I am not well enough to travel far from Dorchester. What is the rationale as to why all Dorchester conveyancers are not on all lender panels?
As inequitable as it may appear for banks to restrict who can represent them, from the public’s or conveyancer’s standpoint, the flip side is that lending institutions are increasingly anxious and consider it imperative to protect them from illegal activities. As a result of this concern lenders have restricted their conveyancing panel to a manageable size.
My fiancee and I are purchasing our first property. Our conveyancing practitioner has calledto check if we wish to order additional conveyancing searches. We are really unsure what's recommended for conveyancing in Dorchester
The range of Dorchester conveyancing searches depends entirely on the premises, the location, the probability of any of these risks, your familiarity of the area and risks, your overall attitude to risk. What matters is that you adequately appreciate what information each search could provide. Then you can decide if you personally think you need that information. Where you are uncertain, ask the lawyer to provide guidance.
Last month we had a mortgage agreed in principle with Nottingham. Dorchester conveyancing practitioners are instructed. What is the average time that one could expect to receive a mortgage offer from Nottingham?
Some lenders take longer than others. Have Nottingham completed the valuation? Have you advised Nottingham as to your lawyers' details and checked that your lawyers are on the Nottingham conveyancing panel? It is not unusual for a mortgage offer to take a month to come through.
I have instructed a Dorchester solicitor having checked that they are on the Lloyds conveyancing panel. Does my lawyer arrange the survey of the property?
Lloyds will need an independent valuation of the property. Your lawyer will not arrange this. Usually Lloyds 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. Your solicitor will not organise the survey but they may be able to put you in touch with a local one that they recommend. RICS offers a find a surveyor service (just google it) where you can search for a qualified surveyor by your Dorchester postcode. As you are getting a mortgage with Lloyds, you could contact them to see if they have a list of approved surveyors in Dorchester.
Clydesdale have agreed my mortgage in principle, my offer on a house in Dorchester has been agreed to, what are the next steps?
The estate agent will want to be advised as to your conveyancing practitioner's details (ensure that the lawyers are on the bank’s approved list). Telephone Clydesdale or the broker and finalise any appropriate paperwork. Clydesdale will sellect a valuer who will get in touch with the estate agent or seller to arrange an appointment. Once carried out (assuming no problems) it takes on average ten days for the mortgage offer to be issued. Clydesdale will issue the offer to you and your lawyers. The legal work will then take it’s course according the nature and complexity of the conveyancing in Dorchester.
four months have elapsed following my purchase conveyancing in Dorchester concluded. I have checked the Land Registry site which shows that I paid £150,000 when infact I paid £180,000. 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 residence 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.
Yesterday I discovered that there is a flying freehold issue on a property I have offered on a fortnight ago in what should have been a straight forward, no chain conveyancing. Dorchester is the location of the property. What do you suggest?
Flying freeholds in Dorchester are not the norm but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Dorchester you would need to get your solicitor to go through the deeds thoroughly. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Dorchester 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 residence.