I am buying residence in Dorset. My property lawyer is not listed on the lender approved list. Can I still continue with my Dorset conveyancing solicitor notwithstanding that they are not on the mortgage company list of approved lawyers?
You have numerous alternatives available to you here
- Proceed with your existing Dorset conveyancer but your bank will undoubtedly use a conveyancing practitioner from their approved panel. This will result in additional fees together with probable delay.
- Choose a fresh conveyancer to act in the purchase, ensuring that they are on the lender conveyancing panel.
- Convince your solicitor to do everything possible to get accepted on the mortgage company conveyancing panel
This question may be naive but I am new to the home buying as FTB of a two bedroom flat in Dorset. Do I receive the keys to the premises on the completion date from my solicitor? If this is the case, I will use 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 owner’s solicitors, and once they have received this, you will be invited to receive the keys from the property Agents and start moving into the property. Usually this occurs between 1 and 3pm.
I currently have a mortgage with Lloyds for my property in Dorset. Conveyancing was finalised a year ago. In the event that I decide to rent out the flat and do not currently have a buy-to-let mortgage do I need to remortgage to a BTL mortgage or inform Lloyds?
Lloyds must be informed of your intention before renting your property as this is likely to be a breach of Lloyds’s mortgage conditions. It may be that Lloyds will permit you to let out your former home without needing to switch to a buy-to-let mortgage but some lenders will add a surcharge to your mortgage rate to reflect the higher risk. You should contact Lloyds directly. It should not be necessary to do this via a Lloyds conveyancing panel solicitor.
My sealed bid on a detached house in Dorset has been agreed to, the sellers do however have a connected purchase. The sellers have put an offer on a flat, however it’s not yet tied up, and are looking at other properties booked. I have selected a bricks and mortar conveyancing solicitor in Dorset. What do I do now? At what stage do I apply for the mortgage with Nottingham?
It is understandable to have anxieties where there is a chain as you are unlikely to want to be too out of pocket too early (mortgage application is approx one thousand pounds, then survey, Dorset conveyancing search charges, etc). The first course of action is to check that your conveyancing practitioner is on the Nottingham approved list. Regarding the subsequent phase this very much dictated by the specifics of your transaction, motivation for this property and on the state of the market. During a rising market many home buyers will apply for a home loan with Nottingham and arrange for the valuation and only if it was satisfactory would they request their conveyancer to move forward with the conveyancing in Dorset.
I am buying a new build house in Dorset with a loan from Platform Home Loans Ltd. The builders would not move on the price so I negotiated 6k of extras instead. The estate agent suggested that I not disclose to my conveyancer about the extras as it will adversely affect my mortgage with the bank. Do I keep my lawyer in the dark?.
All lenders require a Disclosure of Incentives Form from the developer of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
Due to the guidance of my in-laws I had a survey completed on a house in Dorset before instructing lawyers. I have been advised that there is a flying freehold overhang to the house. Our surveyor advised that some banks may refuse to grant a loan on this type of property.
It varies from the lender to lender. Santander has different instructions for example to Nationwide. If you e-mail us we can check via the appropriate mortgage company. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Dorset. Conveyancing will be smoother if you use a solicitor in Dorset especially if they are familiar with such properties in Dorset.
What makes your site different to alternative web based conveyancing solicitors when it comes to conveyancing in Dorset?
At this site obtain a conveyancing costs illustration via a Solicitor or Licensed Conveyancer that appreciates the issues of your conveyancing in Dorset. Unlike many estate agents and many comparison sites we do not have kick-back arrangements with solicitors. A large number of agents and online brokers 'recommend' solicitors who pay the most kickback, not the best value conveyancing in Dorset
Back In 2008, I bought a leasehold flat in Dorset. Conveyancing and Norwich and Peterborough Building Society mortgage are in place. A letter has just been received from someone claiming to own the reversionary interest in the property. It included a demand for arrears of ground rent dating back to 1994. The conveyancing practitioner in Dorset who acted for me is not around. What should I do?
The first thing you should do is contact HMLR to be sure that this person is in fact the registered owner of the freehold reversion. It is not necessary to instruct a Dorset conveyancing solicitor to do this as it can be done on-line for a few pound. Rest assured that regardless, even if this is the rightful landlord, under the Limitation Act 1980 no more than 6 years of rent can be collected.
Leasehold Conveyancing in Dorset - A selection of Questions you should ask Prior to buying
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Is the freehold owned collectively by the leaseholders? Please note if it is no more than 80 years it will have adverse implications on the marketability of the apartment. Check with your mortgage company that they are willing to lend given the lease term. A short lease means that you will almost definitely require a lease extension sooner rather than later and you need to have some idea of how much this would cost. For most Dorsetlease extensions you would be required to have owned the residence for two years before you are eligible to carry out a lease extension. Best to be warned whether fixing the lift or some other major work is due in the near future that will be shared by the tenants and may well dramatically increase the the maintenance fees or result in a one off payment.