I can't travel far from Dorset. I would like to know the understand why all Dorset property lawyers are not on all mortgage company panels?
Even though it may seem unfair for banks to restrict who can act for them, from the public’s or solicitor’s standpoint, the other side of the coin is that banks are increasingly anxious and regard it necessary to defend themselves from illegal activities. As a result of this concern lenders have restricted their conveyancing panel to a size that they are happy to control.
2 months have elapsed following my purchase conveyancing in Dorset concluded. I have checked the Land Registry website which shows that I paid £150,000 when infact I paid £160,000. 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 premises 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.
About to purchase a new build apartment in Dorset. Conveyancing is a frightening process at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build legal work.
Here is a sample of a few leasehold new build questions that you may expect your new-build leasehold conveyancing in Dorset
The Lease must contain a provision on behalf of the Vendor to pay the service charges in respect of unoccupied units in order to ensure that all services can be provided. Please provide evidence that the form of Lease proposed has been approved by the Land Registry. If there are lifts in the building, please confirm that the owners of flats on the ground and basement floors will not be required to contribute towards the cost of maintenance and renewal. Please supply a car parking plan. Where service of notices and proceedings can be at the property demised please confirm that this can be amended to include simultaneous services at the Lessees’ solicitors’ offices where the Lessee from time to time is not resident in the UK - such solicitors may be varied by notice in writing to the Landlord from time to time but otherwise will be as previously specified.
Do I need to be concerned that estate agents that I am dealing with are recommending a nationwide conveyancing firm as opposed to a local Dorset conveyancing practice?
As is the case with lots of service providers, often recommendations from family and friends can be very helpful. Nevertheless there are lots of players in a conveyancing matter; estate agents, mortgage brokers and banks may recommend solicitors to instruct. Sometimes these conveyancers might be known to one of the organisations as being good in their field, but sometimes there behind the scenes financial incentive behind the endorsement. You are at liberty to choose your own conveyancer. You need to be aware that the majority of lenders specify a panel list of conveyancers you must use for the mortgage related work in your transaction.
I have just started marketing my ground floor flat in Dorset. Conveyancing lawyers have not yet been instructed, however I have just received a quarterly maintenance charge invoice – should I leave it to the buyer to sort out?
Your conveyancing lawyer is likely to suggest that you should pay the service charge as you normally would as all ground rent and maintenance invoices should be apportioned as part of the financial calculations for completion monies, so you should recover the relevant percentage by the buyer for the period running from after the completion date to the next payment date. Most management companies will not acknowledge the buyer unless 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. Having a clear account will assist your cause and will leave you no worse off financially.
Dorset Conveyancing for Leasehold Flats - A selection of Queries Prior to buying
For most Dorset leaseholds the outlay for major works are not included within service charges, albeit that a few managing agents in Dorset obliged tenants to pay into a sinking fund created for the specific intention of building a fund for major works. How is the lease structured? The majority of Dorset leasehold properties will be liable to pay a service charge for maintenance of the building levied by the landlord. Should you purchase the property you will have to pay this charge, normally quarterly accross the year. This can be anything from several hundred pounds to thousands of pounds for blocks with lifts and large common areas. There will also be a rentcharge to be met annual, this is usually not a large sum, say around £25-£75 but you should to enquire it because on occasion it could be many hundreds of pounds.