Our lawyer has discovered a a problem with the lease for the flat we are buying in Great Dunmow. The seller’s lawyers have put forward defective title insurance as a workaround. We are content with insurance and will cover the costs. Our lawyer has advised that he must ensure that the mortgage company is happy with this solution. Are we the client or is the bank?
The short answer to your last question is that, notwithstanding the potential for a conflict of interest, you and the bank are the client. Your conveyancing practitioner must comply with the UK Finance Lenders’ Handbook specifications. The UK Finance Lenders’ Handbook conditions require your lawyer to disclose issues such as defects with the lease so that the lender can be afforded the opportunity to check with their valuer as to the extent that the value of the property is affected. Should you refuse to allow your lawyer to make the appropriate notification then your solicitor will have no choice but to discontinue acting for you.
I own a freehold house in Great Dunmow but still charged rent, why is this and what is this?
It is rare for properties in Great Dunmow and has limited impact for conveyancing in Great Dunmow 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 many centuries, but the Rent Charge Act 1977 barred the generation of new rentcharges from 1977 onwards.
Old rentcharges can now be extinguished by making a lump sum payment under the Act. Any rentcharges that are still in existence in 2037 is to be dispensed with completely.
I am purchasing a property and need a conveyancing solicitor in Great Dunmow who is on the Bank of Ireland conveyancing. Can you recommend a local solicitor?
Our service is limited to being a directory service for firms who wish to listed as being on the approved conveyancing panel for Bank of Ireland in certain locations such as Great Dunmow. We dont recommend any particular firm.
There is lots of information on this site concerning conveyancing in Great Dunmow but what is your top tip for choosing the right conveyancer in Great Dunmow
It would be unwise to be swayed by the cheapest Great Dunmow conveyancing fees. You really do get what you pay for when it comes to conveyancing solicitors. A cheap quote may mean that the conveyancing solicitor is handling a lot of jobs at one time and you won’t get the quality of service and the attention that you need. It is, however, wise to use a conveyancer who has a fixed fee on a no sale, no fee basis. This way, you go into the conveyancing with your eyes wide open.
Can you help - my lawyer says that lack of planning permission insurance is needed on my purchase. What is the level of cover for Great Dunmow conveyancing?
The right level of lack of planning permission indemnity insurance should be dictated by who your lender. It would differ for example between Halifax and The Mortgage Works. Conveyancing solicitors as opposed to borrowers take out such policies.
I am selling my apartment. I had a double glazing fitted in August 2007, but did not receive a FENSA certificate or Building Regulation Certificate. My buyer's lender, Coventry BS are being pedantic. The Great Dunmow solicitor who is on the Coventry BS conveyancing panel is saying indemnity insurance will be fine but Coventry BS are requiring a building regulation certificate. Why do Coventry BS have a conveyancing panel if they don't accept advice from them?
It is probably the case that Coventry BS have referred the matter to their valuer. The reason why Coventry BS may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing was correctly and safely installed. The indemnity insurance merely protects against enforcement action which is very unlikely anyway.
How does conveyancing in Great Dunmow differ for newly converted properties?
Most buyers of new build residence in Great Dunmow approach us having been asked by the builder to exchange contracts and commit to the purchase even before the house is built. This is because new home sellers in Great Dunmow usually purchase the real estate, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct property lawyers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are used to new build conveyancing in Great Dunmow or who has acted in the same development.
Am I better off to instruct a Great Dunmow conveyancing solicitor who is local to the property I am purchasing? I have an old university friend who can conduct the conveyancing however they are based a couple of hundredmiles away.
The benefit of a local Great Dunmow conveyancing practice is that you can drop in to execute documents, present your ID and pester them if necessary. Having local Great Dunmow know how is a bonus. However nothing is more important than finding someone that will do a good and efficient job. If other friends have instructed your friend and they were content that should outweigh using an unfamiliar Great Dunmow conveyancing lawyer solely due to them being local.