My partner and I are acquiring a newly constructed flat in Dunmow and my conveyancer is informing me that she is duty bound to the bank to disclose incentives from the builder. The Estate Agents are hassling me to exchange and I would rather not delay matters. Is my lawyer right?
You should not exchange unless you have been advised to do so by your property lawyer. A precondition to being on a lender panel is to comply with the UK Finance Lenders’ Handbook provisions. The CML Conveyancing Handbook requires that your lawyer have the appropriate Disclosure of Incentive form completed by the developer and accepted by your lender.
I am selling my flat in Dunmow. Will my lawyer have to be required to be on the Nationwide conveyancing panel in order to deal with repayment of my mortgage?
Ordinarily, even if your lawyer is not on the Nationwide conveyancing panel they can still act for you on your sale. It might be that the lender will not release the original deeds (if applicable and increasingly irrelevant) until after the mortgage is paid off. You should speak to your lawyer directly before you start the process though to ensure that there is no problem as lenders are changing their panel criteria fairly frequently in recent years.
Will our solicitor be asking questions about flooding during the conveyancing in Dunmow.
Flooding is a growing risk for conveyancers specialising in conveyancing in Dunmow. Some people will purchase a house in Dunmow, completely aware that at some time, it may be flooded. However, leaving to one side the physical destruction, if a property is at risk of flooding, it may be difficult to get a mortgage, satisfactory building insurance, or dispose of the property. There are steps that can be taken as part of the conveyancing process to forewarn the buyer.
Solicitors are not qualified to give advice on flood risk, however there are a number of searches that can be initiated by the buyer or on a buyer’s behalf which should figure out the risks in Dunmow. The standard information supplied to a purchaser’s conveyancer (where the solicitors are adopting what is known as the Conveyancing Protocol) contains a usual question of the owner to discover if the premises has historically flooded. In the event that flooding has previously occurred and is not notified by the vendor, then a purchaser may issue a claim for damages resulting from an inaccurate reply. A buyer’s lawyers may also order an environmental search. This should reveal if there is any known flood risk. If so, more detailed investigations should be carried out.
I have justbeen informed that Stirling Law have been shut down. They conducted my conveyancing in Dunmow for a purchase of a leasehold apartment 9 months ago. How can I check that the property is registered correctly in the name of the former proprietor?
The easiest way to check if the property is registered to you, you can make a search of the land registry (£3.00). You can either do this yourself or ask a law firm to do this for you. If you are not registered you can seek help from one of a number of Dunmow conveyancing specialists.
My father-in-law has encouraged me to appoint his lawyers for conveyancing in Dunmow. Should I use them?
There are no two ways about it it’s preferable to choose a conveyancing practitioner is to have referrals from friends or family who have actually used the solicitor you're contemplating using.
Back In 2009, I bought a leasehold flat in Dunmow. Conveyancing and Nottingham Building Society mortgage went though with no issue. I have received a letter from someone claiming to own the reversionary interest in the property. Attached was a demand for arrears of ground rent dating back to 1993. The conveyancing practitioner in Dunmow who previously acted has now retired. What should I do?
First contact the Land Registry to make sure that the individual claiming to own the freehold is in fact the new freeholder. There is no need to incur the fees of a Dunmow conveyancing solicitor to do this as it can be done on-line for a few pound. You should note that regardless, even if this is the legitimate landlord, under the Limitation Act 1980 no more than 6 years of rent can be collected.
I own a studio flat in Dunmow, conveyancing was carried out in 2010. Can you work out an approximate cost of a lease extension? Corresponding flats in Dunmow with a long lease are worth £192,000. The average or mid-range amount of ground rent is £55 invoiced annually. The lease expires on 21st October 2080
With only 54 years left to run we estimate the premium for your lease extension to be between £32,300 and £37,400 plus costs.
The suggested premium range that we have given is a general guide to costs for renewing a lease, but we are not able to advice on a more accurate figure without more comprehensive due diligence. You should not use this information in a Notice of Claim or as an informal offer. There are no doubt additional concerns that need to be considered and you obviously should be as accurate as possible in your negotiations. Neither should you move forward placing reliance on this information before seeking the advice of a professional.