I can't travel far from Great Dunmow. Is there a reason why all Great Dunmow property lawyers aren't automatically on all mortgage company panels?
Lenders highlight the fact that solicitor-led fraud is thought to be responsible for millions of pounds of fraud every year.The elimination of law firms off of lender panels started with the rise in mortgage fraud, which prompted a thematic review by the FSA in 2011. Its outcome included recommendations for lenders to review their conveyancing panels, which kicked off a major policy change in the sector. This resulted in mortgage companies culling a number of firms from their books of approved solicitors .
What is the optimum way to discover of the solicitor conducting my conveyancing in Great Dunmow is on the lender’sconveyancing panel? I am looking to avoid the situation of having one lawyer for me and one for Barnsley Building Society thus spending £187.00 plus VAT in further conveyancing fees.
Feel free to make use of the find a conveyancing panel solicitor tool on this web page. Pick the mortgage company and type ‘Great Dunmow’ or your location and you will see numerous conveyancers based in Great Dunmow or by proximity to you.
Me and my partner are buying a house in Great Dunmow. It might be a silly question but how we can trust a solicitor? On the day of competition we have to put money into their account. What is the protection 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 just bought a property at auction in Great Dunmow. Conveyancing is required. What are my next steps?
Now that you are legally committed yourself to purchase you should appoint a conveyancing solicitor quickly as you now have a tight a fixed date to complete the deal. All auction property should have a corresponding auction pack. This will include the copy title deeds, local authority and drainage searches. Where you are dealing with leasehold premises the legal papers should contain a copy of the lease, management information and a sellers leasehold information form and associated conveyancing documentation relating to a leasehold property. You need to give this to the lawyer working for you as soon as possible. Do make sure that your finances are in place to complete on the on the contractual date .
Forgive me if this question is silly but I am wet behind the ears as FTB of a garden flat in Great Dunmow. Do I receive the keys to the premises on the completion date from my solicitor? If so, I will use a local conveyancing solicitor in Great Dunmow?
There is no need to visit the lawyers office on the day of completion. Your solicitors will transfer the purchase money to the owner’s solicitors, and shortly after the monies have arrived, you should be invited to receive the keys from the Estate Agents and move into your new home. This tends to happen between 1 and 3pm.
3 months have elapsed since my purchase conveyancing in Great Dunmow concluded. I have checked the Land Registry site which shows that I paid £200,000 when infact I paid £170,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the asset from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
How does conveyancing in Great Dunmow differ for new build properties?
Most buyers of new build property in Great Dunmow contact us having been asked by the housebuilder to sign contracts and commit to the purchase even before the premises is constructed. This is because new home sellers in Great Dunmow usually purchase the site, 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 conveyancing solicitors 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 accustomed to new build conveyancing in Great Dunmow or who has acted in the same development.
I have been on the look out for a ground for flat up to £245,000 and identified one round the corner in Great Dunmow I like with open areas and railway links nearby, the downside is that it's only got 52 years on the lease. There is not much else in Great Dunmow for this price, so just wondered if I would be making a mistake acquiring a short lease?
Should you require a home loan the shortness of the lease will likely be a potential deal breaker. Discount the offer by the anticipated lease extension will cost if it has not already been discounted. If the current owner has owned the property for at least 2 years you can ask them to commence the lease extension formalities and then assign it to you. An additional ninety years can be extended on to the existing lease term with a zero ground rent applied. You should consult your conveyancing lawyer regarding this.