My husband and I are planning to acquire a 2 bedroom flat in Great Dunmow with a mortgage. We wish to retain our Great Dunmow conveyancer, however the mortgage company advise she’s not on their "panel". It appears that we have no choice but to instruct one of the bank panel conveyancing practices or continue with our Great Dunmow solicitor and pay for one of their panel ones to act for them. We regard this is inequitable; is there anything we can do?
Unfortunately,no. The mortgage offered to you is subject to its terms and conditions, one of which will be that lawyers will on the lender’s conveyancing panel. Until recently, most lenders had large numbers of law firms on their panels: a borrower could choose one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. Another option that might be available is for your Great Dunmow conveyancing solicitor to apply to be on the conveyancing panel.
My wife and I are buying a flat in Great Dunmow. I might seem paranoid but how we can trust a solicitor? At some point we have to put money into their account. What protection do we have from them run away with our monies?
Be assured that all money in a Solicitors client account is 100% safe, and even if your Solicitor ran off with it, the Law Society would reimburse you fully.
I am the single beneficiary of my late father’s estate and I have everything in my name now, including the my former home in Great Dunmow. Conveyancing formalities meant that the Land Registry date was in May. I plan to dispose of the property. I do know about the CML six month 'rule', which means that my property ownership may be treated the same way as though I had purchased the house in May. Do I have to wait 6 months to sell?
The Council of Mortgage Lenders’ handbook obliges conveyancers to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." By the strict wording you may be affected by that. many banks would take a practical view as this obligation is principally there to identify subsales or the wholesaling and assigning of properties.
We had selected conveyancing lawyers locally in Great Dunmow on the Coventry BS solicitor approved list. They are now charging me a supplemental amount for handling the Coventry BS mortgage. Is this an additional conveyancing fee specified by Coventry BS?
Provided it is contained in their Terms and Conditions or estimate then yes your property lawyer is entitled to levy a fee for this. The charge is not dictated by Coventry BS but by your Great Dunmow conveyancing practitioner. Numerous firms on the Coventry BS panel will levy ’dealing with mortgage’ fee and others do not.
I need some expedited conveyancing in Great Dunmow as I have an ultimatum to complete within one month. Thankfully I do not need a mortgage. Can I decline from having conveyancing searches to save fees and time?
If.Given you are are a mortgage free buyer you are at free not to have searches conducted although no law firm would recommend that you don't. Drawing on our experience of conveyancing in Great Dunmow the following are instances of issues that can crop up and adversely impact future mortgageability: Refused Planning Applications, Overdue Fees, Outstanding Grants, Railway Schemes,...
Are there restrictive covenants that are commonly picked up during conveyancing in Great Dunmow?
Covenants that are restrictive in nature can be picked up when reviewing land registry title as part of the legal transfer of property in Great Dunmow. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
Yesterday I discovered that there is a flying freehold issue on a property I have offered on two weeks back in what was supposed to be a simple, chain free conveyancing. Great Dunmow is the location of the property. Can you shed any light on this issue?
Flying freeholds in Great Dunmow are not the norm but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Great Dunmow you would need to get your solicitor to go through the deeds diligently. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Great Dunmow may determine that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold property.
Am I best advised to choose a Great Dunmow conveyancing practitioner in close proximity to the house I am buying? I have an old university friend who can carry out the conveyancing however they are based 300miles away.
The benefit of a local Great Dunmow conveyancing practice is that you can visit the firm to sign paperwork, present your ID and apply pressure on them where appropriate. They will also have local intelligence which is a plus. That being said nothing is more important than finding someone that will do a good and efficient job. If if people you trust used your friend and in the main were impressed that must trump using an unknown Great Dunmow conveyancing solicitor solely due to them being based in the area.