancing on the property include checks to determine if these works are prohibited?
Your solicitor will check the registered title as conveyancing in Dorchester will on occasion reveal restrictions in the title deeds which restrict categories of alterations or necessitated the consent of a 3rd party. Many additions need local authority planning consent and approval in compliance with building regulations. Certain areas are designated conservation areas and special planning restrictions apply which frequently prevent or impact extensions. You should check these things with a surveyor ahead of any purchase.
I happen to be the only recipient of my late mum's will with all property in now in my sole name, including the my former home in Dorchester. Conveyancing formalities meant that the Land Registry date was in May. I plan to dispose of the house. I understand that there is a CML 6 month 'rule', which means that my property ownership could be treated the same way as though I had purchased the house in May. Is the property unsalable for six months?
The Council of Mortgage Lenders’ handbook mandates solicitors to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." Technically you could be affected by that. Some banks would take a sensible view as this clause chiefly exists to pick up on the purchase and immediately sell or the flipping of property.
I currently have a mortgage with HSBC for my property in Dorchester. Conveyancing has been completed some time ago. In the event that I decide to rent out the flat and do not currently have a buy-to-let mortgage do I need to remortgage to a buy-to-let mortgage or inform HSBC?
HSBC must be informed of your intention before renting your property as this is likely to be a breach of HSBC’s mortgage conditions. In many cases banks or building societies will permit you to let out your former home without needing to switch to a buy-to-let mortgage but some lenders will add a surcharge to your mortgage rate to reflect the higher risk. You should contact HSBC directly. It should not be necessary to do this via a HSBC conveyancing panel firm.
I've recently found out that there is a flying freehold issue on a house I put an offer in last month in what was supposed to be a simple, chain free conveyancing. Dorchester is where the house is located. Can you shed any light on this issue?
Flying freeholds in Dorchester are not the norm but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Dorchester you would need to get your solicitor to go through the deeds very carefully. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Dorchester may determine that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold property.
I am employed by a long established estate agency in Dorchester where we see a few flat sales derailed as a result of short leases. I have received conflicting advice from local Dorchester conveyancing firms. Please can you shed some light as to whether the vendor of a flat can instigate the lease extension process for the buyer?
Provided that the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to kick-start the lease extension process and assign the benefit of the notice to the purchaser. This means that the buyer can avoid having to sit tight for 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed prior to, or at the same time as completion of the disposal of the property.
Alternatively, it may be possible to agree the lease extension with the freeholder either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the purchaser.
I own a 1 bedroom flat in Dorchester, conveyancing formalities finalised half a dozen years ago. Can you let me have an estimate of the premium that my landlord can legally expect in return for granting a renewal of my lease? Similar flats in Dorchester with an extended lease are worth £206,000. The ground rent is £45 charged once a year. The lease comes to an end on 21st October 2091
With just 66 years left to run we estimate the premium for your lease extension to be between £12,400 and £14,200 plus plus your own and the landlord's "reasonable" professional fees.
The suggested premium range that we have given is a general guide to costs for renewing a lease, but we cannot give you the actual costs without more detailed investigations. Do not use the figures in a Notice of Claim or as an informal offer. There may be other concerns that need to be considered and clearly you want to be as accurate as possible in your negotiations. Neither should you move forward based on this information without first getting professional advice.
I've found a house that appears to tick a lot of boxes, at a reasonable figure which is making it more attractive. I have subsequently discovered that it's a leasehold rather than freehold. I would have thought that there are particular concerns purchasing a house with a leasehold title in Dorchester. Conveyancing solicitors have are soon to be instructed. Will they explain the issues?
Most houses in Dorchester are freehold rather than leasehold. In this scenario it’s worth having a local solicitor who is familiar with the area can help the conveyancing process. it is apparent that you are buying in Dorchester so you should seriously consider shopping around for a Dorchester conveyancing practitioner and be sure that they have experience in advising on leasehold houses. As a matter of priority you will need to check the number of years remaining. As a lessee you will not be entirely free to do whatever you want to the property. The lease will likely included provisions such as requiring the freeholder’spermission to carry out alterations. It may be necessary to pay a service charge towards the upkeep of the estate where the house is located on an estate. Your conveyancer will advise you fully on all the issues.