Unfortunately I am unable to travel far from Dorset. What is the rationale as to why all Dorset conveyancers aren't included on all mortgage company panels?
Lenders highlight the fact that solicitor-led fraud is considered to be responsible for millions of pounds of fraud every year.The elimination of law firms from lender panels started with the rise in mortgage fraud, which prompted a thematic review by the FSA in 2011. Its conclusions included recommendations for lending institutions to review their conveyancing panels, which kicked off a major policy change in the sector. It led to banks and building societies removing a number of firms from their books of approved property lawyers .
I purchased a freehold house in Dorset yet invoiced for rent, why is this and what is this?
It’s unusual 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 date back hundreds of years, but the Rent Charge Act 1977 barred the creation of new rentcharges from 1977 onwards.
Previous rentcharges can now be extinguished by making a one off payment under the Act. Any rentcharges that are still in existence post 2037 is to be dispensed with completely.
Various web forums that I have visited warn that are the main cause of hinderance in Dorset conveyancing transactions. Is there any truth in this?
The Council of Property Search Organisations (CoPSO) published conclusions of a review by MoveWithUs that conveyancing searches do not figure amongst the common causes of delays during the legal transfer of property. Searches are not likely to feature in any holding up conveyancing in Dorset.
Just bought a detached house in Dorset , how long will it take for the Land Registry to record the transfer to my name? My Dorset conveyancing solicitor has been painfully slow, so I want to check the post completion formalities are dealt with.
As far as conveyancing in Dorset is concerned, registration is no faster or slower than anywhere else in the country. As opposed to being determined by geographic area, timescales can vary depending on who lodges the application, whether it is in order and if the Land registry communicate with any interested parties. At present approximately 80% of submission are fully addressed within two weeks but some can be subject to protracted hold-ups. Historically registration takes place after the buyer has moved in to the premises so an expedited registration is not usually an essential issue but where it is urgent that the the registration takes place urgently then you or your conveyancer must communicate with the Registry to express the reasoning for the application to be prioritised.
Due to the encouragement of my in-laws I had a survey completed on a property in Dorset prior to retaining lawyers. I have been told that there is a flying freehold aspect to the house. My surveyor advised that some mortgage companies tend not grant a mortgage on such a home.
It depends who your proposed lender is. Lloyds has different instructions from Nationwide. Should you wish to telephone us we can check via the relevant lender. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Dorset. Conveyancing may be slightly more expensive based on your lender's requirements.
I have recently realised that I have 68 years remaining on my lease in Dorset. I need to get lease extension but my landlord is absent. What should I do?
If 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 mean that your lease can be extended by the Court. You will be obliged to prove that you or your lawyers have done all that could be expected to find the lessor. In some cases an enquiry agent should be helpful to carry out a search and to produce an expert document to be accepted by the court as proof that the landlord is indeed missing. It is advisable to get professional help from a solicitor in relation to proving the landlord’s disappearance and the application to the County Court covering Dorset.
I am the registered owner of a split level flat in Dorset, conveyancing having been completed half a dozen years ago. How much will my lease extension cost? Corresponding flats in Dorset with an extended lease are worth £171,000. The average or mid-range amount of ground rent is £50 levied per year. The lease runs out on 21st October 2105
With 79 years remaining on your lease we estimate the price of your lease extension to be between £8,600 and £9,800 plus 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 without more comprehensive investigations. Do not use this information in tribunal or court proceedings. There may be other concerns that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. Neither should you take any other action placing reliance on this information before getting professional advice.