My husband and I are approaching an exchange on a flat in Dorset and my parents have transferred the 10% deposit to my conveyancer. I am now informed that as the deposit has not come from me my property lawyer needs to disclose this to my lender. Apparently, in also acting for the mortgage company he must advise them that the balance of the purchase price is coming from anyone other than me. I disclosed to the mortgage company concerning my parents' contribution when I applied for the mortgage, so is it really appropriate for this now to delay the deal?
Your lawyer is legally required to clarify with the bank to ensure that they understand that the balance of the purchase price is not from your own resources. The solicitor can only notify this to your bank if you permit them to, failing which, your lawyer must cease to continue acting.
We're in Dorset, First time buyers purchasing with a mortgage (lender is RBS , and our solicitor is on the RBS conveyancing panel). How long should the conveyancing process take?
The fact that your lawyer is on the RBS conveyancing panel is a help. It would almost certainly delay matters if they were not. However, no conveyancer should guarantee a timeframe for your conveyancing, due to third parties outside of your control such as delays caused by lenders,conveyancing search providers or by the other side’s solicitors. The time taken is often determined by the number of parties in a chain.
When it comes to mortgage companies such as Bank of Ireland, do Dorset conveyancing practitioners have to pay an annual charge to be on the conveyancing panel?
We are unaware of any bank fees to register on their list of approved firms, although some do levy an administration fee to deal with the processing of the conveyancing panel application.
I have decided to exercise my right to buy my property in Dorset off the council. I have a mortgage offer with TSB. Conveyancing is not something I have any knowledge of. Can I proceed without a solicitor easily? I think we can but we keep being told I should use one. Any advice?
It is not advisable to proceed with a house purchase without a solicitor. The council's solicitor are not acting for you. You need a solicitor for a number reasons. One of which is to verify what plans the Council have for repairs and refurbishment for the next five years. Many leaseholders have been stung for contributions of thousands of pounds. In any event, if you are getting a mortgage with TSB, you will need to appoint a solicitor on the TSB conveyancing panel.
I've digested plenty of mortgage guides, I note that they all recommend that you should get your house surveyed prior to buying it. When I asked my local Dorset solicitor - who is on the Leeds Building Society conveyancing panel - on this she said they don't do this and I need to contract an independent surveyor. is that correct?
Leeds Building Society will need an independent valuation of the property. Your lawyer will not arrange this. Usually Leeds Building Society will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey. You may wish to consider appointing your own Dorset surveyor to carry out a survey or prepare a home buyers report on the property. It is up to you to satisfy yourself that the property is structurally sound before you buy it. If the survey or report reveals that building work is needed, you should tell your solicitor. You may wish to renegotiate with the seller.
What can a local search reveal regarding the property my wife and I buying in Dorset?
Dorset conveyancing often commences with the submitting local authority searches directly from your local Authority or via a personal search company for example Searches UK The local search plays an important part in most Dorset conveyancing purchase; that is if you wish to avoid any unpleasant once you have moved into your new home. The search should supply data on, amongst other things, details on planning applications relevant to the premises (whether granted or refused), building control history, any enforcement action, restrictions on permitted development, nearby road schemes, contaminated land and radon gas; in all a total of 13 topic headings.
I have todayfound out that Stirling Law have been shut down. They carried out my conveyancing in Dorset for a purchase of a leasehold flat 10 months ago. How can I be sure that my home is registered correctly in the name of the former proprietor?
The easiest method to check if the premises is in your name, 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 Dorset conveyancing specialists.
I've recently found out that there is a flying freehold issue on a house I have offered on a fortnight ago in what was supposed to be a quick, no chain conveyancing. Dorset is the location of the property. What do you suggest?
Flying freeholds in Dorset are unusual but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Dorset you must be sure that your lawyer goes through the deeds diligently. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Dorset may decide 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 premises.