Unfortunately I am unable to travel far from Dorset. What is the rationale as to why all Dorset lawyers aren't automatically on all mortgage company panels?
Pre- 2008 most mortgage companies displayed an approach to risk which differs from the current day. The FSA in 2010 conducted a thematic review into property fraud which concluded: know the property lawyers on your panel. Consequently, lenders have since looked to extract more information from law firms about their operations and the individuals employed by them and set certain criteria such as completing a minimum number of transactions. Many law practices have found themselves removed from lender panels even though they had 100% healthy disciplinary record, no complaints and no claims and didn't just 'dabble' in conveyancing. Such firms were never going to meet the criteria of amount of transactions the lenders set.
Our Dorset conveyancer has spotted a difference between the assumptions in the home valuation survey and what is in the conveyancing documents. My solicitor informs me that he is duty bound to check that the lender is happy with this discrepancy and is still content to lend. Is my solicitor’s stance legitimate?
Your conveyancing practitioner must comply with the UK Finance Lenders’ Handbook specifications which do require that your lawyer disclose any incorrect assumptions in the lender’s valuation report and the legal papers. Should you refuse to allow your lawyer to make the appropriate notification then your lawyer will have no choice but to discontinue acting for both parties.
Having sold my house in Dorset last August but my buyer keeps SMS messaging every few hours complaining that their solicitor needs to hear from mine. What are the post completion sale formalities now that I have sold?
Post completion of your disposal your conveyancer should deliver the transfer documentation and all supplemental paperwork to the purchaser's lawyers. Depending on the transaction, your lawyer should also evidence that the legal charge in favour of the lender has been redeemed to the purchasers solicitors. There are no post completion procedures just for conveyancing in Dorset.
This question may be naive but I am unseasoned as a 1st time purchaser of a garden flat in Dorset. Do I pick up the keys to the premises on the completion date from my lawyer? If this is the case, I will find a High Street conveyancing solicitor in Dorset?
There is no need to visit the lawyers office on the day of completion. Conveyancing lawyers for you will electronically transfer the purchase money to the vendor’s conveyancers, and shortly after the monies have arrived, you should be able to receive the keys from the property Agents and start moving into the property. This tends to happen early afternoon.
We expect to receive a DIP from Nationwide this week so we know how much we could potentially offer as otherwise we are dependent on web based calculators (which aren't taking into account credit checks etc). Do Nationwide recommend any Dorset solicitors on the Nationwide conveyancing panel, or is it better to go independently?
You will need to appoint Dorset solicitors independently although you'll need to choose one on the Nationwide conveyancing panel. The solicitor represents both you and Nationwide through the process.
Completion of my purchase has taken place for my property in Dorset. Conveyancing was a necessary evil but I feel I should register my dissatisfaction about the lender. Who do I contact should I wish to lodge a complaint?
Most lenders have complaints procedures. Your first point of contact should be one of the lender’s branches or the Customer Care Team at head office. We understand that complaints to a lender are resolved very quickly. If you feel the matter is not resolved you can write to Financial Ombudsman Service, South Quay Plaza, 183 Marsh Wall, London E14 9SR with full details of your complaint.
I have been told that property searches are the number one cause of stalling in Dorset conveyancing transactions. Is there any truth in this?
The Council of Property Search Organisations (CoPSO) published determinations of a review by MoveWithUs that conveyancing searches do not figure amongst the common causes of hindrances during the legal transfer of property. Searches are not likely to feature in any slowing down conveyancing in Dorset.
The lawyers handling our conveyancing in Dorset has sent documents to review that reveal that the land is unregistered with epitome documents. How can it be that the property not registred at HM Land Regsitry?
It is rare for premises in Dorset not to be registered. An 'epitome' is basically a dossier of photocopies of documents affecting an unregistered title. Plenty of Dorset conveyancing practitioners should be able to handle this type of conveyancing but if any uncertainty exists the standard recommendation presently is for the seller to register the title first and then sell - this no doubt cause a significant delay.