My wife and I are buying a 3 bedroom apartment in Dunmow with a mortgage. We have a Dunmow lawyer, however the mortgage company advise she’s not on their "panel". It seems we have no option but to appoint one of the lender panel solicitors or continue with our Dunmow conveyancer and pay for one of their panel ones to act for them. We regard this is unjust; is there anything we can do?
No, not really. The mortgage offered to you is subject to its terms and conditions, one of which will be that lawyers will on the lender’s conveyancing panel. Until recently, most lenders had large numbers of law firms on their panels: a borrower could choose one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. Another option that might be available is for your Dunmow conveyancing solicitor to apply to be on the conveyancing panel.
Two weeks ago we had a mortgage agreed in principle with Lloyds. Dunmow conveyancing practitioners were instructed. How long does it take for Lloyds to forward the offer to the conveyancer?
There is no definitive answer here. Have Lloyds done the valuation? Have you advised Lloyds as to your lawyers' details and checked that your lawyers are on the Lloyds conveyancing panel? It is not unusual for a mortgage offer to take a month to come through.
Intending to buy a house in Dunmow. I have received an online quote from a licenced conveyancer, which states: "There will be no charge for dealing with the Building Society if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the Co-operative conveyancing panel. I wanted to make sure it means there will be no additional fees for dealing with the mortgage.
They are simply saying that the cost for acting for the lender is included in the fee being quoted. It is worth you checking that the Dunmow property lawyer is on the Co-operative conveyancing panel.
I have instructed a Dunmow conveyancing practitioner having made sure that they are on the Aldermore conveyancing panel. Does my lawyer arrange the survey of the property?
Aldermore will need an independent valuation of the property. Your lawyer will not arrange this. Usually Aldermore will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey. Your lawyer will not organise the survey but they may be able to put you in touch with a local one that they recommend. RICS offers a find a surveyor service (just google it) where you can search for a qualified surveyor by your Dunmow postcode. As you are getting a mortgage with Aldermore, you could contact them to see if they have a list of approved surveyors in Dunmow.
A relative suggested that where I am buying in Dunmow I should carry out a Neighbourhood, Planning and Local Amenity Search. What does it cover?
A search of this type is occasionally included in the estimate for your Dunmow conveyancing searches. It is a large report of about 40 pages, listing and setting out significant information about Dunmow around the property and the people living there. It incorporates an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the Dunmow Housing Market, Council Tax Banding, the type of People living in the area, the dominant type of Housing, the Average Property Price, Crime statistics, Dunmow Education with plans and statistics, Local Amenities and other useful information regarding Dunmow.
I have been on the look out for a flat up to £305k and found one near me in Dunmow I like with open areas and railway links in the vicinity, the downside is that it's only got 49 years on the lease. There is not much else in Dunmow for this price, so just wondered if I would be making a grave error acquiring a lease with such few years left?
If you need a mortgage the remaining unexpired lease term will likely be an issue. Discount the price by the anticipated lease extension will cost if it has not already been discounted. If the current proprietor has owned the property for at least 2 years you could ask them to commence the lease extension formalities and then assign it to you. An additional ninety years can be extended on to the current lease and have £0 ground rent by law. You should speak to your conveyancing lawyer regarding this matter.
Please set out some of compelling advantages to selecting a local conveyancing practitioner in Dunmow
Many purchasers and sellers in Dunmow choose a local solicitor so that they can pop into the firm’s offices just in case they have questions, and to collect documents rather taking the chance in depending on the Royal Mail.
There is a distinct advantage when using a property lawyer nearby to the premises you are purchasing, due to the knowledge of the area and possible local concerns - nevertheless this is moot. The majority of conveyancers carry out their communications by way of email and may be based anywhere.