I am not well enough to travel far from Dorset. Is there a reason why all Dorset solicitors aren't included on all bank panels?
Lenders ordinarily impose restrictions on either the type or the number of conveyancing solicitors on their panel. Frequent examples of such criteria being that a firm needs to have two or more partners. In addition to restricting the type of firm, some have made a decision to reduce the number of firms they allow to represent them. It is worth noting that lenders have no liability for the quality of service provided by any Dorset lawyer on their approved list. Property fraud was the main trigger for the reduction of conveyancing panels a few years ago notwithstanding that there are contrary opinions concerning the extent of solicitor involvement in some of that fraud. Data from HMLR indicates that thousands of conveyancing firms only carry out one or two conveyances annually. Those vindicating conveyancing panel consolidation ask why law firms should have claim to be on a conveyancing panel when it is apparent that conveyancing is not their speciality?
I purchased a freehold property in Dorset but still pay rent, why is this and what is this?
It is rare for properties in Dorset and has limited impact for conveyancing in Dorset but some freehold properties in England (particularly common in North West England) pay an annual sum known as a Chief Rent or a Rentcharge to a third party who has no other legal interest in the land.
Rentcharge payments are usually between £2.00 and £5.00 per year. Rentcharges have existed for many centuries, but the Rent Charge Act 1977 barred the creation of new rentcharges post 1977.
Previous rentcharges can now be extinguished by making a one off payment under the Act. Any rentcharges that are still in existence in 2037 will be dispensed with completely.
I have been told that property searches are the primary cause of hinderance in Dorset house deals. Is this right?
The Council of Property Search Organisations (CoPSO) has noted the determinations of research by MoveWithUs that conveyancing searches do not feature within the most frequent causes of delays during the legal transfer of property. Searches are not likely to feature in any slowing down conveyancing in Dorset.
I bought my home on 3 June and my personal details is yet to be on the land registry website. Should I be concerned? My conveyancing solicitor in Dorset expressed confidence that it will be registered inside ten days. Are properties in Dorset uniquely lengthy to register?
There is nothing unique about conveyancing in Dorset registration formalities. As opposed to being determined by geographic area, timescales can vary according to who lodges the application, whether it is in order and if the Land registry communicate with any interested persons or bodies. As of today roughly 80% of submission are completed in less than three weeks but some can be subject to protracted delays. Historically registration takes place after the purchaser is living at the property therefore an expedited registration is not typically primary concern yet where there is a degree of urgency associated with the registration then you or your lawyers should communicate with the Registry to express the reasoning for the application to be prioritised.
I opted to have a survey completed on a house in Dorset before appointing lawyers. I have been informed that there is a flying freehold element to the house. My surveyor has said that some mortgage companies will not issue a mortgage on this type of premises.
It depends who your proposed lender is. HSBC has different requirements from Nationwide. If you call us we can check with the appropriate mortgage company. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Dorset. Conveyancing may be slightly more expensive based on your lender's requirements.
There are only 72 years unexpired on my flat in Dorset. I now wish to get lease extension but my landlord is can not be found. What should I do?
On the basis that you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application to the County Court for for permission to dispense with the service of the initial notice. This will enable the lease to be extended by the Court. You will be obliged to prove that you have done all that could be expected to track down the lessor. For most situations a specialist would be helpful to conduct investigations and to produce a report to be used as proof that the landlord is indeed missing. It is wise to seek advice from a property lawyer in relation to proving the landlord’s disappearance and the vesting order request to the County Court covering Dorset.
I am the registered owner of a ground floor flat in Dorset, conveyancing formalities finalised 8 years ago. Can you let me have an estimated range of the fair premium for a lease extension? Corresponding flats in Dorset with over 90 years remaining are worth £171,000. The average or mid-range amount of ground rent is £50 yearly. The lease ends on 21st October 2105
With just 79 years left to run we estimate the price of your lease extension to be between £8,600 and £9,800 as well as legals.
The figure that we have given is a general guide to costs for renewing a lease, but we cannot give you a more accurate figure in the absence of comprehensive due diligence. You should not use the figures in a Notice of Claim or as an informal offer. There may be other concerns that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. You should not take any other action placing reliance on this information before seeking the advice of a professional.