I happen to be the single recipient of my late grandmother’s will with all property in now in my sole name, including the my former home in Dorchester. Conveyancing formalities meant that the Land Registry date was in March. I want to move. I do know about the Mortgage Lenders 6 month 'rule', meaning my property ownership may be regarded the same way as though I had purchased the house in March. Will no one buy the property for half a year?
The Council of Mortgage Lenders’ handbook instructs solicitors to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." By the strict wording you might be impacted by that. How practical a view banks take of it, depend on the mortgage company as this clause is primarily there to capture subsales or the quick reselling of properties.
My fiancee and I are spending time looking at apartments in Dorchester and I am now considering a potential offer. Is it wise to have a solicitor on ‘stand by’? I intend to finance via a home loan with Clydesdale.
You should start obtaining conveyancing estimates from solicitors ASAP. After you have chosen your lawyer and once your offer is accepted you can instruct them to work for you and pass their details on to the estate agent. As you are seeking a mortgage with Clydesdale, ask your prospective lawyers if they are on the Clydesdale conveyancing panel otherwise they can't do the mortgage legal work.
I was told two weeks ago that my mortgage has been agreed to by Bank of Ireland. Is it usual for Bank of Ireland to only issue the offer once my solicitor in Dorchester is approved on their conveyancing panel? Bank of Ireland have asked my solicitor to see a copy of their Professional Indemnity Insurance Schedule.
A lender would not issue an offer until they have details of a lawyer on their panel. It can take a few weeks for Bank of Ireland to deal with your lawyer's application to be on the Bank of Ireland conveyancing panel. There's no guarantee that your solicitor will be accepted.
Do commercial conveyancing searches disclose proposed roadworks that could impact a commercial property in Dorchester?
Many commercial conveyancing solicitors in Dorchester will conduct a SiteSolutions Highways report as it reduces the time that conveyancers invest in looking into accurate data on highways that impact buildings and development assets in Dorchester. The report sets out definitive information on the adoption status of roads, footpaths and verges, as well as the implication of traffic schemes and the rights of way surrounding a commercial development sites in Dorchester.
For each commercial conveyancing transaction in Dorchester it is crucial to investigate the adoption status of roads surrounding a site. The absence of identifying developments where adoption procedures have not been addressed adequately may result in delays to Dorchester commercial conveyancing deals as well as pose a risk to future intentions for the site. These searches are not ordered for domestic conveyancing in Dorchester.
I am buying a new build apartment in Dorchester. Conveyancing is a frightening process at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build conveyancing.
Here are examples of a selection of leasehold new build enquiries that you should expect your new-build leasehold conveyancing in Dorchester
-
Will the freehold then be transferred for a nominal consideration (not exceeding £100) to the Management Company? Please supply a car parking plan. The Landlord must covenant to assume the management if the Management Company goes into liquidation or otherwise defaults in running the management scheme. Has the Lease plan been approved by the Land Registry and if not when will they be lodged for this purpose? There must be mutual enforceability of lessee’s covenants.
I opted to have a survey carried out on a property in Dorchester before appointing lawyers. I have been told that there is a flying freehold overhang to the property. My surveyor advised that some lenders tend not give a mortgage on such a home.
It varies from the lender to lender. HSBC has different instructions for example to Halifax. If you contact us we can check with the appropriate bank. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Dorchester. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Dorchester to see if the conveyancing will be more expensive.
I am looking into buying my first house which is in Dorchester and I am already nervous. I couldn't find anything specific about Dorchester. Conveyancing will be needed in due course but do you know about the Dorchester area? or perhaps some other tips you can share?
Rather than looking online forget looking online you should go and have a look at Dorchester. In the meantime here are some basic statistics that we found
Completion is due on the sale of our £375,000 maisonette in Dorchester in seven days. The managing agents has quoted £360 for Landlord’s certificate, building insurance schedule and previous years statements of service charge. Is it legal for a freeholder to charge an administration fee for a leasehold conveyance in Dorchester?
Dorchester conveyancing on leasehold apartments often requires the buyer’s conveyancer sending questions for the landlord to address. Although the landlord is not legally bound to address such questions most will be willing to do so. They are entitled to levy a reasonable charge for responding to enquiries or supplying documentation. There is no set fee. The average costs for the information that you are referring to is £350, in some cases it is above £800. The administration charge invoiced by the landlord must be accompanied by a synopsis of entitlements and obligations in relation to administration fees, otherwise the charge is not strictly payable. In reality one has little choice but to pay whatever is requested of you should you wish to exchange contracts with the buyer.
Leasehold Conveyancing in Dorchester - A selection of Queries Prior to Purchasing
-
Best to be warned if redecorating or some other significant cost is anticipated to be shared by the leasehold owners and will materially impact the level of the maintenance costs or necessitate a specific invoice. The best form of lease structure is a share of the freehold. In this situation the tenants have being in charge if their destiny and although a managing agent is usually retained if the building is larger than a house conversion, the managing agent is directed by the tenants.