I am buying a ground floor flat in Dorset. My property lawyer is not on the mortgage company conveyancing panel. Am I still permitted to continue with my Dorset conveyancing solicitor even though they are excluded from the mortgage company panel of approved conveyancing solicitors?
One must instruct a conveyancing practitioner to complete the legal work required if you require a mortgage to purchase your home. They will carry out all the necessary legal checks on the property, make sure that you will be properly registered as the owner and ensure that all the required mortgage paperwork is in place. One may appoint a Dorset property lawyer of your choosing. Nevertheless, if the conveyancing practitioner appointed is not a member of the mortgage company approved list further charges will be incurred as separate legal representation will be required by them. Conveyancing panel applications can be submitted, so provided your conveyancer has not historically sought membership they should take the chance to apply.
Can your site be used to locate a Conveyancing solicitor in Dorset even where I’m not buying or selling a house, for example where I want to acquire a shop in Dorset with a mortgage from Leeds Building Society?
Our search tool is primarily there to help choose residential conveyancing solicitors in Dorset but we have listed at the bottom of this page a selection of Dorset commercial conveyancing firms. You will need to enquire with the firm directly to establish if they are also authorised to represent Leeds Building Society
We are expecting a mortgage offer soon. The bank mentioned the home loan came with free conveyancing. Is the implication that I have to instruct their panel solicitor as I would much rather appoint a specialised conveyancing solicitor in Dorset?
Do check but the chances are that appoint one of their panel solicitors where you want the "fee-free" offer. Contact the lender to see if they offer you a cash alternative. It is not unheard for a lender to give a £250 cashback as a further option in which case you could put that amount towards the cost for your conveyancing solicitor near Dorset.
How does conveyancing in Dorset differ for newly converted properties?
Most buyers of new build premises in Dorset approach us having been asked by the seller to exchange contracts and commit to the purchase even before the house is ready to move into. This is because builders in Dorset usually acquire the site, 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 Dorset or who has acted in the same development.
I opted to have a survey carried out on a property in Dorset before appointing conveyancers. I have been told that there is a flying freehold element to the house. Our surveyor advised that some banks tend refuse to issue a mortgage on a flying freehold property.
It depends who your proposed lender is. Lloyds has different requirements from Halifax. If you e-mail us we can look into this further with the appropriate lender. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Dorset. Conveyancing may be slightly more expensive based on your lender's requirements.
I am intending to sublet my leasehold apartment in Dorset. Conveyancing solicitor who did the purchase is retired - so can't ask him. Is permission from the freeholder required?
A lease governs the relationship between the landlord and you the leaseholder; specifically, it will set out if subletting is not allowed, or permitted but only subject to certain caveats. The accepted inference is that if the lease contains no specific ban or restriction, subletting is permitted. The majority of leases in Dorset do not contain strict prohibition on subletting – such a provision would adversely affect the market value the property. Instead, there is usually a basic requirement that the owner notifies the freeholder, possibly sending a copy of the tenancy agreement.
I purchased a basement flat in Dorset, conveyancing formalities finalised in 2012. Can you please calculate a probable premium for a statutory lease extension? Corresponding properties in Dorset with an extended lease are worth £186,000. The ground rent is £55 invoiced annually. The lease comes to an end on 21st October 2078
With 52 years left to run we estimate the premium for your lease extension to span between £29,500 and £34,000 as well as 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 a more accurate figure without more comprehensive due diligence. You should not use the figures in a Notice of Claim or as an informal offer. There may be additional concerns that need to be taken into account and you obviously want to 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.