Is the fact that my solicitor in Dunmow is not on my mortgage company's solicitor panel that there is a problem with the standard of his conveyancing?
That is more than likely a wrong assumption to make. There are plenty of plausible explanations. A recent report by the solicitors regulator indicated 76% of law firms surveyed had been removed from at least one lender panel. The most common reasons for removal are: (1) low volume of transactions (2) the solicitor is a sole practitioner (3) as part of the HSBC panel reduction (4) regulatory contact by SRA (5) accidental removal. Should you be concerned you should contact the Dunmow conveyancing firm and enquire why they are no longer on the approved list for your mortgage company.
We are approaching an exchange on a property in Dunmow and my parents have transferred the 10% deposit to my conveyancer. I am now advised that as the deposit has not come from me my conveyancer needs to make a notification to my mortgage company. I am advised that, in also acting for the mortgage company he must inform them that the balance of the purchase price is not just from me. I disclosed to the lender about my parents' contribution when I applied for the mortgage, so is it really necessary for him to raise this?
The conveyancer is duty bound to check with lender to ensure that they are aware that the balance of the purchase price is not from your own resources. Your solicitor can only disclose this to your mortgage company if you permit them to, failing which, your lawyer must cease to continue acting.
What is the best way to check that the solicitor carrying out my conveyancing in Dunmow is on the bank’sconveyancing panel? I am looking to avoid the situation of having one lawyer for me and one for Norwich and Peterborough Building Society thus paying £175.00 in additional conveyancing fees.
Please do take advantage of the search tool on this site. Pick the lender and type ‘Dunmow’ or your preferred area and you will see a number of lawyer located in Dunmow or nearest you.
Just had an offer accepted on a new build apartment in Dunmow. Conveyancing is daunting at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build legal work.
Set out below is a sample of a selection of leasehold new build questions that you should expect your new-build leasehold conveyancing in Dunmow
Investor purchasers must be able to freely grant unsecured tenancies at market rents without requiring any consents. The Vendor must covenant to keep unoccupied units in good repair until long leases are granted therefore. Forfeiture - bankruptcy or liquidation must not apply under this provision. Will control of the Management Company (if any) be handed over to purchasers on completion of the last sale or earlier? The Landlord must covenant to assume the management if the Management Company goes into liquidation or otherwise defaults in running the management scheme.
I am looking for a ground for flat up to £195,000 and found one round the corner in Dunmow I like with open areas and railway links in the vicinity, however it's only got 52 years unexpired on the lease. There is not much else in Dunmow suitable, so just wondered if I would be making a grave error purchasing a lease with such few years left?
Should you require a home loan that many years may be a potential deal breaker. Reduce the offer by the anticipated lease extension will cost if it has not already been discounted. If the current proprietor has owned the premises for at least 2 years you can request that they start the process of the extension and pass it to you. You can add 90 years to the existing lease and have £0 ground rent by law. You should speak to your conveyancing solicitor regarding this.