My wife and I are acquiring a new build flat in Dorset and my solicitor is advising me that she has to the bank to reveal incentives from the builder. I am nearing the developer’s deadline to exchange contracts and I don't want to delay deal. is my lawyer playing by the book?
You should not exchange unless you have been advised to do so by your solicitor. A precondition to being on a lender panel is to comply with the UK Finance Lenders’ Handbook requirements. The CML Conveyancing Handbook requires that your lawyer have the appropriate Disclosure of Incentive form completed by the developer and accepted by your lender.
What does my ID and proof of funds have anything to do with my conveyancing in Dorset? Is this really warranted?
It is indeed that case that these requests have nothing to do with conveyancing in Dorset. Nowadays you will not be able to proceed with any conveyancing transaction in the absence submitting evidence of your identity. This usually takes the form of a either your passport or driving licence as well as a bank statement. Please note that if you are supplying your driving licence as proof of ID it needs to be both the paper section as well as the photo card part, one is not sufficient without the other.
Verification of the source of money is required in accordance with the Money Laundering Regulations. Please do not be offended when you are asked to produce this as your conveyancing solicitor must have this information on record. Your Dorset conveyancing practitioner will require evidence of proof of funds before they are able to accept any money from you into their client account and they may also ask additional queries concerning the origin of funds.
My wife and I are downsizing from our home in Dorset and according to the buyers it appears that there is a possibility that the property was built on contaminated land. Any high street Dorset lawyer would know this is not the case. For the life of me I don't know why the purchasers instructed an internet conveyancing firm as opposed to a conveyancing solicitor in Dorset. Having lived in Dorset for 5 years we know that this is a non issue. Is it a good idea to contact our local Authority to get confirmation that the buyers are looking for.
It would appear that you have a conveyancing lawyer currently acting for you. Are they able to advise? You should enquire of your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out life insurance to cover that same illness)
I have been on the look out for a ground for flat up to £195,000 and identified one close by in Dorset I like with amenity areas and railway links in the vicinity, the downside is that it only has 51 years on the lease. I can't really find anything else in Dorset in this price bracket, so just wondered if I would be making a grave error buying a lease with such few years left?
If you need a home loan the shortness of the lease will be an issue. Reduce the offer by the amount the lease extension will cost if it has not already been discounted. If the current owner has owned the premises for at least 2 years you can 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 with a zero ground rent applied. You should speak to your conveyancing lawyer concerning this.
What does commercial conveyancing in Dorset cover?
Non domestic conveyancing in Dorset covers a broad array of services, given by regulated solicitors, relating to business property. By way of example, this area of conveyancing can cover the sale or purchase of freehold business premises or, more commonly, the assignment of existing leases or the drafting of new leasing arrangements. Commercial conveyancing solicitors can also offer advice on the sale of business assets, commercial mortgages and the termination of tenancies.
The financial adviser has recommended their conveyancer for our conveyancing in Dorset - Surely it’s advisable to just use them?
You need to establish if the estate agent is recommending a lawyer or introducing to a lawyer. There are plenty of Dorset selling agents who recommend two or three Dorset conveyancing firms purely based on those lawyers offering a great service.