My wife and I are buying a 2 bedroom apartment in Dartmouth with a mortgage. We like our Dartmouth solicitor, but the mortgage company says she’s not on their "panel". It appears that we have no choice but to use one of the lender panel firms or continue with our Dartmouth conveyancing practitioner and pay for one of their panel lawyers to represent them. We regard this is inequitable; is there anything we can do?
No, not really. 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. A further alternative is for your Dartmouth conveyancing solicitor to apply to be on the conveyancing panel.
Should our solicitor be making enquiries about flooding as part of the conveyancing in Dartmouth.
Flooding is a growing risk for solicitors carrying out conveyancing in Dartmouth. Plenty of people will acquire a property in Dartmouth, completely aware that at some time, it may be flooded. However, aside from the physical destruction, if a house is at risk of flooding, it may be difficult to get a mortgage, adequate insurance cover, or sell the premises. Steps can be carried out as part of the conveyancing process to forewarn the buyer.
Conveyancers are not qualified to offer advice on flood risk, but there are a numerous checks that may be initiated by the purchaser or on a buyer’s behalf which will figure out the risks in Dartmouth. The conventional set of completed inquiry forms given to a purchaser’s conveyancer (where the Conveyancing Protocol is adopted) includes a usual inquiry of the owner to discover whether the property has ever been flooded. In the event that the residence has been flooded in past and is not disclosed by the seller, then a purchaser could commence a compensation claim as a result of such an incorrect response. A buyer’s conveyancers may also conduct an environmental search. This will higlight if there is a recorded flood risk. If so, further investigations will need to be conducted.
My wife and I purchased a 4 bedroom Edwardian house in Dartmouth. Conveyancing solicitor represented me and TSB. I did a free Land Registry search last week and there are two entries: one for freehold, another for leasehold with the matching property. If a house is not a freehold shouldn't I have been informed?
You should review the Freehold register you have again and check the Charges Register as there may be mention of a lease. The best way to be sure that you are also the registered owner of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Dartmouth and other areas of the country and poses no real issues for owners other than when they mortgage they have to account for both freehold and leasehold interests when dealing with buyers. You can also check the situation with your conveyancing practitioner who conducted the purchase.
Over the last few months I have been searching for a leasehold apartment up to £245,000 and found one near me in Dartmouth I like with amenity areas and transport links in the vicinity, however it's only got 51 remaining years left on the lease. I can't really find anything else in Dartmouth in this price bracket, so just wondered if I would be making a mistake purchasing a lease with such few years left?
If you need a home loan the shortness of the lease may be an issue. Discount the offer by the expected lease extension will cost if it has not already been discounted. If the existing proprietor has owned the property for a minimum of 2 years you could ask them to start the process of the extension and then assign it to you. You can add 90 years to the existing lease with a zero ground rent applied. You should consult your conveyancing solicitor regarding this.
What does commercial conveyancing in Dartmouth cover?
Non domestic conveyancing in Dartmouth incorporates a broad array of advice, given by regulated solicitors, relating to business property. By way of example, this type of conveyancing can cover the sale or purchase of freehold business premises or, more usually, the assignment of existing business tenancies or the drafting of new leasing arrangements. Commercial conveyancing solicitors can also offer advice on the sale of business assets, commercial loans and the termination of leases.