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Recently asked questions about conveyancing in Dorset

My husband and I swapping mortgage lender for our maisonette in Dorset with TSB. We have a son 18 who lives with us. Our solicitor has asked us to disclose anyone over the age of 17 other than ourselves who reside at the property. Our lawyer has now e-mailed a document for our son to sign, giving up any rights in the event that the property is forfeited by the lender. I have two concerns (1) Is this form unique to the TSB conveyancing panel as he did not need to sign this form when we bought 5 years ago (2) In signing this form is our son in any way compromising his right to inherit the property?

First, rest assured that your TSB conveyancing panel solicitor is doing the right thing as it is established procedure for any occupier who is aged 17 or over to sign the necessary Consent Form, which is purely to state that any rights he has in the property are postponed and secondary to TSB. This is solely used to protect TSB if the property were re-possessed so that in such circumstances, your son would be legally obliged to leave. It does not impact your son’s right to inherit the apartment. Please note that if your son were to inherit and the mortgage in favour of TSB had not been discharged, he would be liable to take over the loan or pay it off, but other than that, there is nothing stopping him from keeping the property in accordance with your will or the rules of intestacy.

Will my lawyer be raising enquiries regarding flooding during the conveyancing in Dorset.

The risk of flooding is if increasing concern for conveyancers conducting conveyancing in Dorset. There are those who acquire a house in Dorset, fully aware that at some time, it may suffer from flooding. However, aside from the physical destruction, where a house is at risk of flooding, it may be difficult to obtain a mortgage, satisfactory building insurance, or sell the premises. Steps can be carried out as part of the conveyancing process to forewarn the buyer.

Lawyers are not qualified to give advice on flood risk, however there are a various searches that may be initiated by the purchaser or on a buyer’s behalf which should give them a better appreciation of the risks in Dorset. The standard completed inquiry forms sent to a buyer’s lawyer (where the solicitors are adopting what is known as the Conveyancing Protocol) includes a standard question of the vendor to find out if the premises has ever been flooded. If the residence has been flooded in past which is not disclosed by the seller, then a buyer may issue a compensation claim as a result of such an incorrect response. The purchaser’s solicitors should also carry out an environmental search. This will higlight whether there is a recorded flood risk. If so, further investigations will need to be carried out.

What makes your site different to other web based conveyancing solicitors when it comes to conveyancing in Dorset?

At this site secure a fixed fee quote from a Solicitor or Licensed Conveyancer that has a full understanding of the issues of your conveyancing in Dorset. Unlike many estate agents and brokerage sites we do not charge firms a fee if you choose them for your property ownership legalities in Dorset

I am attracted to a couple of flats in Dorset which have in the region of fifty years left on the leases. Will this present a problem?

There is no doubt about it. A leasehold flat in Dorset is a wasting asset as a result of the reducing lease term. The closer the lease gets to its expiry date, the more it reduces the marketability of the property. For most buyers and mortgage companies, leases with less than 75 years become less and less attractive. On a more upbeat note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the property for two years (unlike a Section 13 notice for purchasing the freehold, when leaseholders can participate from day one of ownership). When successful, they will have the right to an extension of 90 years to the current term and ground rent is effectively reduced to zero. Before moving forward with a purchase of premises with a short lease term remaining you should talk to a solicitor specialising in lease extensions and leasehold enfranchisement. We are are happy to put you in touch with Dorset conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. More often than not it is possible to negotiate informally with the freeholder to extend the lease. You may find he or she is happy to negotiate informally and willing to consider your offer straight off, without having to involve anyone else. This will save you time and money and it could help you reach a lower price on the lease. You need to ensure that any new terms represent good long-term value compared with the standard benefits of the Section 42 Notice and that onerous clauses are not inserted into any redrafting of the lease.

I bought a basement flat in Dorset, conveyancing having been completed half a dozen years ago. Can you work out an approximate cost of a lease extension? Equivalent flats in Dorset with a long lease are worth £222,000. The average or mid-range amount of ground rent is £50 yearly. The lease ceases on 21st October 2091

With only 70 years remaining on your lease the likely cost is going to be between £9,500 and £11,000 plus professional fees.

The figure above a general guide to costs for extending a lease, but we are not able to supply the actual costs without more comprehensive due diligence. You should not use the figures in a Notice of Claim or as an informal offer. There are no doubt other concerns that need to be considered and clearly you should be as accurate as possible in your negotiations. Neither should you take any other action placing reliance on this information without first getting professional advice.

What is the distinction between surveying and conveyancing in Dorset?

Conveyancing - in Dorset or anywhere in England and Wales - is the process of legally transferring legal title of property from one person to another. It therefore includes the investigation of the title. Whether buying or selling, you should be aware of anything affecting the property such as proposals by government departments, illegal buildings, or outstanding rates. The conveyancer should conduct the appropriate searches and inquiries on the property. Surveying relates to the structure of a property itself. A surveyor will look at a house, flat and any outbuildings you are purchasing and will help you discover the condition of the building and, if there are problems, give you a powerful reason for negotiating the buying price down or asking the seller to fix the defects prior to you complete your move.

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