I was notified today by my mortgage broker that my Dorridge lawyer is not on the bank Solicitor panel. What can I do to check?
You need to call your Dorridge conveyancer. You lawyer should notify you what has happened. If they are not on the panel they may be able to suggest a Dorridge conveyancing firm that is on the approved list of lawyers for your bank.
Is it necessary during the course of the conveyancing process to pop into the offices of the solicitor to sign the mortgage deed? If so, I will choose one who does conveyancing in Dorridge so that I can attend their offices if necessary.
Whereas this was necessary twenty years ago, most lenders no longer oblige their conveyancing panel solicitor to witness the borrowers signature. It will still be necessary for you to hand over identification documents and there are still manifest advantages to using a locally based practitioner, in your case a conveyancing solicitor in Dorridge.
I'm purchasing my first flat in Dorridge with a mortgage from The Mortgage Works. The developers refused to budge the amount so I negotiated 6k of extras instead. The house builders rep suggested that I not inform my solicitor about the extras as it would impact my mortgage with the lender. Is this normal?.
All lenders require a Disclosure of Incentives Form from the developer of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
I have been on the look out for a ground for flat up to £245,000 and found one round the corner in Dorridge I like with a park and transport links nearby, the downside is that it only has 52 remaining years left on the lease. There is not much else in Dorridge for this price, so just wondered if I would be making a grave error acquiring a short lease?
If you need a mortgage the remaining unexpired lease term will be an issue. Discount the price by the anticipated lease extension will cost if not already taken into account. If the existing owner has owned the premises for a minimum of twenty four months you may ask them to commence the lease extension formalities and then assign it to you. You can add 90 years to the existing lease and have £0 ground rent by law. You should consult your conveyancing solicitor about this.
We are 3 weeks into a leasehold purchase having been referred to solicitors by the high street agent to perform conveyancing in Dorridge. I am not happy. Can you you assist me in finding new lawyers?
A solicitor would have to be really poor in order to consider diss instructing them. Has your mortgage been issued? If so you need to advise them of the new contact details and get the loan are re-sent. Your new solicitor ideally needs to be on the banks panel to avoid supplemental fees and complications. So that should be your starting point. Our search tool can assist you in finding a bank approved conveyancer for your home move in Dorridge
I am on look out for some leasehold conveyancing in Dorridge. Before diving in I would like to find out the unexpired term of the lease.
If the lease is recorded at the land registry - and almost all are in Dorridge - then the leasehold title will always include the basic details of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title. For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.
Dorridge Conveyancing for Leasehold Flats - Examples of Queries Prior to buying
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Are there any major works on the horizon that will likely increase the service charges? How many years remain on the lease?