It is a dozen years since I purchased my house in Dorchester On Thames. Conveyancing lawyers have just been retained on the sale but I can't locate the deeds. Is this a problem?
Don’t worry too much. Firstly there is a chance that the deeds will be with your mortgage company or they could be in the possession of the conveyancers who oversaw the purchase. Secondly in most cases the property will be registered at the land registry and you will be able to establish that you own the property by your conveyancing lawyers procuring up to date copy of the land registers. Almost all conveyancing in Dorchester On Thames relates to registered property but in the rare situation where your property is unregistered it adds to the complexity but is resolvable.
My bank has suggested solicitors on their panel based in Dorchester On Thames but I would rather instruct a conveyancing lawyer in Dorchester On Thames or nearer to where I live. Can you assist?
Not all Dorchester On Thames conveyancing solicitors are listed all lender’s conveyancing panel. Do make the most of the above find an approved solicitor tool to choose a Dorchester On Thames conveyancing conveyancer on the on the mortgage company panel.
We previously selected conveyancing lawyers based in Dorchester On Thames on the Principality solicitor approved list. They are now charging me a separate fee for dealing with the Principality mortgage. Is this an additional conveyancing fee specified by Principality?
Unfortunately, as long as it is in their Terms of Engagement or estimate then yes your property lawyer can charge a fee for this. The fee is not dictated by Principality but by your Dorchester On Thames property lawyer. Plenty of firms on the Principality panel will charge ’dealing with mortgage’ fee and others do not.
My wife and I are in the throws of looking at apartments in Dorchester On Thames and I am about to put in an offer. Is it advisable to have my lawyer on ‘stand by’? I intend to finance via a home loan with HSBC.
It would be advisable to instigate your search sooner rather than later. After you have chosen your lawyer and once your offer is accepted you can instruct them to work for you and forward their details on to the estate agent. Given that you are taking out a mortgage with HSBC, ask your prospective lawyers if they are on the HSBC conveyancing panel otherwise they can't do the mortgage legal work.
My sealed bid on a semi in Dorchester On Thames has been agreed to, but there is a chain. The vendors have offered on somewhere, but it’s not yet tied up, and have viewings of other flats in the pipeline. I have selected a high street conveyancing solicitor in Dorchester On Thames. What should be my next step? When do I get the mortgage application with UBS started?
It is usual to have concerns where there is a chain as you are unlikely to want to be too out of pocket prematurely (home loan application is in the region of one thousand pounds, then survey, Dorchester On Thames conveyancing search fees, etc). First, you should ensure that your conveyancer is on the UBS conveyancing panel. Regarding the next steps this very much dictated by the specifics of your case, attraction to this property and on the state of the market. In a hot market some buyers will apply for a home loan with UBS and pay for the valuation and only if it comes back ok would they pay their lawyer to move forward with the conveyancing in Dorchester On Thames.
How does conveyancing in Dorchester On Thames differ for new build properties?
Most buyers of new build property in Dorchester On Thames approach us having been asked by the builder to sign contracts and commit to the purchase even before the residence is finished. This is because house builders in Dorchester On Thames tend to purchase 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 Dorchester On Thames or who has acted in the same development.
I have been on the look out for a flat up to £305k and identified one round the corner in Dorchester On Thames I like with open areas and station nearby, however it only has 61 years on the lease. There is not much else in Dorchester On Thames suitable, so just wondered if I would be making a grave error buying a short lease?
If you need a home loan the shortness of the lease will be problematic. Discount the price by the anticipated lease extension will cost if it has not already been discounted. If the existing owner has owned the property for at least twenty four months you may request that they start the process of the extension and pass it to you. An additional ninety years can be extended on to the current lease term and have £0 ground rent by law. You should speak to your conveyancing lawyer regarding this matter.
I am hoping to exchange soon on a ground floor flat in Dorchester On Thames. Conveyancing lawyers assured me that they report fully tomorrow. Are there areas in the report that I should be focusing on?
The report on title for your leasehold conveyancing in Dorchester On Thames should include some of the following:
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You must be informed what is to be regarded as a Nuisance as far as the lease is concerned Whether the lease restricts you from subletting the property, or having a home office for business Responsibility for maintaining the window frames The landlord’s rights to access the premises. You should be made aware that your landlord has rights of access as well as be informed how much notice must be provided. Ground rent - what is payable and when is collected, and also know whether this will change in the future
I am the registered owner of a leasehold flat in Dorchester On Thames, conveyancing formalities finalised 4 years ago. Can you give me give me an indication of the likely cost of a lease extension? Comparable flats in Dorchester On Thames with an extended lease are worth £180,000. The ground rent is £65 levied per year. The lease finishes on 21st October 2083
With just 58 years unexpired we estimate the price of your lease extension to span between £21,900 and £25,200 plus legals.
The suggested premium range above a general guide to costs for extending a lease, but we are not able to supply a more accurate figure without more detailed due diligence. You should not use this information in a Notice of Claim or as an informal offer. There are no doubt additional issues that need to be taken into account and clearly you should be as accurate as possible in your negotiations. Neither should you take any other action placing reliance on this information before seeking the advice of a professional.