I had intended to instruct a conveyancing solicitor in Dover for our home move. Our broker has since advised us that our mortgage lenders Halifax won't deal with them. Surely this is unfair competition?
Pre- 2008 most lenders had a different appetite for risk. Almost all Dover conveyancing firms would have been on many lender panels. The Financial Services Authority in 2010 completed a thematic investigation into mortgage fraud which concluded: mortgage lenders should know the conveyancing solicitors dealt with. Consequently, mortgage companies have regularly sought more information from law firms concerning their operations and their employees as well as set certain criteria such a completing on a minimum amount of transactions. Many Dover conveyancing firms that have been excluded from lender panels have a 100% healthy track record, no complaints and no claims and didn't just 'dabble' in conveyancing. Dover is one of the many areas where the conveyancers we recommend are are approved Halifax.
When it comes to mortgage companies such as Principality, do Dover conveyancing practitioners incur a yearly amount to be on the list of approved solicitors?
We are unaware of any mortgage company fees to be on their list of approved firms, although some do levy an administration charge to deal with the processing of the conveyancing panel application.
My wife and I have arranged a further advance on our mortgage from Yorkshire BS as we wish to carry out improvements to our home in Dover. Do we need to select a high street Dover solicitor on the Yorkshire BS conveyancing panel to deal with the paperwork?
Yorkshire BS would not normally appoint firms on their conveyancing panel to deal with such a matter. If they do require any legal work then you would need to ensure that such a lawyer was on the Yorkshire BS panel.
I have paid off my mortgage with Yorkshire BS. I assume I don't need a Dover solicitor on the Yorkshire BS panel to remove the mortgage at the Land Registry. Please confirm.
If you have finished paying off your Yorkshire BS mortgage, they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the Yorkshire BS mortgage from the register. Yorkshire BS, and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:
- but are not moving to another property
- where Yorkshire BS has sent the Land Registry the discharge electronically, and
- Yorkshire BS has instructed the Land Registry to do so
Various web forums that I have come across warn that are the number one reason for stalling in Dover conveyancing transactions. Is this right?
The Council of Property Search Organisations (CoPSO) has noted the determinations of a review by MoveWithUs that conveyancing searches do not figure within the top 10 causes of delays during the legal transfer of property. Searches are not likely to be the root cause of slowing down conveyancing in Dover.
I decided to have a survey completed on a house in Dover prior to retaining solicitors. I have been told that there is a flying freehold overhang to the property. My surveyor has said that some lenders will not grant a loan on such a premises.
It depends who your proposed lender is. Santander has different instructions for example to Halifax. If you call us we can investigate further with the relevant lender. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Dover. Conveyancing will be smoother if you use a solicitor in Dover especially if they are acquainted with such properties in Dover.
Can you provide any top tips for leasehold conveyancing in Dover with the purpose of expediting the sale process?
- Much of the frustration in leasehold conveyancing in Dover can be bypassed if you appoint lawyers as soon as your agents start advertising the property and ask them to put together the leasehold documentation which will be required by the purchasers’ representatives. If you have carried out any alterations to the property would they have required Landlord’s permission? Have you, for example installed wooden flooring? Dover leases often stipulate that internal structural alterations or laying down wooden flooring require a licence issued by the Landlord acquiescing to such works. If you dont have the approvals to hand you should not contact the landlord without checking with your conveyancer in advance. If you have the benefit of shareholding in the freehold, you should make sure that you hold the original share document. Obtaining a re-issued share certificate can be a time consuming formality and delays many a Dover conveyancing deal. Where a duplicate share certificate is necessary, you should approach the company director and secretary or managing agents (if relevant) for this as soon as possible. Some Dover leases require Licence to Assign from the landlord. If this is the case, it would be prudent to place the estate agents on notice to make sure that the purchasers put in hand bank and professional references. Any bank reference should make it clear that the buyer is financially capable of paying the yearly service charge and the actual amount of the service charge should be quoted in the bank’s letter. You will therefore need to provide your estate agents with the actual amount of the service charge so that they can pass this information on to the buyers or their lawyers.
I own a 1 bedroom flat in Dover, conveyancing formalities finalised in 1997. Can you please calculate a probable premium for a statutory lease extension? Comparable flats in Dover with an extended lease are worth £201,000. The average or mid-range amount of ground rent is £45 yearly. The lease ceases on 21st October 2083
You have 64 years unexpired we estimate the premium for your lease extension to range between £14,300 and £16,400 as well as legals.
The suggested premium range above a general guide to costs for extending a lease, but we cannot give you the actual costs without more comprehensive investigations. You should not use this information in a Notice of Claim or as an informal offer. There may be other issues that need to be taken into account and clearly you should be as accurate as possible in your negotiations. Please do not take any other action based on this information before getting professional advice.