I'm in the process of porting my current residential home loan to a BTL Chelsea Building Society mortgage. I was told by my financial advisor that I need a conveyancer as part of the process. I got in contact with my past Dorset conveyancing firm who dealt with the legals when I originally purchased the house. The fee calculation they've given of £550 is surprising as its a remortgage than a sale or purchase.
The estimate does seem a little steep. If you are happy to invest time scrutinising quotes you might decrease the fees slightly by perhaps £125. That being said, providing that you were content with the legal work the firm offered you couldcome to regret opting for an a cheaper conveyancer. Remember to enquire that the conveyancer can also act for Chelsea Building Society. Do make use of our search tool to locate a Dorset conveyancing firm on the Chelsea Building Society approved list of lawyers, which can often include conveyancing solicitors in Dorset.
In what way does my ID and proof of funds have anything to do with my conveyancing in Dorset? Why is this being asked of me?
Anti-terror and anti-money-laundering laws require solicitors and licensed conveyancers to verify the identity of the potential client they are dealing with prior to agreeing to accepting their conveyancing instruction. The Terms of Engagement that you are required to sign should confirm this. Your lawyer also has obligations to obtain certain documents in accordance with the CML Lenders Handbook requirements last updated on 1st December 2014. If you are unwilling to supply identification documents, your solicitor will not be able to take you on as a client.
My Conveyancer in Dorset has never been on on the Norwich and Peterborough Building Society Solicitor Panel. Is it possible for me to use my prefered solicitor even though they are not on the Norwich and Peterborough Building Society panel of approved conveyancing solicitors?
Your options are as follows:
- Carry on with your preferred Dorset lawyers but Norwich and Peterborough Building Society will need to instruct a conveyancer on their list of acceptable firms. This will result in additional overall legal charges and cause frustration.
- Get a new lawyer to to deal with the purchase, remembering to check they are on the Norwich and Peterborough Building Society panel
I am looking for a conveyancing solicitor in Dorset for my house move. Can I check a firm’s complaints history with the legal regulator?
Members of the public may review published Solicitor Regulator Association (SRA) decisions arising from inquisitions from 2008 onwards. Go to Check a solicitor's record. To find details about the period before 1 January 2008, or to check a firm's record, ring 0870 606 2555, 08.00 - 18.00 Monday, Wednesday, Thursday, Friday and 09.30 - 18.00 Tuesday. International callers, call +44 (0)121 329 6800. The regulator may monitor call for training requirements.
I’m about to sell my ground floor flat in Dorset. Conveyancing solicitors are to be appointed soon, however I have just had a half-yearly service charge invoice – should I leave it to the buyer to sort out?
The sensible thing to do is discharge the maintenance contribution as usual because all rents and maintenance payments should be allotted as part of the financial calculations for completion monies, so you will be reimbursed by the purchaser for the period running from after the completion date to the subsequent invoice date. Most management companies will not acknowledge the buyer until the service charges have been paid and are up to date, so it is important for both buyer and seller for the seller to show that they are up to date. This will smooth the conveyancing process.
I acquired a 1st floor flat in Dorset, conveyancing having been completed in 2011. Can you please calculate a probable premium for a statutory lease extension? Similar flats in Dorset with a long lease are worth £216,000. The average or mid-range amount of ground rent is £50 invoiced every year. The lease ceases on 21st October 2089
With just 69 years remaining on your lease the likely cost is going to span between £9,500 and £11,000 as well as legals.
The figure above a general guide to costs for renewing a lease, but we are not able to advice on a more accurate figure in the absence of detailed investigations. You should not use this information in a Notice of Claim or as an informal offer. There are no doubt additional concerns that need to be considered and clearly you should be as accurate as possible in your negotiations. You should not move forward placing reliance on this information without first getting professional advice.